AGENDA: Dec. 30 deadline to pre-register for Jan. 5-6 Long Beach trade show.
CIT TRADE FINANCE: Middle-market retailers cautiously optimistic for holiday.
Details on Industry Insight.
ANAHEIM, Calif., April 20, 2011 (GLOBE NEWSWIRE) -- Pacific Sunwear of California, Inc. (Nasdaq:PSUN - News) (the "Company") today announced that Michael Kaplan will join the Company as Senior Vice President and Chief Financial Officer, effective May 2, 2011. He will be replacing Mike Henry who became interim CFO in November 2007 and was named CFO in January 2008.
"Michael is a highly regarded, operations-oriented financial executive with extensive experience in a number of critical areas including inventory management, cost control, real estate and store labor," said Gary H. Schoenfeld, President and Chief Executive Officer. "His 16 years at Disney and five years combined as CFO of the Gap Outlet division and then CFO/SVP for Banana Republic gives him an excellent background for joining PacSun and rounding out the executive team that we have been building over the past year and a half."
Most recently, Mr. Kaplan was Chief Financial Officer of Harbor Freight Tools, a privately held 349-store retailer of proprietary branded tools. Prior to joining Harbor Freight Tools in 2010, he was a senior executive of Gap, Inc. from 2005 to 2010. From 1989 to 2005, Mr. Kaplan held various financial positions with The Walt Disney Company including Vice President of Financial Planning and Control for the Disneyland resort division from 2001-2005.
Mr. Kaplan is a CPA and a graduate of the University of California at Los Angeles.
Mr. Schoenfeld concluded, "I would like to thank Mike Henry for his many years of service to PacSun, and we wish him well in his future endeavors."
Pacific Sunwear of California, Inc. and its subsidiaries (collectively, the "Company" or "PacSun") is a leading specialty retailer rooted in the action sports, fashion and music influences of the California lifestyle. The Company sells a combination of branded and proprietary casual apparel, accessories and footwear designed to appeal to teens and young adults. As of April 20, 2011, the Company currently operates 828 stores in 50 states and Puerto Rico. PacSun's website address is www.pacsun.com.