Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(b) On January 17, 2013, Michael R. Ferrari informed Pier 1 Imports, Inc. (the "Company") that he is resigning as a director of the Company effective January 22, 2013. Dr. Ferrari has served on the Company's Board of Directors since 1999, including time most recently as Non-Executive Chairman from 2009 to 2012. Alex W. Smith, the Company's President and Chief Executive Officer commented, "Mick has been an outstanding director, a consensus building force, a transformational Chairman, and a wonderful counsellor to me. He led our board through a very challenging period in the history of Pier 1 Imports and into the better times in which we now find ourselves. On behalf of the entire board, I would like to thank Mick for his 14 years of outstanding service."