financial
financial

Pacific Sunwear Closing Remaining 154 D.e.m.o. Stores

Move follows closure of 74 units last year, to result in pretax charge of $35 million to $50 million.

By
financial/news

Pacific Sunwear of California Inc. said today that it would be closing its remaining 154 D.e.m.o. stores “as soon as is practical,” which follows a strategic review of the business that was announced last October.

 

The retailer is also closing a distribution center in Anaheim, Calif., relocating the operations to a distribution center in Olathe, Kan.

PacSun will take a pretax charge for the closures of between $35 million and $50 million.

In the spring of 2007, the company closed 74 D.e.m.o. stores that it described as underperforming. Chairman and chief executive officer Sally Frame Kasaks said in a statement that the retailer strongly believes “that the best course for enhancing shareholder value is to focus our attention and resources on the PacSun business.”

 

For more, see Monday’s issue of WWD.

load comments

ADD A COMMENT

Sign in using your Facebook or Twitter account, or simply type your comment below as a guest by entering your email and name. Your email address will not be shared. Please note that WWD reserves the right to remove profane, distasteful or otherwise inappropriate language.
News from WWD
Newsletters

Sign upSign up for WWD and FN newsletters to receive daily headlines, breaking news alerts and weekly industry wrap-ups.

LatestPublications
getIsArchiveOnly= hasAccess=false hasArchiveAccess=false