PACSUN PROXY THREAT: Two days after withdrawing its buyout offer for Pacific Sunwear of California Inc., extreme sports retailer Adrenalina again sought a meeting with PacSun management to “avoid a costly proxy fight.” In a letter to Sally Frame Kasaks, PacSun chairman and chief executive officer, Adrenalina chairman and ceo Ilia Lekach said a meeting was in the “best interest of all shareholders.” Adrenalina, which operates three stores, offered to buy the 942-unit PacSun in October for $4.50 a share, valuing the company at approximately $300 million. The company then increased its bid to $5 a share, or about $329 million. PacSun rejected both offers and had no comment on Adrenalina’s latest move. PacSun shares rose 10.6 percent to close at $1.99 Wednesday. Adrenalina’s stock wasn’t traded during the day and remained at 70 cents a share.
Peter Kim's Los Angeles-based premium denim line has always had its finger on the pulse of youth. This season, novelty is back in a way reminiscent of early Aughts, with studs, lace-ups, racing waxed denim and more. For more highlights if some of the key brands at the Vegas trade shows, go to WWD.com. #wwdfashion (📷: Patrick Gray; Styled by @thealexbadia; Story by @karihamanaka and @marcy_wwd)
"I was driving back on Saturday afternoon from the beach, and I just saw this sign saying 'Skydiving for $95.' And I was like, I can't not sky dive for $95," says Tom Bateman about a moment in Hawaii while shooting "Snatched." #wwdeye (📷: @vsteves; Interview by @ktauer; Styled by @thealexbadia)