Pacific Sunwear Picks Exec to Steer Growth

Pacific Sunwear of California Inc. said Tuesday that it named a new chief operating officer to help carry out aggressive expansion plans.

Mark Hoffman, 50, will fill a position at the big Anaheim youth-apparel retailer that has been vacant since Greg Weaver was promoted to chief executive in 1996.

“With our growth plans going forward, we really felt we needed to fill the position,” said Carl Womack, chief financial officer. “We’re opening 108 new stores in 1999, which will bring us to 450 stores in 47 states. Our plans are to open another 125 stores in the year 2000. That’s a heck of a lot of growth.”

Hoffman had been president and chief operating officer of a division of Florida-based Claire’s Stores Inc., which operates about 2,100 jewelry and accessories stores in shopping centers in 50 states and a half-dozen countries.

Claire’s announced in January that Hoffman was “no longer with the company,” a move that surprised analysts because the company’s business was thriving.

Some surmised that Hoffman left because of a personality clash with Rowland Schaefer, Claire’s octogenarian chairman, chief executive and largest shareholder. The company’s shares fell 12% the day Hoffman’s departure was disclosed.

Pacific Sunwear’s Womack declined Tuesday to discuss the reasons behind Hoffman’s departure from Claire’s.

Before Claire’s, Hoffman served as president and chief executive of Accessory Place from 1991 to 1994, executive vice president and managing director of Country Road Australia-US from 1988 to 1990 and executive vice president of finance and operations at Ann Taylor from 1984 to 1988.

Pacific Sunwear shares fell $2, or 5.3%, to $35.38, in Nasdaq trading Tuesday.