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Pacific Sunwear Q4 net loss widens
Anaheim, Calif. -- Pacific Sunwear of Calif. Inc. reported Tuesday that its loss for the quarter ended Jan. 28 widened to $38.1 million, compared with a net loss of $35.2 million a year earlier. Sales dipped 1% to $234.2 million from $237.6 million, missing Wall Street’s expected revenue of $245.9 million.
PacSun has been in the throes of a right-sizing effort, working to build sales while closing underperforming stores. The company closed 87 stores during fourth quarter and ended fiscal 2011 with 733 stores.
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Ikea to unveil newer, more energy efficient store in Canada
Burlington, Ontario -- Ikea Canada said that it has turned its focus to sustainability in Canada during a period of expansion in the country.
As the retailer opens three stores this year in Canada, it said it is committed to having this new wave of stores be 40% more efficient than the last store built in 2004.