Anaheim-based Pacific Sunwear of California Inc. has tapped a former Vans Inc. executive to lead the mall retailer as it works through a turnaround.
Gary H. Schoenfeld is set to take over as Pacific Sunwear’s chief executive on June 29.
He’s replacing Sally Frame Kasaks, who’s lead Pacific Sunwear since 2006. Kasaks, who also is chairman, is set to stay on Pacific Sunwear’s board as a director.
Director Peter Starrett is set to succeed Kasaks as chairman.
Schoenfeld is best known in Orange County for leading Cypress-based shoe and clothing maker Vans up to its 2004 sale to North Carolina’s VF Corp.
During 2006 to 2008, he served as vice chairman, president and co-chief executive of Los Angeles-based Global Brands Group, a product licensing and marketing company best known for clothes and other products made under license from soccer’s F & #233;d & #233;ration Internationale de Football Association, better known as FIFA.
Schoenfeld helped turn around Vans,skills he’ll need at Pacific Sunwear.
The company, which runs 927 stores nationwide selling surf-inspired clothing, has been struggling as shoppers pull back or bypass it for other retailers.
Pacific Sunwear lost $8.7 million for the three months through May 2, down from a loss of $12 million a year earlier.
Sales for the three months were $223.5 million, down 16% from a year earlier.
For the current three-month period through July, Pacific Sunwear said it expects a loss of $7.3 million to $11.3 million, more than analysts had been expecting.
Same-store sales, a measure of sales at stores open at least a year, are seen declining 17% to 20% from a year earlier.
With Kasaks’ changing role, the county loses its most high-profile woman chief executive.
She’s overseen restructuring and fended off a long-shot takeover bid by Miami retailer Adrenalina Group.
Kasaks served as a Pacific Sunwear director for 10 years before stepping in as interim chief in 2006 and then being named permanent leader in 2007.
She’s the only woman chief executive at major public companies based here.
