PacSun losses continue in Q4
Anaheim, Calif. — Pacific Sunwear of California announced that total sales for the fourth quarter of fiscal 2010 were $263 million, a decrease of 10% from total sales of $293 million for the fourth quarter of fiscal 2009. Total company same-store sales decreased 7% during the fourth quarter of fiscal 2010.
The company reported a net loss of $35 million, or 53 cents per share, for the fourth quarter of fiscal 2010 compared with a net loss of $36 million, or 56 cents per share, for the fourth quarter of fiscal 2009.
"Our fourth quarter results ended up in line with the lower guidance that we indicated in early January. Our men’s business achieved a positive comp for the quarter and year, yet our women’s business continued its downward trend of the past two years," said Gary Schoenfeld, president and CEO. "While we believe we have made progress in several critical areas, we clearly have much still to accomplish to turn this business around. Among our highest priorities include reestablishing our spring/summer women’s business, mitigating product cost pressures and attracting new customers to PacSun."
Total sales for fiscal 2010 were $930 million, a decrease of 10% from total sales of $1.03 billion during fiscal 2009. Total company same-store sales decreased 8% during fiscal 2010. The company reported a net loss of $97 million, or $1.46 per share, for fiscal 2010 compared with a net loss of $70 million, or $1.07 per share, in fiscal 2009.
For first quarter 2011, the company said it is expecting a GAAP net loss per share of 46 cents to 55 cents, which reflects the continuing impact of maintaining a valuation allowance against deferred tax assets and thus a very low effective tax rate.
Dick’s Sporting Goods a running sponsor this May
PITTSBURGH — National Runner’s Month is back this May at Dick’s Sporting Goods. As part of its celebration of runners, the company announced that it will be a major sponsor at tenpremiere running events in metro cities across the country. In addition, the month-long running celebration will be surrounded by a comprehensive marketing program that includes the announcement of three widely respected running ambassadors, a major charity initiative, social and digital media elements along with running specials and promotions throughout May.
"National Runners’ Month is an important vehicle which allows us to further serve the running community and offer a platform that runners across the country can rally behind, " said Lauren Hobart, SVP and chief marketing officer of Dick’s Sporting Goods. "Our sponsorship of these races and all the other exciting elements of the campaign will hopefully continue to fuel the growth of running as a popular and healthy recreational activity."
The ten races that will encompass the 2011 Dick’s Sporting Goods National Runners’ Month event calendar include:
Chuy’s Hot to Trot, Austin, Tx., May 7
Palos Verde Marathon, Los Angeles, Calif., May 14
Beat the Bridge to Beat Diabetes, Seattle, Wash., May 15
Dick’s Sporting Goods Pittsburgh Marathon, Pittsburgh, Pa., May 15
Brentwood 10K, Los Angeles, Calif., May 29
Stillwater Marathon, Minneapolis, Minn., May 29
American Heroes Race, Arlington, Tx., May 30
Dick’s Sporting Goods BolderBOULDER, Boulder, Colo., May 30
Ridge Run 10K, Chicago, Ill., May 30
Sam’s cooks up some BBQ competition
BENTONVILLE, Ark. — Sam’s Club, the official supplier of the Kansas City Barbeque Society, is sponsoring its first national BBQ tour and is awarding $400,000 in prize money — a first for competitive barbeque.
The tour, called the "Inaugural Sam’s Club National BBQ Tour," will feature 20 local qualifying events, five regional events and one national championship in the company’s hometown of Bentonville, Ark. An unprecedented total of $400,000 will be awarded in 26 barbecue competitions, which will be held in Sam’s Club parking lots across the country.
"This partnership with KCBS gives Sam’s Club a chance to showcase our high-quality selection of fresh meats," said Bob Fields, senior fresh merchandise director Sam’s Club. "It also allows us the opportunity to demonstrate to our members and others how grilling can be an everyday meal solution even if they aren’t part of the growing competitive barbecuing scene."
The teams compete at local events for the opportunity to advance to regional competitions. Qualifying teams from the regional events will then move on to the national event, where one lucky team will be crowned grand champion and take home their portion of the $400,000 purse.
KCBS will sanction the events and provide certified barbecue judges for the competitions.
The national tour will kick off in Gilbert, Ariz. on April 8. The events will also feature sampling and public demonstrations, along with exclusive barbecue tips and demonstrations from professional cooks.
"This is a great way for our members to come out and learn how to make competition barbecue in their own backyards," Fields said. "Who better to learn from than the professional cooks and teams who have dedicated their lives to perfecting their craft?"