Editor’s note: Wet Seal subsequently announced it has hired Christine Lee as EVP and Chief Merchandising Officer.
PacSun announced today that the leader of its women’s business is resigning.
The company also commented on current sales trends and on the recent performance of men’s.
Christine Lee, SVP/GMM of Women’s Merchandising and Design, joined PacSun in early 2010 and has transformed the female business. Under her leadership, PacSun attracted an older, more fashion-savvy shopper.
Before PacSun, Christine spent 20 years with Urban Outfitters. She started her career there as a sales associate and worked her way up to GMM of Women’s Apparel and Accessories.
While the women’s business at PacSun has been strong for several years, rising 2% in 2012 and 6% in 2013, sales have slowed so far this year. Non-apparel categories like accessories and footwear have been particularly tough.
Replacing Christine on an interim basis is Brieane Breuer, VP of Women’s Design. She has worked at PacSun since 2007 and has held different merchandising and design roles at companies like Valentino as well as Abercrombie & Fitch.
“I appreciate all of the efforts Christine has put forth over the past four years to help re-position the PacSun business,” CEO Gary Schoenfeld said in a statement. “I am eager to work even more closely with Brie and the rest of our Women’s team to successfully tackle our key initiatives. I am excited by several recent creative concepts coming from our design team and optimistic that the Women’s business can soon get back to positive comps as well.”
In the release Gary outlined four key initiatives for women’s going forward:
• Increasing the penetration of brands, which PacSun believes will further differentiate it from competitors at the mall. PacSun has had success with the Brandy Melville and the Kendall & Kylie brands.
• Leveraging the design team even more by leading with new trends
• Strengthening the non-apparel business
• Driving growth online
Men’s
PacSun’s early lead on the jogger trend has helped propel sales in its men’s business, which reported a 10% increase in comp sales in the first quarter.
For the second quarter, men’s is on track to record a positive comp, Gary said, and he expects the momentum to continue heading into the third quarter.
Overall sales trends
The company said sales trends have improved in June and July across the business. However, the release said only men’s should record a positive comp in Q2.
Adjusted loss per share should be in line with the consensus analyst estimate of 3 cents. That is on lower end of the range PacSun previously provided of a net loss per share between 8 cents and 2 cents.
Currently, PacSun operates 618 stores across the country.
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