ROTH investor conference is Sunday - Wednesday. Implications of a new tax on some high net-wealth individuals from Moss Adams Capital. "The Legacy of Bing," next up at SHACC. Details on Industry Insight.
Many in the footwear community may already know this, but for those who don't I thought I'd pass along the story.
PacSun CEO Sally Frame Kasaks talked about the footwear changes at PacSun at an investment conference in New York today.
NEW YORK (AP) -- After closing its footwear retail concept and eliminating most shoes from its stores, Pacific Sunwear of America Inc. will reintroduce a limited shoe selection in some stores in time for the back-to-school season, management said Wednesday.
Chief Executive Sally Frame Kasaks made the remarks, which were webcast, at the PiperJaffray consumer conference in New York.
Pacific Sunwear, like most retailers, has struggled amid a difficult retail environment, and in May said its fiscal first-quarter loss widened on lower sales and a charge related to the closure of a distribution facility.
It has exited its underperforming d.e.m.o. chain as well as its One Thousand Steps Footwear concept to focus on namesake stores.
In April, Anaheim, Calif.-based Pacific Sunwear said it was removing sneakers and fashion footwear from stores, although it is still carrying flip flops and sandals, Kasaks said.
However, Kasaks said the company will reintroduce a limited selection of young men's sneaker styles in 200 of its top performing stores beginning in August. The company operates a total of 818 stores and 122 outlet locations.
Removing the shoes allowed the company to free up back room space for clothes such as denim that needed to be replenished more quickly than footwear, Kasaks said.
She added that removing footwear from the back rooms is "a lot more efficient," since instead of having 800 to 1500 pairs of slow-moving footwear in back rooms stores can now store denim and other items there and "more immediately get goods out on the floor."
The brands of men's shoes that the top 200 stores will carry include Nike 6.0 casual sneakers and DC and Vans skate shoes.
"Its an edited assortment of fashion right shoes that fit with our newly positioned business," Kasaks said