Pier 1 Imports Inc. (NYSE: PIR) is a Fort Worth, Texas, based retailer specializing in imported home furnishings and decor, particularly furniture, table-top items, decorative accessories and seasonal decor. The chain operates over 1,000 stores under the name Pier 1 Imports in the United States, Canada, Mexico and Puerto Rico. The company also had a children's furniture and accessories retail concept in the United States called Pier 1 Kids which was disbanded in September 2007. It was a member of the S&P MidCap 400 list through the end of 2006, when it was bumped off the list. Pier 1 Imports also owned a chain of home-decor retailers (40 locations as of February 2006) in the United Kingdom called "The Pier" until it sold to Palli Limited, a subsidiary of Lagerinn ehf. in March 2006. This chain went into Administration in December 2008[1] and was finally closed in January 2009.
The company was founded in 1962 in San Mateo, California.
Former spokespeople for the company, seen largely in broadcast commercials, include Cheers alumna Kirstie Alley and Thom Filicia of Queer Eye for the Straight Guy.
Ethics and Values
Pier 1 Imports is committed to conducting its business with a high standard of business ethics, in compliance with applicable laws and with a regard for human rights and fair labor practices. While we recognize and respect the cultural differences that exist throughout the world, Pier 1 expects its vendors and agents to share and uphold these values.
Oversight and Code of Vendor Conduct
To facilitate vendor commitment to these values, Pier 1 established a Vendor Relations Department that has management and oversight responsibility for vendor accountability. This department develops programs and implements procedures aimed at ensuring compliance with Pier 1's Code of Vendor Conduct. Two principle functions of this department are to educate vendors regarding our expectations (i.e. the standards set forth in the code) and to coordinate assessment activities at production facilities.
The Code of Vendor Conduct was established in order to reflect Pier 1's desire to do business with vendors who comply with the legal requirements applicable to the conduct of their business, and who respect accepted international labor standards. The Vendor Relations Department, together with Pier 1's agents, virtually all of whom are located in the countries where Pier 1's merchandise is produced, ensure that vendors are informed of, and understand, the terms of the code.
Education and Training
Pier 1 believes that the success of our vendor accountability process requires effective education and training of our employees, agents and vendors, as well as subcontractors engaged in the production of Pier 1 merchandise. Accordingly, we are committed to allocating the resources reasonably required to promote an understanding of our requirements.
Assessment and Compliance
Visits to production facilities are routinely made by Pier 1 agents and buyers. Pier 1's agents are required by agreement to promptly notify Pier 1 of any event of noncompliance with the code. Assessments of production facilities are conducted periodically by either a representative of the Vendor Relations Department or, when requested, by a third party. Vendors will be notified of the results of the assessment and offered guidance with respect to matters requiring correction or which need improvement; however, Pier 1 reserves the right to suspend future orders or to terminate its relationship with the vendor for compliance failures.
Cooperation and Communication
While we believe our vendor accountability process promotes responsible working conditions, we also believe that the continued cooperation and communication among all constituencies interested in this important area offer the best long-term prospects for improved labor conditions.
Code of Vendor Conduct
Employment Standards
No Child Labor: Vendors will not use child labor. A "child" refers to a person younger than 15 (14 where local law allows) or, if higher, the local legal minimum age for employment or the age for completing compulsory education.
No Forced Labor: Vendors will not use any forced or involuntary labor, whether prison, bonded, indentured or otherwise.
No Harassment or Coercion: Vendors will treat each employee with dignity and respect, and will not use corporal punishment, threats of violence or other forms of physical, sexual, psychological or verbal harassment or abuse.
Freedom of Association: Vendors will recognize and respect the right of employees to associate freely and bargain collectively in a lawful and peaceful manner, without penalty or interference.
Nondiscrimination: Pier 1 respects the cultural differences found worldwide; however it is our belief that workers should be employed on the basis of their ability and qualification to do the job, and not on the basis of personal characteristics or beliefs. As such, vendors will not discriminate with regard to hiring and employment practices on the basis of race, religion, age, nationality, social or ethnic origin, gender, sexual orientation, political opinion or disability.
Wages and Benefits: Vendors must at least pay the minimum wage as required by local law or the prevailing industry wage, whichever is higher and shall provide legally mandated benefits. An overtime premium must be paid in accordance with country law.
