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Thursday
October 25, 2007
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Pacific Sunwear Looking To Sell Two Struggling Chains

Pacific Sunwear Looking To Sell
Demo Clothing Store Chain

Pacific Sunwear said that it is “looking to sell its struggling demo clothing store chain and plans to close its fledgling One Thousand Steps stores selling shoes,” according to Michael Lyster of the ORANGE COUNTRY BUSINESS JOURNAL. The company has 150 demo stores, which sell “urban, hip-hop style clothes,” and nine One Thousand Steps locations. The move will leave Pacific Sunwear with its 960 PacSun stores, which “sells clothes inspired by surfing and skateboarding at malls across the country.” demo and One Thousand Steps lost $21M in the past last three quarters and demo’s September same-store sales fell by 15.4%, compared to a 5.4% gain at PacSun stores (OCBJ.com, 10//24). Shares of Pacific Sunwear increased 5% in after-hours trading yesterday after rising $.08 to $15.42 (L.A. TIMES, 10/25). At presstime, Pacific Sunwear’s shares were trading at $16.68, up 8.17% from yesterday’s close (THE DAILY).

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