For similar reasons, inventory turnover is lower than industry and market. Asset turnover is below industry average but above market average. Data in the ROE decomposition table supports these statements. Increasing profit margins indicates good profitability. ROA and ROE increases indicate management effectiveness.
Turnovers indicate inefficiency.
Supposedly, the drop was due to expectations that sales and growth were slowing. However, the recent drop makes no sense since the entire retail industry reported months ago what earnings were supposed to be and Pier 1 has met or exceeded all expectations. Possible reasons the stock price is so low is the nature of the industry- people are worried in general about retail earnings. A reason specific to the company might be worries about liquidity or efficiency. This number serves to emphasize that the stock is a longer-term investment.