Home decor retailer Pier 1 Imports Inc. on Thursday swung to its fourth-quarter profit that surpassed its forecasts, however, it was revealed to be in line with market expectations as the U. S. home goods retailer got a boost on account of strong sales.

Pier 1 witnessed its profit touch $34.5 million, or 30 cents per share, compared with a loss of $29.4 million, or 33 cents per share, the previous year.

It said its profit totalled 31 cents per share excluding one-time costs. Moreover, its revenue grew by 2 percent to $396 million.

However, in accordance to Thomson Reuters, analysts had speculated a profit of 32 cents per share and $396.3 million in revenue. Pier 1 in early March had posted that it anticipated earnings of 29 cents per share on $396 million in sales.

In addition, Pier 1 revealed that it had reduced its sale costs by nearly 16 percent compared to last year.

The company now plans to close another 10 to 15 stores this year, while open three to five new stores. It uncovered that those closings will reduce its total rent by $6 million to $7 million.