Hours of Work/Overtime: Vendors will maintain reasonable employee work hours in compliance with the laws of the given country. Pier 1 will favor vendors whose employees are normally not scheduled for more than forty-eight (48) regular hours per week and 12 hours overtime. Except for extraordinary business circumstances, employees should be permitted to at least one (1) day off in every seven (7) day period, or the legally mandated rest period if greater than one (1) day a week.
Health and Safety: Vendors will provide employees with a safe and healthy workplace in compliance with all applicable laws and regulations, ensuring at a minimum, reasonable access to potable water and sanitary facilities, fire safety, and adequate lighting and ventilation.
Environment
Vendors will comply with all applicable laws and regulations regarding protection and preservation of the environment in their country.
Monitoring, Documentation and Compliance
Vendors will permit Pier 1 and its agents (including third parties) to engage in assessment activities to confirm compliance with this Code of Vendor Conduct, including unannounced on site inspections of production facilities; reviews of books and records relating to employment matters; and private interviews with employees. Vendors will maintain on site all documentation that may be needed to demonstrate compliance with this Code of Vendor Conduct.
Communication of Standards
Vendors will take appropriate steps to ensure that the provisions of this Code of Vendor Conduct are communicated to employees, and any subcontractor employees, including the prominent posting of a copy of this Code of Vendor Conduct, in the local language and in a place readily accessible to employees, at all times.
Responsibilities
Specific responsibilities of the Committee are set forth in the Responsibilities Checklist below. The responsibilities stated in this Charter and the Responsibilities Checklist are intended to provide a set of flexible guidelines for the Committee. To the fullest extent permitted by law, the Committee shall have the power to determine which matters are within the scope of its delegated authority. The checklist will be reviewed at least annually and updated as necessary to reflect changes in regulatory requirements, authoritative guidance and evolving practices.
Retention Your Health
Medical
Dental
Vision
Healthy Expectations - A program allowing expectant mothers to speak with an experienced registered nurse on questions regarding their pregnancy.
International Health Referral Service
Your Peace of Mind
Employee Assistance Program (EAP) - A free and confidential service that provides counseling sessions to help associates cope with personal problems.
Short-Term and Long-Term Disability Insurance
Life Insurance
Accidental Death and Dismemberment Insurance
Business Travel Accident Insurance
Your Time & Your Family
Flexible Schedules
Paid Holidays
Paid Vacation
Paid Personal Holidays
Paid Jury Duty
Paid Bereavement Leave
Dependent Care Flexible Spending Account
Family Medical Leave
Your Money
Pier 1 Discount - Great merchandise discounts at Pier 1 stores.
401(k) Plan
Stock Purchase Program
Educational Assistance
Health Care Spending Account
Paycheck Direct Deposit
Federal Credit Union and Banking Benefits
The company was founded in 1962 in San Mateo, California.
Former spokespeople for the company, seen largely in broadcast commercials, include Cheers alumna Kirstie Alley and Thom Filicia of Queer Eye for the Straight Guy.
Ethics and Values
Pier 1 Imports is committed to conducting its business with a high standard of business ethics, in compliance with applicable laws and with a regard for human rights and fair labor practices. While we recognize and respect the cultural differences that exist throughout the world, Pier 1 expects its vendors and agents to share and uphold these values.
Oversight and Code of Vendor Conduct
To facilitate vendor commitment to these values, Pier 1 established a Vendor Relations Department that has management and oversight responsibility for vendor accountability. This department develops programs and implements procedures aimed at ensuring compliance with Pier 1's Code of Vendor Conduct. Two principle functions of this department are to educate vendors regarding our expectations (i.e. the standards set forth in the code) and to coordinate assessment activities at production facilities.
The Code of Vendor Conduct was established in order to reflect Pier 1's desire to do business with vendors who comply with the legal requirements applicable to the conduct of their business, and who respect accepted international labor standards. The Vendor Relations Department, together with Pier 1's agents, virtually all of whom are located in the countries where Pier 1's merchandise is produced, ensure that vendors are informed of, and understand, the terms of the code.
Education and Training
Pier 1 believes that the success of our vendor accountability process requires effective education and training of our employees, agents and vendors, as well as subcontractors engaged in the production of Pier 1 merchandise. Accordingly, we are committed to allocating the resources reasonably required to promote an understanding of our requirements.
Assessment and Compliance
Visits to production facilities are routinely made by Pier 1 agents and buyers. Pier 1's agents are required by agreement to promptly notify Pier 1 of any event of noncompliance with the code. Assessments of production facilities are conducted periodically by either a representative of the Vendor Relations Department or, when requested, by a third party. Vendors will be notified of the results of the assessment and offered guidance with respect to matters requiring correction or which need improvement; however, Pier 1 reserves the right to suspend future orders or to terminate its relationship with the vendor for compliance failures.
