Seth Johnson has another year to boost sales at Pacific Sunwear of California Inc., the Anaheim-based company said in a regulatory filing Wednesday.
Johnson, chief executive of the surf and urban clothing retailer, had his contract extended for a year to Oct. 31, 2007. Johnson took over from longtime chief executive Greg Weaver last year.
Pacific Sunwear has been struggling with fashion and merchandising missteps.
Overall same-store sales fell 2.7% in June. Sales were off 2% at the company’s dominant PacSun surfwear chain and fell 8.5% at its smaller d.e.m.o. urban chain.
Last month, Pacific Sunwear said it expects to earn about $14 million in the second quarter, about 15% lower than what analysts had been expecting.
The company’s shares closed Wednesday at $16.40, off a 52-week high of $28.
