Pier 1 Import's impressive return to profitability and sales gains make us wonder about all of those landlords out there that said they would refuse to give any tenants concessions. According to the retailer's fourth-quarter report, it received rent reductions at 350 of its 1,054 stores.That break must have had something to do with Pier 1's impressive fiscal-year earnings. It reported a net income of $87 million, a vast improvement from the $129-million net loss the previous year.The savings at those 350 stores resulted in a 23% rent reduction over a two-year period and a cash savings of $10 million during the fiscal year. Additionally, Pier 1 is slowing its store-closure rate, from 38 units last year to planned 10 to 15 closures in 2010.Pier 1 has cut these deals as vacancy rates in malls and shopping centers continue to rise while rental rates fall.At the same time, though, retailers -- not just Pier 1 -- are posting sales and earnings improvements. Were landlords too quick to give concessions, or did they have no choice?