Pier 1 Imports Inc. shares dropped in the extended session Wednesday after the housewares retailer's outlook fell short of Wall Street estimates. Pier 1 shares fell 15% after hours, following a 1% gain to close the regular session at $3. For the second fiscal quarter, Pier 1 estimates a loss of 58 cents to 54 cents a share. Analysts surveyed by FactSet expect a loss of 21 cents a share. The company reported a fiscal first-quarter loss of $28.5 million, or 36 cents a share, compared with a loss of $3 million, or 4 cents a share, in the year-ago period. Revenue fell to $371.9 million from $409.5 million in the year-ago period. Analysts had estimated a loss of 39 cents a share on revenue of $375.6 million. Same-store sales for the first quarter declined 8.2% while analysts were expecting a decline of 7.7%.