Pacific Sunwear of California, Inc. announced the resignation of Christine Lee, its senior vice president of Women's Merchandising and Design. Brieane Breuer, who joined PacSun in 2007 and is the company's current vice president of women's design, will assume the additional responsibilities of women's merchandising on an interim basis.
Breuer received her Master's Degree in fashion design and styling from Istituto Marangoni and over the past 13 years has held various merchandising and design roles at high-end fashion brands such as Valentino, as well as at Abercrombie & Fitch.
The company also stated that it expects its non-GAAP loss from continuing operations per diluted share for the second quarter of fiscal 2014 to be generally in line with analysts' consensus estimates of $(0.03), which compares favorably to the company's previously issued non-GAAP guidance of $(0.08) to $(0.02).
“Sales trends across the business have generally improved in both June and July with Men's again on track to achieve a positive comp for the second quarter,” said Gary H. Schoenfeld, President and CEO of Pacific Sunwear. “Based on the strength of our brand assortment, along with our leadership position with the Men's jogger for back-to-school, we expect Men's to continue its positive momentum as we look ahead to the third quarter.”
Schoenfeld continued: “With respect to our Women's business, we are focused on four key areas: (1) Increasing the penetration of brands, which further differentiates us from our competitors in the mall; (2) Leveraging the vision of our design team even more by leading with new trends; (3) Strengthening our non-apparel business; and (4) Driving growth online.”
“I appreciate all of the efforts Christine has put forth over the past four years to help re-position the PacSun business,” said Schoenfeld. “I am eager to work even more closely with Brie and the rest of our Women's team to successfully tackle our key initiatives. I am excited by several recent creative concepts coming from our design team and optimistic that the Women's business can soon get back to positive comps as well.”
As of July 31, Pacific Sunwear of California operated 618 stores in all 50 states and Puerto Rico as well as www.pacsun.com .
