Weaver to Retire From Pac Sun
Greg Weaver, the 52-year-old chairman of Pacific Sunwear of California, Inc., announced he will retire on April 1. He helped transform the surf and skate retailer into a national powerhouse with 1,107 stores bearing the nameplates of Pacific Sunwear, d.e.m.o. and One Thousand Steps. The last store concept will debut as he departs the company he served for 19-years.
Weaver was named chief executive of the Anaheim, Calif.-based retailer in 1996. He often took bold steps and shrewd gambles to boost his company’s business.
In 2001, when the company saw its same store sales decline 2.5 for the first time under his tenure, Weaver decided to focus aggressively on sales of girls’ accessories and apparel in a business that once was only for boys.
The new focus worked, and same store sales skyrocketed 80 percent in 2002. Now women’s apparel makes up more than 48 percent of Pacific Sunwear’s merchandise. Weaver left the retailer’s chief executive position in April 2005. The position was filled by current chief executive Seth Johnson.
Jeffrey Van Sinderen, a retail analyst for Los Angeles-based B. Riley & Co. said Weaver was one of the best executives on the retail scene. “He fully developed Pac Sun’s business,” Van Sinderen said. Pacific Sunwear did not respond to questions on Weaver’s plans after Pacific Sunwear. —Andrew Asch
