Sponsors
Billabong ▼ -0.010 | PPR ▲ +0.65 | American Apparel ▲ +0.010 | The Buckle ▼ -0.47 | Columbia ▼ -0.10 | Deckers Outdoor ▲ +0.76 | Dicks ▼ -0.06 | Foot Locker ▲ +0.52 | Genesco ▲ +0.08 | Iconix Brand Group ▲ +0.09 | Jarden Corp ▼ -0.37 | Nordstrom ▼ 0.00 | Luxottica ▲ +0.75 | Nike ▼ -0.38 | Pacific Sunwear ▼ -0.03 | Skullcandy ▼ 0.00 | Sport Chalet - 0 | Urban Outfitters ▼ -0.18 | VF Corp ▲ +0.09 | Quiksilver ▼ -0.04 | Zumiez ▼ -0.07 | Macys ▼ -0.31 | Tillys ▲ +0.13 |
Ticker Sponsor
Readers Say
The first thing I look at
The first thing I look at

I find Shop-Eat-Surf to be a very useful and informative site that I enjoy browsing daily. Shop-Eat-Surf is the first thing I look at every morning to keep up-to-date on the latest talk, events, and happenings in the industry. I must say I am a fan of Shop-Eat-Surf.

- By Bobby Abdel, Partner, Jack's Surfboards
Always a good daily read
Always a good daily read

Shop-Eat-Surf creates a good source of timely information about the industry. The site makes all types and size companies feel part of a community where everyone is stoked to hear about other companies successes and ideas. It is always a good daily read.

- By Ted Li, VP of North America, Oakley
Industry Insight

MOSS ADAMS: Webinar 12/2 on internal controls to increase the value of your business.
AGENDA: 12/30 deadline to pre-register for Jan. 5-6 Long Beach show.
CIT TRADE FINANCE: Middle-market retailers cautiously optimistic for holiday.
Details on Industry Insight.


Tiffany Montgomery
Print This Article

More details on Tom Kennedy's resignation from PacSun

By Tiffany Montgomery
December 11, 2008 6:43 AM

A few more details emerged yesterday about the departure of PacSun division President Tom Kennedy during a Pacific Sunwear presentation at a Wedbush Morgan Securities investor conference.

The PacSun division president job was designed for the company when it had multiple chains, Vice President of Investor Relations Gar Jackson said. Now that the company has only PacSun, that extra layer was not needed. Going forward, the head merchants for guys and juniors will report directly to CEO Sally Frame Kasasks.

A few other interesting notes from his talk:

- PacSun is having a good response to the new colored denim currently in stores. Color denim will also be a key item for spring.

- The company was very pleased with its Black Friday performance. Jackson said promotions drove traffic, and the company remains promotional as it tries to work through its inventory. PacSun started the quarter with inventory up 12 percent and it expects to end the fourth quarter with inventory down 9 percent.

- Gift card sales are weaker this year.

- Texas and the Midwest are the only strong regions for the company.

- The company reviews its leases during the normal course of business and will close about 30 to 40 stores over the next three years. Currently, PacSun has 816 regular stores and 126 outlet stores.

 


Articles You Might Have Missed