June 18, 2009 |
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.
May 22, 2009 |
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.
January 29, 2009 |
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%.
November 19, 2008 |
Clothing retailer Pacific Sunwear of California Inc. said it narrowed its fiscal third-quarter loss and total sales fell 5% as cautious consumers continued to pull back on their spending. The company said it posted a net loss of $2.5 million, or 4 cents a share, for the period that ended Nov. 1, compared with a loss of $20 million, or 29 cents, a year earlier. The company said the quarter included a goodwill impairment charge of about $4.2 million, or 6 cents a share. Results from continuing operations, which exclude results from businesses that have been sold or are in the process of being sold, amounted to a loss of $3.5 million, or 5 cents a share, compared with income of $17.1 million, or 25 cents, from the previous year.
August 22, 2008 |
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.
October 25, 2007 |
Pacific Sunwear of California Inc. said Wednesday that it would close its fledgling shoe-store division and seek "strategic alternatives" for the urban-themed demo chain. Analysts applauded the Anaheim company's decision, saying it was time for the surf and skate apparel seller to focus on its core business, PacSun. Investors liked the idea too; shares jumped 5% in after-hours trading after rising 8 cents to $15.42.