Hampered by a struggling women’s business battered by a double-digit same-store sales decline, Pacific Sunwear of California Inc. was barely able to reduce its fourth-quarter net loss, causing the West Coast-inspired apparel retailer to miss analysts’ fourth-quarter earnings and sales projections.
The retailer, which also projected a larger-than-expected loss in its first quarter, disclosed late Tuesday that it would shutter between 30 and 50 stores in 2011. Over the next few years, it hopes to reduce its fleet of 839 stores by between 100 and 150 stores.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)