Pacific Sun Hires Financial Adviser
Anaheim, Calif., Pacific Sunwear of California Inc. said it hired Financo Inc. as its financial adviser to help it explore strategic alternatives for its urban-inspired demo chain.
The company last week announced it would begin exploring alternatives for the 154 demo stores after conducting an evaluation of the real estate portfolio and profit performance of the division.
The company also said it would close its nine One Thousand Steps footwear stores.
Toys ‘R’ Us names ceo for Japanese division
WAYNE, N.J. Toys “R” Us announced today that Monika Merz has been promoted to ceo for Toys “R” Us, Japan, effective Nov. 15. Merz currently serves as president of Toys “R” Us, Canada. In her new role, she will be responsible for all aspects of the company’s owned and franchised operations in Japan. She will report to Kei Kodera, representative director, chairman and president of Toys “R” Us, Japan, and will be based in Tokyo.
In discussing her new position, Merz said, “I am extremely excited about the opportunity to contribute to our global business, and I look forward to working with the leadership team in Japan to identify new business opportunities and bring best practices from across the company to strengthen our position in this important global marketplace.”
Merz joined Toys “R” Us in October 1996 as vp and general merchandise manager for Toys “R” Us, Canada. In this capacity, she oversaw all aspects of merchandising and marketing for the company’s Canadian operations. In 2000, she was promoted to president of Toys “R” Us, Canada, where she helped expand the Canadian business to 67 locations.
Washington JCPenneys earn new Energy Star
PLANO, Texas JCPenney today announced that four of its department stores in Washington state have become the first buildings to earn the new retail ENERGY STAR rating for superior energy performance and environmental protection.
According to JCPenney, the company, using tools from the U.S. Environmental Protection Agency, analyzed the environmental performance of the Washington stores located in Bellevue, Burlington, Puyallup and Vancouver. JCPenney found that these stores use about 35% less energy than average retail stores, reducing carbon dioxide emissions from electricity generation by 3 million pounds – a savings equal to the greenhouse gas emissions associated with electricity use of nearly 200 homes. Based on the new ENERGY STAR retail benchmark implemented Oct. 1, the four JCPenney stores collectively save almost $250,000 per year on energy, compared with average stores.
“We are honored to be the first retailer to display the ENERGY STAR on our buildings, as it signifies our commitment to energy management and efficiency across our business,” said Michael Dastugue, senior vp and director of property development for JCPenney. “Through these four stores, we have demonstrated that a focus on sound facility operations and maintenance is effective for increasing the efficiency of both new and existing stores. In addition to better controlling utility costs and reducing the environmental impact of our operations, our energy management practices reflect our ‘Every Day Matters’ philosophy and commitment to the communities in which we operate.”