Anaheim’s PacSun looks to catch a new wave

From the Los Angeles Times

It wasn’t a wipeout, but the last few years haven’t been kind to troubled Pacific Sunwear of California Inc.

The Anaheim retailer, once the first stop at the mall for teens looking for surf and skate apparel, strayed from its roots by moving away from core action sports brands in favor of private-label merchandise that was less expensive but unfamiliar.

It got rid of its shoe business and over-discounted its merchandise, giving the chain a clearance-like feel. Along the way, PacSun lost customers to trendier teen stores such as Hollister, Aeropostale and American Eagle Outfitters and cheap-chic sellers Forever 21 and H&M.

“Those were the destinations that had buzz,” Chief Executive Gary Schoenfeld acknowledged in a recent interview. “And PacSun just fell out of the equation.”

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