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Pacific Sunwear

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BUSINESS
February 2, 2014
The company: Pacific Sunwear of California Inc. Headquarters: Anaheim Ticker: PSUN Leadership: Gary H. Schoenfeld, 51, chief executive since 2009 Employees: 2,100 Fiscal 2012 revenue: $803 million Fiscal 2012 net loss: $52 million Stock price: $2.88 at Friday's close 52-week range: $1.93 to $4.59 P/E ratio: N/A Quarterly dividend: none
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BUSINESS
February 2, 2014
The company: Pacific Sunwear of California Inc. Headquarters: Anaheim Ticker: PSUN Leadership: Gary H. Schoenfeld, 51, chief executive since 2009 Employees: 2,100 Fiscal 2012 revenue: $803 million Fiscal 2012 net loss: $52 million Stock price: $2.88 at Friday's close 52-week range: $1.93 to $4.59 P/E ratio: N/A Quarterly dividend: none
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BUSINESS
December 17, 1998
Directors of Pacific Sunwear of California Inc. have approved a "poison pill" plan designed to thwart any hostile takeover bids of the Anaheim-based casual apparel company. Pacific Sunwear, which has seen its shares tumble in recent months, says it isn't aware of any specific move to acquire the company. Under the plan, shareholders can buy the Pacific Sunwear shares at half market value if a person or group acquires more than 15% of the company's stock.
BUSINESS
February 2, 2014 | By Ronald D. White
The bitterly cold winter weather has helped to chill sales for teen apparel companies, especially one with a focus on summer and surf clothes and that California lifestyle. For Pacific Sunwear of California Inc., the freezing temperatures that stretched across the country and deep into the South is putting the icing on a difficult fiscal fourth quarter, which ended Feb. 1. PacSun, as it is more familiarly known, sells branded and proprietary casual apparel, accessories and footwear for teens and young adults.
BUSINESS
June 18, 2009 | Andrea Chang
Teen specialty retailer Pacific Sunwear of California Inc. named former Vans Inc. CEO Gary H. Schoenfeld to its chief executive post Wednesday. Schoenfeld succeeds Sally Frame Kasaks, who has served as CEO of the Anaheim retailer since 2006 and as board chairwoman since 2007. Pacific Sunwear said Kasaks wasn't pushed out from the top job and would remain a director. Schoenfeld, 46, will take over as chief executive June 29, the company said.
BUSINESS
November 3, 2000 | Dow Jones
Pacific Sunwear of California Inc. said Thursday it expects to meet analysts' lowered expectations for the third quarter after logging improved sales in September and October. The Anaheim-based retailer of casual clothing for teens and young adults said it expects earnings of 38 cents to 39 cents a share for the quarter ended Oct. 31. A First Call/Thomson Financial survey of 18 analysts predicted third quarter earnings of 38 cents a share.
BUSINESS
August 22, 2008 | From Times Wire Services
Clothing retailer Pacific Sunwear of California Inc. said it swung to a fiscal second-quarter profit on stronger sales and a smaller loss from discontinued operations. The Anaheim company posted a profit of $2.8 million, or 4 cents a share, compared with a loss of $10.5 million, or 15 cents, a year earlier. Results from continuing operations totaled $3.7 million, or 6 cents a share, compared with $9.3 million, or 13 cents, a year earlier. Sales rose to $312.7 million from $311.
BUSINESS
February 6, 2011 | By Andrea Chang, Los Angeles Times
The gig: Chief executive of teen retailer Pacific Sunwear of California Inc. since 2009. The Anaheim seller of surf and skate apparel, which has reported sales declines and losses for the last nine quarters, is struggling to recover from the recession and has lost business to trendier competitors such as Forever 21, H&M and Aeropostale. PacSun has about 850 stores, most of them in malls. First impressions: After being offered the PacSun job, "I went out and looked at some of the stores," Schoenfeld said.
