Pacific Sunwear of California Inc., which sells casual apparel for young adults, said Wednesday it will double the number of its music- and sports-fashion stores as it expands by almost 28%.
The Anaheim-based company, which operates the Pacific Sunwear and d.e.m.o retail chains, plans to add 125 stores to the 450 it will have at the end of its fiscal year in January, said Chairman and Chief Executive Greg Weaver, speaking at a Banc of America Securities conference in San Francisco.
Pacific Sunwear is opening 108 stores this year as it tries to become a dominant retailer of casual clothes and shoes for young people. Its sales are expected to be $429 million this year, a 33% increase from the $321.1 million last year.
The company will double the number of its d.e.m.o. stores to 80 next year, Weaver said. Those stores carry fashions inspired by music and professional sports. It expects to expand to 455 from 385 the number of its namesake stores that feature clothes inspired by surfers and skateboarders. It will increase the number of outlet stores to 40 from 25, Weaver said.
It also will expand its Pacific Sunwear stores to 4,000 square feet from 3,500 square feet to add more women's clothes, Weaver said.
The company has a goal of operating more than 700 Pacific Sunwear stores, 75 outlet locations and 200 d.e.m.o. stores, Weaver said.
Pacific Sunwear shares rose $2.38, to $28.66, in Nasdaq trading.