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Author: JerseyBull Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 278  
Subject: Watch PSUN in 2007 Date: 1/12/2007 8:52 AM
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Dear Fellow Fools:

Here is an article from Orange County Business Journal amid PSUN looking for a new CEO, decreasing same store sales, new line for men's clothing and lot more...this is an interesting retailer to watch. Any takes for the company's prospects in 2007?

"2007 PREVIEW
COMPANY TO WATCH: PACIFIC SUNWEAR OF CALIFORNIA INC.
Bellantonio, Jennifer
344 words
18 December 2006
Orange County Business Journal
8
Volume 29; Issue 51; ISSN: 10517480
English
Copyright (c) 2006 Bell & Howell Information and Learning Company. All rights reserved.

The hunt will be on for Anaheim-based Pacific Sunwear of California Inc.

The teen clothing retailer, which runs stores selling surfwear and urban styles, has been looking tor a permanent chief executive since October and is expected to find someone in 2007.

Former boss Seth Johnson left the company in October amid poor results. Interim chief executive Sally Frame Kasaks took the reins.

Kasaks, a Pacific Sunwear director, has been overhauling stores, talking to clothing makers about what's hot and not and trying to reverse fashion misses that plagued the retailer for most of the year.

Same-store sales were down 3.8% in November after falling 6.7% in the third quarter.

Expect more changes to come, particularly in sneakers, girls clothing and accessories at the company's dominant PacSun surfwear chain.

A new shoe merchandiser plans to bring in different styles, particularly slip-on canvas sneakers, for the holidays and spring.

The company toned down expansion plans for next year.

It has 1,200 stores, the bulk of which are PacSun followed by d.e.m.o., which sells hip-hop and urban-style clothes. The company also has nine One Thousand Steps stores, a new shoe and accessories seller still in the testing phase.

The retailer has been getting pressure from competitors, such as Abercrombie & Fitch Co.'s Hollister chain, which do a better job at merchandising and luring shoppers, particularly girls.

This fall. Pacific Sunwear tapped a new leader, Brad Cunningham. for its struggling girls clothing division. Cunningham is a former general merchandise manager for trendy young women's clothing retailer Charlotte Russe Holding Inc. of San Diego.

He's begun to revamp the division but the company said most changes won't play out until next year.

Girls clothing accounted for about 30% of the company's sales in 2005. The company said it hopes to grow it to 50% alongside men's.

-Jennifer Bellantonio "


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