Sharp Electronics and Pier 1 fell back sharply in The Journal of Commerce rankings of the Top 100 Importers for 2010 in a sign of the ongoing impact of the retail industry’s inventory retrenchment since the global economic downturn.
Pier 1 Imports cut its import volume by more than half last year, from 42,300 TEUs in 2009 to 21,000 TEUs, and dropped from No. 28 on the list to 56th as the company restructured its business and its supply chain.
The Texas-based company closed 40 stores over the last year, including Pier 1 Kids, and a distribution center near Chicago, as the Pier 1 rebuilt its business for a smaller economy. The actions have proved dramatically successfully: its first quarter results showed same-store sales grew up 9.5 percent to $355 million in the three months ending May 28.
Sharp Electronics, meanwhile, fell from 69th in 20009 to a tie for No. 95 in 2010 with 12,000 TEUs imported in 2010, down 24 percent from 15,800 TEUs the year before.
Yet the Mahwah, N.J.-based electronics and appliance manufacturer posted a fourth quarter profit ending March 31 of $240 million, up 341.2 percent year-over-year.
Chemical giant DuPont, however, moved up on this year’s list to No. 66 from No. 89 a year ago.
The Delaware-based company increased imported cargo from 12,400 TEUs in 2009 to 16,700 TEUs in 2010.