UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)  April 7, 2009

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: (see General Instruction A.2. below):

⃞ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

⃞ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

⃞ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

⃞ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02           Results of Operations and Financial Condition.

The information contained in this Current Report is being furnished pursuant to “Item 2.02 Results of Operations and Financial Condition”. The information in this Item on Form 8-K and the exhibit attached hereto shall not be deemed to be filed for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section.

On April 7, 2009, Pier 1 Imports, Inc. (the “Company”) issued a press release announcing the Company’s financial results for the fourth quarter and fiscal year ended February 28, 2009. A copy of this press release is attached hereto as Exhibit 99.1.

Item 2.05           Costs Associated with Exit or Disposal Activities.

On February 3, 2009, the Company announced it had begun lease negotiations for rental reductions across its store portfolio. At the time, the Company estimated that it may close up to 125 locations if rental reduction negotiations proved unsuccessful. To date, the Company has reached agreements in principal to terminate the leases on 20 stores and has decided to close 2 additional stores for which termination or rental reduction agreements were unable to be reached. The Company estimates total charges of approximately $6 million in cash and non-cash termination charges related to these closures, of which $4 million will be incurred in the first quarter of fiscal 2010.  The cash portion of these charges will be partially offset by the liquidation of inventory in the closing stores. As a result of its efforts to date, the Company has achieved approximately $6 million in rental savings for fiscal 2010 and now estimates that it will close no more than 80 locations. Actual expenses related to these closures cannot be estimated as they will largely depend on the results of on-going negotiations.

Item 8.01           Other Events.

As previously reported, under section 802.01B of the New York Stock Exchange (“NYSE”) Listed Company Manual, the NYSE will promptly initiate suspension and delisting procedures with respect to a company if a company is determined to have average global market capitalization over a consecutive 30 trading-day period of less than $25 million. A company is not eligible to provide the NYSE with a plan advising the NYSE of definitive action the company has taken, or is taking, that would bring it into conformity with continued listing standards with respect to this criterion.

On January 23, 2009, the NYSE temporarily changed to $15 million from $25 million the minimum global market capitalization required of listed issues. On February 26, 2009, this temporary change was extended by the NYSE until June 30, 2009.

The Company has not received notice from the NYSE that the Company is not in compliance with the minimum global market capitalization required of listed issues. As of April 6, 2009, the Company's average global market capitalization over a consecutive 30 trading-day period was greater than $25 million.

Item 9.01           Financial Statements and Exhibits.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

EXHIBIT INDEX