Pacific Sunwear has decided to reduce its dependence on the sneaker portion of its footwear business, but plans to continue to sell sandals, slippers and certain sneaker categories, it said in a filing with the Securities & Exchange Commission.
The California-based company said the transition is expected to occur throughout fiscal 2008. For the full 2008 fiscal year, the company currently expects its footwear business to represent approximately 6-8 percent of total merchandise sales.
