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Thursday, Dec 8, 2022

PacSun Opens First Shoe Stores

Anaheim-based Pacific Sunwear of California Inc. said Friday it opened its first three shoe stores as it battles sluggish sales at its existing chains.

Pacific Sunwear debuted One Thousand Steps stores at the Galleria at Tyler in Riverside, Los Cerritos Center in Cerritos and the Mall of America in Minneapolis.

The retailer is targeting 18- to 24-year-olds with the shoe stores, which will carry gear from Puma, Diesel, Steve Madden, Kenneth Cole and Tsubo, among others. One Thousand Steps also will sell watches, belts and bags.

Pacific Sunwear plans to open up to 10 of the shoe stores in the first half of the year.

“This new concept gives us an exciting growth vehicle that adds a new and distinct customer base to our existing businesses,” said Pacific Sunwear Chief Executive Seth Johnson.

The openings come a day after Pacific Sunwear reported disappointing March sales.

The company reported a lower than expected 11% drop in March same-store sales and cut its profit estimate for the first quarter.

Wall Street had expected a 2.6% decline in the company’s stores that have been open at least a year.

Pacific Sunwear’s dominant surfwear chain PacSun saw a 12% decline in same-store sales last month. The company’s smaller d.e.m.o. chain selling urban styles was off 3.9%.

The company called the March and February “challenging” and lowered its first-quarter profit outlook by 23%, the second time Pacific Sunwear has lowered its outlook for the recently ended quarter.

Pacific Sunwear operates 1,112 stores in all.

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