BUSINESS
August 27, 2013 | By Tiffany Hsu
Billabong International Inc., a 40-year-old Australian surfwear company, reported its most dismal earnings ever as it wrote down the value of its namesake brand to zero. For the fiscal year ended June 30, the business said it suffered a net loss of 859.5 million Australia dollars, or about $770 million. That's more than triple the loss the company reported the prior year. The Billabong brand is now essentially worthless, the company said, after its value was pegged at roughly $226 million a year earlier.
BUSINESS
May 3, 2012 | By Tiffany Hsu
When it comes to creating value, Occidental Petroleum Corp. Chief Executive Stephen I. Chazen beats out other Southern California business leaders, according to a new report from Pepperdine University. Chazen helped his Los Angeles company pull in $3.4 billion in so-called economic profit in 2011, an increase of $1.6 billion from 2010, according to the self-funded report from the university's Graziadio School of Business and Management along with management consultant SCCO International.
BUSINESS
February 6, 2011 | By Andrea Chang, Los Angeles Times
The gig: Chief executive of teen retailer Pacific Sunwear of California Inc. since 2009. The Anaheim seller of surf and skate apparel, which has reported sales declines and losses for the last nine quarters, is struggling to recover from the recession and has lost business to trendier competitors such as Forever 21, H&M and Aeropostale. PacSun has about 850 stores, most of them in malls. First impressions: After being offered the PacSun job, "I went out and looked at some of the stores," Schoenfeld said.
BUSINESS
November 18, 2009 | Andrea Chang
Pacific Sunwear of California Inc. suffered a major wipeout Tuesday, a day after posting a loss and releasing a sales forecast that missed expectations. The Anaheim teen retailer, which sells surf- and skate-inspired apparel and accessories, saw its shares plummet $1.13, or 22.6%, to $3.88. The chain reported after the markets closed Monday that it lost $10.9 million, or 17 cents a share, in its third quarter ended Oct. 31. That compared with a loss of $3.5 million, or 5 cents, in the same quarter last year.
BUSINESS
August 21, 2009 | Andrea Chang
A challenging second quarter hammered earnings at two California-based teen retailers, while apparel giant Gap Inc. narrowly beat expectations with profit that was little changed from last year. On Thursday, Pacific Sunwear of California Inc. reported a quarterly loss of $14.2 million; Wet Seal Inc. said its profit fell 69.3% compared with a year earlier; and Gap reported profit of $228 million, or 33 cents a share, compared with $229 million, or 32 cents, a year earlier. The results for the companies' fiscal second quarter ended Aug. 1 highlight the troubles still plaguing many retailers, especially those that sell apparel and accessories, which are easier to forgo during the recession.
BUSINESS
June 18, 2009 | Andrea Chang
Teen specialty retailer Pacific Sunwear of California Inc. named former Vans Inc. CEO Gary H. Schoenfeld to its chief executive post Wednesday. Schoenfeld succeeds Sally Frame Kasaks, who has served as CEO of the Anaheim retailer since 2006 and as board chairwoman since 2007. Pacific Sunwear said Kasaks wasn't pushed out from the top job and would remain a director. Schoenfeld, 46, will take over as chief executive June 29, the company said.
BUSINESS
May 22, 2009 | Times Wire Reports
Teen retailer Pacific Sunwear of California Inc. posted a smaller first-quarter loss that topped Wall Street expectations, despite a drop in same-store sales. Pacific Sunwear reported a loss of $8.7 million, or 13 cents a share, compared with a loss of $37.1 million, or 17 cents, a year earlier. Sales declined 16% to $223.5 million as sales at stores open at least one year slid 18%. But results still beat expectations of analysts polled by Thomson Reuters, who had forecast a loss of 29 cents a share and sales of $214.
BUSINESS
January 29, 2009 | Andrea Chang
Teen specialty retailer Pacific Sunwear of California Inc. on Wednesday became the latest company to announce sweeping cost-cutting plans to cope with the worsening economy. The retailer, which sells mainly surf and skate apparel and accessories, said it would eliminate 47 positions at its Anaheim headquarters and 10 field management positions, which would reduce its headquarters and field management staff by about 11%.
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