FINANCE

PacSun gets back to a positive comp

BY CSA STAFF

Anaheim, Calif. — Pacific Sunwear of California announced that net sales for the first quarter of fiscal 2011 were $186 million, a decrease of 2% from net sales of $190 million for the first quarter of fiscal 2010. Total company same-store sales increased 1% during the first quarter of fiscal 2011.

The company reported a net loss of $31 million, or 48 cents per share, for the first quarter of fiscal 2011 compared to a net loss of $31 million, or 47 cents per share, for the first quarter of fiscal 2010.

"Getting back to a positive comp is certainly an important step in the turnaround of our business," said Gary Schoenfeld, president and CEO. "As our new team comes together, we have initiated a number of important changes in merchandising, marketing and in-store experience that customers are beginning to respond to."

For the second quarter of 2011, the company expects a net loss on a GAAP basis of 36 cents to 46 cents.

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Bobby Flay to cook up more exclusives for Kohl’s

BY CSA STAFF

MENOMONEE FALLS, Wis. — Kohl’s Department Stores announced a long-term license agreement with Bobby Flay to renew the chef’s exclusive line of home and grill products, which will be available in Kohl’s stores nationwide and Kohls.com beginning February 2012.

“We are pleased to announce the renewal of our partnership with Bobby Flay and expand the Bobby Flay collection, said Don Brennan, Kohl’s chief merchandising officer. “The line has been a strong performer in the home category and continues to deliver on our commitment to offer world-class brands at an incredible value and differentiate Kohl’s in the marketplace.”

The Bobby Flay collection, which initially launched in 2008, will continue to carry the same product categories as before but will increase the volume of merchandise available under the brand, including a variety of housewares, such as dinnerware and serveware; flatware; drinkware; kitchen gadgets and utensils; grilling tools and cutlery; cookware and bakeware; food storage; kitchen textiles and table linens.

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Cars 2 races into Toys”R”Us

BY CSA STAFF

WAYNE, N.J. — Toys"R"Us announced that it will open Cars 2-inspired “racetrack” boutiques in nearly 1,300 toy stores across the globe in time for the June 24 release of the feature film.

The company is opening the in-store boutiques in the United States on June 1 and will open additional boutiques internationally to coincide with the movie’s release in each respective country. Toys"R"Us has also launched a dedicated Cars 2 website at Toysrus.com/Cars2.

The Cars 2 boutiques will be located at the front of each store and will include a racetrack featuring images of old and new characters from the film series. Toys"R" Us is also offering a number of exclusive items from such top brands as Mattel and Hasbro in stores and online.

“With its unique blend of humor, spy-themed fun and unforgettable new characters, we anticipate that Cars 2 will capture the imaginations of kids and parents who want to bring home the adventure from this animated feature film,” said Karen Dodge, SVP, chief merchandising officer, U.S.

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