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PacSun cuts Q4 loss
ANAHEIM, Calif. — Pacific Sunwear of California announced that net sales from continuing operations for the fourth quarter of fiscal 2012 ended Feb. 2, were $228 million versus net sales from continuing operations of $218.7 million for the fourth quarter of fiscal 2011 ended Jan. 28, 2012.
Comparable-store sales for the fourth quarter of 2012 increased 1%.
The company ended fiscal 2012 with 644 stores, compared with 733 as of the end of fiscal 2011. The company closed 78 stores in the fourth quarter of fiscal 2012.
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Starbucks to expand loyalty program to Teavana and supermarkets
Seattle -- Starbucks Coffee Co. is expanding its customer loyalty program to the supermarket channel and its Teavana stores as it looks to double membership from 4.5 million members at the end of October 2012 to approximately nine million members by the end of fiscal 2013.
Starbucks made the announcement at the company’s annual shareholders on Wednesday in Seattle. Also at the meeting, Starbucks investors rejected a shareholder proposal to prohibit the chain from making political contributions or forming a political action committee.