The most frustrating issue for home decor retailer Pier 1 Imports these days isnt’ the daunting rebuilding effort it’s undertaking, or the skittish real estate and credit markets which are undercutting consumer spending.

For them it’s the media and it’s role in spreading word that a recession may be on the horizon, Cary Turner, Pier 1’s Chief Financial Officer said at the Cowen and Co. consumer conference in New York.

“The biggest frustration we have is the media. They continue to want to keep talking about the ‘R’ word,” Turner said.

Although the current sales environment has been harsh for home decor retailers –  Williams-Sonoma reported disappointing holiday sales and slashed its outlook, while Bed Bath & Beyond warned of a weaker-than-expected fourth quarter – things have been looking up for Pier 1 lately.

Last week it said December sales at stores open at least a year rose 7.5 percent — its strongest December in six years.  And analysts said last month that Pier 1 was starting to show evidence of a turnaround after it cut costs and posted a narrower quarterly loss.

But despite making noticeable strides, Pier 1’s turnaround has a long way to go, according to Turner.

The company needs “to recapture that treasure hunt feeling,” Turner said. “Traffic is a little down.”