Pacific Sunwear of California Inc. said today that it would be closing its remaining 154 D.e.m.o. stores “as soon as is practical,” which follows a strategic review of the business that was announced last October.
The retailer is also closing a distribution center in
PacSun will take a pretax charge for the closures of between $35 million and $50 million.
In the spring of 2007, the company closed 74 D.e.m.o. stores that it described as underperforming. Chairman and chief executive officer Sally Frame Kasaks said in a statement that the retailer strongly believes “that the best course for enhancing shareholder value is to focus our attention and resources on the PacSun business.”
For more, see Monday’s issue of WWD.