First Insight Extends Agreement with Pacific Sunwear
Retailer Confirms Value Delivered through First Insight’s Predictive Analytic
Solution for New Product Selection and Pricing
PITTSBURGH -- June 6, 2013
First Insight, Inc., a technology company providing leaders in the retail
industry with a predictive analytic solution for new product evaluations,
today announced the extension of its agreement with Pacific Sunwear of
California, Inc., a leading specialty retailer rooted in the action sports,
fashion and music influences of the California lifestyle. First Insight’s
consumer-driven analytics are used by Pacific Sunwear to help it make faster
and more accurate design, buying and pricing decisions, with the goal of
reducing markdowns and mitigating risks associated with new product
“We are seeing value in the First Insight solution, and based on that, we made
the decision to extend our agreement with the company,” said Craig Gosselin,
SVP and General Counsel of Pacific Sunwear. “We continue to be encouraged by
the First Insight platform’s ability to provide a level of speed, scalability
The First Insight solution provides manufacturers and retailers with strategic
investment guidance on thousands of new products and designs. First Insight
engages consumers through online social engagement tools to gather real-time
data on new products. This data is filtered through First Insight’s predictive
analytic models to determine which products present the greatest opportunity.
First Insight’s solution enables retailers such as Pacific Sunwear to:
*Evaluate a greater number of designs or products quickly, increasing speed
*Calibrate inventory buys based on direct consumer input and predictive
*Optimize pricing and allocation strategies to maximize ROI.
“We are thrilled to be extending our partnership with Pacific Sunwear,” said
Greg Petro, President and CEO of First Insight. “Our mission is to provide
retailers such as Pacific Sunwear with a fast, scalable solution that lets
them leverage customer feedback and predictive analytics to make product
decisions with confidence.”
About First Insight, Inc.
First Insight is the leading predictive analytic consumer testing solution
that retailers use to select the most profitable new products for improved
sales, margins and inventory turnover. With the use of First Insight data,
retailers gain a forward-looking view of customer demand and merchandise
profitability. Based in Pittsburgh, PA, First Insight creates unique consumer
experiences and engages large groups of consumers, while collecting valuable
preference and pricing data. Implementing First Insight’s predictive analytic
solution gives retailers guidance for product design, buying, assortment
planning, pricing and marketing decisions. Customers include Fortune 500
companies, including leading department stores, specialty retailers, sporting
goods, home, jewelry and footwear companies. For further information, please
About Pacific Sunwear of California, Inc.
Pacific Sunwear of California, Inc. and its subsidiaries (collectively,
"PacSun" or the "Company") is a leading specialty retailer rooted in the
action sports, fashion and music influences of the California lifestyle. The
Company sells a combination of branded and proprietary casual apparel,
accessories and footwear designed to appeal to teens and young adults. As of
June 5, 2013, the Company operated 638 stores in all 50 states and Puerto
Rico. PacSun's website address is www.pacsun.com.
Berns Communications Group, LLC
Michael McMullan, 212-994-4660
Pacific Sunwear, Inc.
Craig Gosselin, 714-414-4667
SVP, General Counsel
First Insight, Inc.
Jim Shea, 724-759-7141
Chief Marketing Officer
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