Pacific Sunwear narrows loss in Q2
Anaheim, Calif. — Pacific Sunwear of California Inc. reported Wednesday a loss of $17.5 million for the second quarter, narrowed from a loss of $19.3 million in the year-ago period.
Results were boosted by a 5% sales in the quarter ended July 28 – to $210.3 million, from $200.9 million last year. Wall Street expected $203.1 million in revenue.
Same-store sales climbed 5%, which included a 7% rise in PacSun’s men’s division and a 2% rise on the women’s side.
Cabela’s names next CEO of World’s Foremost Bank
Sidney, Neb. — Cabela’s Inc. announced Thursday that its has named Sean Baker president of World’s Foremost Bank and the division’s next CEO, effective Jan. 1.
The move is part of a planned succession strategy that will put Baker in place as current CEO Joseph Friebe takes his previously announced retirement.
Baker began his career with Cabela’s as a financial analyst in 1997 and most recently served as senior VP business development, for World’s Foremost Bank.
Ikea proposes store in Miami-Dade
Conshohocken, Pa. — Ikea said Thursday it is submitting plans for a Miami-Dade store in the City of Sweetwater, Fla., as the second South Florida Ikea store and fourth in the state.
According to the Swedish home furnishings retailer, construction could launch as early as spring 2013 on the new store, with an opening tentatively slated for fall 2014.
Located on 14.6 acres west of Miami International Airport at the intersection of the Dolphin Expressway and Florida Turnpike, and adjacent to the Dolphin Mall, the 417,000-sq.-ft. proposed Ikea Miami would be built above two levels of parking, totaling 1,500 spaces.
Ikea said it will evaluate solar generation potential for this proposed store to complement its renewable energy presence of 89% of its U.S. locations.
“We are excited to submit plans for Ikea Miami where we can grow our Florida and southeastern U.S. reach,” said Mike Ward, Ikea U.S. president.