FINANCE

Hot Topic same-store sales down 10.9%

BY CSA STAFF

San Francisco Hot Topic said late Wednesday that its December same-store sales fell 10.9%. Meanwhile, the retailer announced that sales for the month fell 9.8% to $119 million.

Consequently, Hot Topic lowered its fourth-quarter earnings guidance. Its fourth quarter ends January 30, 2010.

 

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Apple App Store continues to dominate market

BY CSA STAFF

CUPERTINO, Calif. Apple announced that more than three billion apps have been downloaded from its App Store by iPhone and iPod touch users worldwide.

“Three billion applications downloaded in less than 18 months–this is like nothing we’ve ever seen before,” said Steve Jobs, Apple’s CEO. “The revolutionary App Store offers iPhone and iPod touch users an experience unlike anything else available on other mobile devices, and we see no signs of the competition catching up anytime soon.”

iPhone and iPod touch customers in 77 countries worldwide can choose from a range of apps in 20 categories, including games, business, news, sports, health, reference and travel.

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Disney to open in Times Square

BY CSA STAFF

PASADENA, Calif. Disney Store announced that it will set up shop in New York’s Times Square with a state-of-the-art, interactive retail destination set to open in fall 2010.

According to the company, Disney Store will incorporate technologically advanced displays including an interactive Disney Princess castle to serve as one of many magical centerpieces at the new Times Square location. The store will also include an all-new children’s theater will feature the latest Disney entertainment and classic animation.

“Bringing Disney Store to the center of Times Square is a monumental achievement, and we have created a retail experience that complements the energy and innovation that Times Square inspires,” said Jim Fielding, president of Disney Stores Worldwide. “We’re focused on reinvigorating retail and providing a unique shopping destination to millions of families from all over the world who travel to New York for a magical experience.”

“Disney’s bold move to restore 42nd Street’s greatest landmark theater in the 1990s was the turning point in Times Square’s recent history. We are thrilled that Disney is bringing its creative energies yet again to Times Square with this new Disney Store. An iconic brand is coming again to America’s most iconic place,” said Tim Tompkins, president of Times Square Alliance.

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