FLUSH TEEN RETAILERS: Pacific Sunwear of California Inc. said Thursday that its board has approved a stock buyback of an additional $50 million worth of shares. The Anaheim, Calif.-based company said it repurchased about 3.5 million shares at an average purchase price of $21.30 during the first half of 2004. Pacific Sunwear said the cash expenditure won’t affect plans to open new stores in 2004 or 2005, and the company projects a year-end cash balance of $150 million. Separately, Bebe Stores Inc. said it will pay its first quarterly cash dividend of 5 cents a share on Sept. 30 to shareholders of record as of Sept. 9. The women’s apparel retailer had reported on Aug. 12 that profit for its fourth quarter, ended June 30, surged 157.6 percent to $8.4 million, but it projected first-quarter earnings of 16 cents to 19 cents a share, possibly hitting below analysts’ consensus of 19 cents a share. In addition, Brisbane, Calif.-based Bebe said it expects to open 11 Bebe stores, eight Bebe Sport stores and one outlet store in 2005.

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