Pei Wei Asian Diner to debut in Atlanta
Atlanta — SRS Real Estate Partners said that Scottsdale, Ariz.-based Pei Wei Asian Diner has selected SRS to find its debut location in the state of Georgia.
Pei Wei was launched in July 2000 as a growth vehicle for P.F. Chang’s China Bistro. Currently, Pei Wei operates more than 165 company-owned stores in 20 states.
Babies’R’Us introduces Japanese children’s book inspired lifestyle brand
NEW YORK Lazoo, a juvenile lifestyle brand and media property inspired by a bestselling series of children’s books from Japan and geared toward newborns and toddlers, is now available exclusively at all Babies”R”Us stores and select Toys”R”Us stores across the United States. According to the companies, this collection includes apparel for children aged six months to four years, as well as accessories, activity books and stuffed animals.
“After seeing the success that Lazoo’s unique product line has achieved with its international launches, and the incredible customer response, we are thrilled to be the first and only retail destination in the U.S. to offer Lazoo products,” said Celeste Risimini-Johnson, VP divisional merchandising manager for Toys”R”Us, Inc. “Parents trust Babies”R”Us to provide great brands and fresh, new collections that offer quality merchandise for the little ones in their lives. The Lazoo brand encompasses all of these attributes with its imaginative characters and whimsical designs sure to engage parents and kids alike.”
Items in the Lazoo line range from $4.99 to $24.99 and incorporate vibrant colors, unique fabric combinations, applique details, and high-quality materials, the companies reported.
Hibett Sports 3Q comps up 12.5%, co. raises outlook
BIRMINGHAM, Ala. Hibbett Sports reported that net sales for the third quarter increased 14.8% to $167.4 million compared with $145.9 million for the 13-week period ended October 31, 2009. Comparable-store sales increased 12.5%. Net income for the third quarter increased 43.5% to $12.6 million compared with $8.8 million for the third quarter of fiscal 2010. Earnings per diluted share increased 45% to 44 cents compared with 30 cents for the third quarter of fiscal 2010.
Jeff Rosenthal, president and CEO, stated, “We are very excited about our performance over the last three quarters. Not only has Hibbett achieved three consecutive quarters of double digit comparable store sales growth, we have also experienced continued margin improvement. As a result, we are raising our earnings guidance for fiscal 2011. In addition, we are accelerating our store opening plans for this year.”
The company increased its earnings guidance for fiscal 2011 to a range of $1.63 to $1.66 per diluted share, which equates to 47 cents to 50 cents per diluted share for the fourth quarter, and a mid-single-digit increase in comparable-store sales for the fourth quarter.