Orange County’s top homegrown retailers continue to go in different directions.
Anaheim-based Pacific Sunwear of California Inc. said Thursday that same-store sales grew 5.3% for the five-week period ended Jan. 1. Struggling Foothill Ranch-based Wet Seal Inc. said same-store sales in the period fell 11.8%.
PacSun reported an 8.3% gain at its urban-themed d.e.m.o stores, with sales rising 5% at its other stores. PacSun said it was comfortable with Wall Street estimates of about $40 million in net income in the fourth quarter.
The company is set to get a new chief executive in April when Greg Weaver steps down to make way for Seth Johnson, PacSun’s chief operating officer. Johnson joined PacSun in November from Abercrombie & Fitch Co.
Wet Seal, meanwhile, has kicked off a major restructuring. It plans to shutter some 150 stores by the end of February. The company operates 463 Wet Seal stores and 96 Arden B. stores.
OC stores closing include ones at The Shops at Mission Viejo and Laguna Hills Mall.
Wet Seal has about 5,000 workers, but said 2,000 employees would be cut in the liquidation.
Wet Seal shareholders are set to vote on a $56 million funding plan on Monday.
A few weeks ago Wet Seal named Joel N. Waller as chief executive. Waller, chairman of Brooklyn Park, Minn.-based Wilsons The Leather Experts Inc., is set to take over the struggling retailer Feb. 1 after he steps down at Wilsons.
Waller replaces interim chief Joseph Deckop who stepped in after Peter Whitford resigned amid the retail chain’s continuing sales woes.
