News

ANAHEIM, Calif. -- A former Disney executive has been tasked with overseeing the financial performance of Pacific Sunwear of California, a retailer which recently reported a 7% decline in same-store sales and a net loss of $35 million for its 2010 fourth quarter. 

The company announced that Michael Kaplan will join the company as SVP and CFO, effective May 2. He will be replacing Mike Henry who became interim CFO in November 2007 and was named CFO in January 2008.

SUNBURY, Pa. -- Weis Markets reported that for its first quarter ended March 26, net income increased 7% to $18.6 million compared with $17.4 million for the same period in 2010.  Basic and diluted earnings per share increased 6.2% to 69 cents per share.

Weis attributed its higher earnings to an increase in store level operating income due to the increasingly efficient operation of its stores and disciplined marketing and advertising along with targeted promotional activity in key markets.

San Francisco -- 5th Finger, a leading mobile marketing technology firm, has announced plans to bring in-store mobile trials to JoS. A. Bank Clothiers. 5th Finger will be testing the role of the mobile device to drive "consumer outcomes" including ensemble inspiration, shopper education and offer redemption "in store" leading up to the summer season.

LOUISVILLE, Ky. -- GE announced that it is helping North American consumers become more familiar with induction cooking with the launch of Induction101.com.

HOFFMAN ESTATES, Ill.  -- Kmart is taking advantage of the warmer weather starting to creep in across the country to promote its line of outdoor furniture and decor.

In a press release, the company reminded consumers of its selection, including the outdoor La-Z-Boy set featuring an indoor/outdoor recliner, and the Jaclyn Smith and Country Living collections, which feature such classic styles as retro red steel clam chairs, table and rocker.

Walmart’s acquisition of Kosmix will shorten the company’s social media learning curve and open the door for some intriguing new possibilities, even if those possibilities aren’t quite clear just yet.

New York City -- The high price of cotton is one of the biggest challenges that J.C. Penney Co. faces this year, chairman and CEO Mike Ullman said during a panel discussion at Southern Methodist University, the Dallas Business Journal reported.

Cotton prices in March hit their highest levels in decades after floods in Australia and Pakistan and freezes in China wiped out farmers' crops. That means consumers will see rising clothing prices for the first time in more than 20 years, Ullman said, who predicted increases of 5% to 20%.

Walmart came in ranked at number 13 out of 20 seafood retailers on a recent report from Greenpeace titled, “Carting Away the Oceans.” It is the fifth year the environmental group has published the report, which examines the retail industry’s seafood practices, and last year Walmart was ranked ninth. None of the companies included in the report are where Greenpeace thinks they should be in terms of sustainability and responsible harvesting practices, but the organization does acknowledge progress is being made.