Cooperation and Communication
While we believe our vendor accountability process promotes responsible working conditions, we also believe that the continued cooperation and communication among all constituencies interested in this important area offer the best long-term prospects for improved labor conditions.
Code of Vendor Conduct
Employment Standards
No Child Labor: Vendors will not use child labor. A "child" refers to a person younger than 15 (14 where local law allows) or, if higher, the local legal minimum age for employment or the age for completing compulsory education.
No Forced Labor: Vendors will not use any forced or involuntary labor, whether prison, bonded, indentured or otherwise.
No Harassment or Coercion: Vendors will treat each employee with dignity and respect, and will not use corporal punishment, threats of violence or other forms of physical, sexual, psychological or verbal harassment or abuse.
Freedom of Association: Vendors will recognize and respect the right of employees to associate freely and bargain collectively in a lawful and peaceful manner, without penalty or interference.
Nondiscrimination: Pier 1 respects the cultural differences found worldwide; however it is our belief that workers should be employed on the basis of their ability and qualification to do the job, and not on the basis of personal characteristics or beliefs. As such, vendors will not discriminate with regard to hiring and employment practices on the basis of race, religion, age, nationality, social or ethnic origin, gender, sexual orientation, political opinion or disability.
Wages and Benefits: Vendors must at least pay the minimum wage as required by local law or the prevailing industry wage, whichever is higher and shall provide legally mandated benefits. An overtime premium must be paid in accordance with country law.
Hours of Work/Overtime: Vendors will maintain reasonable employee work hours in compliance with the laws of the given country. Pier 1 will favor vendors whose employees are normally not scheduled for more than forty-eight (48) regular hours per week and 12 hours overtime. Except for extraordinary business circumstances, employees should be permitted to at least one (1) day off in every seven (7) day period, or the legally mandated rest period if greater than one (1) day a week.
Health and Safety: Vendors will provide employees with a safe and healthy workplace in compliance with all applicable laws and regulations, ensuring at a minimum, reasonable access to potable water and sanitary facilities, fire safety, and adequate lighting and ventilation.
Environment
Vendors will comply with all applicable laws and regulations regarding protection and preservation of the environment in their country.
Monitoring, Documentation and Compliance
Vendors will permit Pier 1 and its agents (including third parties) to engage in assessment activities to confirm compliance with this Code of Vendor Conduct, including unannounced on site inspections of production facilities; reviews of books and records relating to employment matters; and private interviews with employees. Vendors will maintain on site all documentation that may be needed to demonstrate compliance with this Code of Vendor Conduct.
Communication of Standards
Vendors will take appropriate steps to ensure that the provisions of this Code of Vendor Conduct are communicated to employees, and any subcontractor employees, including the prominent posting of a copy of this Code of Vendor Conduct, in the local language and in a place readily accessible to employees, at all times.
Responsibilities
Specific responsibilities of the Committee are set forth in the Responsibilities Checklist below. The responsibilities stated in this Charter and the Responsibilities Checklist are intended to provide a set of flexible guidelines for the Committee. To the fullest extent permitted by law, the Committee shall have the power to determine which matters are within the scope of its delegated authority. The checklist will be reviewed at least annually and updated as necessary to reflect changes in regulatory requirements, authoritative guidance and evolving practices.
Retention Your Health
Medical
Dental
Vision
Healthy Expectations - A program allowing expectant mothers to speak with an experienced registered nurse on questions regarding their pregnancy.
International Health Referral Service
Your Peace of Mind
Employee Assistance Program (EAP) - A free and confidential service that provides counseling sessions to help associates cope with personal problems.
Short-Term and Long-Term Disability Insurance
Life Insurance
Accidental Death and Dismemberment Insurance
Business Travel Accident Insurance
Your Time & Your Family
Flexible Schedules
Paid Holidays
Paid Vacation
Paid Personal Holidays
Paid Jury Duty
Paid Bereavement Leave
Dependent Care Flexible Spending Account
Family Medical Leave
Your Money
Pier 1 Discount - Great merchandise discounts at Pier 1 stores.
401(k) Plan
Stock Purchase Program
Educational Assistance
Health Care Spending Account
Paycheck Direct Deposit
Federal Credit Union and Banking Benefits