MOSS ADAMS CAPITAL: Apparel and foowear market monitor highlights notable deals, stock prices and results.
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Fox became one of the top three brands as a percentage of net sales for PacSun in 2008, overtaking Volcom, according to Pacific Sunwear's annual report released today.
Fox accounted for 9 percent of total net sales, Quiksilver-owned brands 10 percent and Billabong-owned brands 11 percent.
In fiscal 2007, the top three companies were Quiksilver-owned brands 12 percent, Billabong-owned brands 10 percent, and Volcom 6 percent.
Also of note, Pacific Sunwear shed a total of 5,000 employees in 2008, a 31 percent reduction. The company now has 11,000 employees.
The biggest decline came with part-time workers. The company ended fiscal 2008 with 7,500 part-time employees vs. 11,500 at the end of 2007.
Corporate headquarters and the distribution center lost 100 jobs during 2008, and now have 600 employees vs. 700 last year.
PacSun ended 2008 with 932 stores, 22 less than the previous year.