Pacific Sunwear to Step Up Expansion

Pacific Sunwear of California Inc., riding high on its success with fashion-conscious teens, said it plans to step up its expansion. The Anaheim-based retailer of young men’s casual clothes said it will open 50 new stores this year and 60 more in 1998, bringing its total number of stores to about 320 by the end of next year. Last year, Pacific Sunwear said it planned to open 40 new stores in 1997. “Our company had a very strong 1996, and that success has spilled over into 1997,” said Greg Weaver, Pacific Sunwear’s president and chief executive. The company’s aggressive growth plan also includes boosting the size of 10 to 15 existing stores by half--to 3,000 square feet--in 1998. The extra space will accommodate Pacific Sunwear’s ongoing expansion into shoes and casual clothes for teenage girls. Analysts praised the moves, saying the company has found a winning formula in the teen market, and has been quick to fill the void left by chains that have closed or consolidated in recent years. Pacific Sunwear shares rose 87.5 cents to close at $29.375 on Nasdaq.