{"id":1448,"date":"2008-08-22T08:07:49","date_gmt":"2008-08-22T15:07:49","guid":{"rendered":"http:\/\/www.boardistan.com\/?p=1448"},"modified":"2008-08-22T08:07:59","modified_gmt":"2008-08-22T15:07:59","slug":"pacsun-gets-the-downgrade","status":"publish","type":"post","link":"http:\/\/www.boardistan.com\/?p=1448","title":{"rendered":"PacSun Gets The Downgrade"},"content":{"rendered":"<p><a href=\"http:\/\/www.boardistan.com\/wp-content\/uploads\/2008\/08\/pacsun.jpg\" onclick=\"window.open('http:\/\/www.boardistan.com\/wp-content\/uploads\/2008\/08\/pacsun.jpg','popup','width=146,height=69,scrollbars=no,resizable=yes,toolbar=no,directories=no,location=no,menubar=no,status=yes,left=0,top=0');return false\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.boardistan.com\/wp-content\/uploads\/2008\/08\/pacsun-tm.jpg\" height=\"47\" width=\"100\" border=\"1\" align=\"right\" hspace=\"4\" vspace=\"4\" alt=\"Pacsun\" \/><\/a><strong><a href=\"http:\/\/www.pacsun.com\/\" target=\"_blank\">PacSun<\/a><\/strong> shares opened down this morning after the company announced yesterday a &#8220;weak outlook that resulted in a series of investment downgrades,&#8221; according to <strong><a href=\"http:\/\/www.forbes.com\/feeds\/ap\/2008\/08\/22\/ap5349160.html\" target=\"_blank\">Forbes.com<\/a><\/strong>. Not surprising, it also pulled down shares of <strong><a href=\"http:\/\/www.volcom.com\/\" target=\"_blank\">Volcom<\/a><\/strong> down more than $2 by mid-morning.<\/p>\n<blockquote><p>Pacific Sunwear reported after the regular markets closed Thursday that it swung to a fiscal second-quarter loss from discontinued operations but offered downbeat profit projections for the third and fourth quarters amid a weakening economy. . . &#8220;The retail environment is extremely difficult and the primary root of (Pacific Sunwear&#8217;s) poor performance,&#8221; <strong>Mitch Kummetz<\/strong>, an analyst at <strong>Robert W. Baird &#38; Co.<\/strong>, wrote in a note released early Friday. &#8220;However, given the company&#8217;s revised back-half outlook, its strategy of refreshing stores and refining its merchandise mix isn&#8217;t making enough of a difference to warrant an Outperform rating anymore.&#8221;<\/p><\/blockquote>\n<p>We thinking we prefer the <strong>Zumiez<\/strong> strategy.<\/p>\n<p><strong>[Link: <\/strong><strong><a href=\"http:\/\/www.forbes.com\/feeds\/ap\/2008\/08\/22\/ap5349160.html\" target=\"_blank\">Forbes.com<\/a><\/strong><strong>]<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PacSun shares opened down this morning after the company announced yesterday a &#8220;weak outlook that resulted in a series of investment downgrades,&#8221; according to Forbes.com. Not surprising, it also pulled down shares of Volcom down more than $2 by mid-morning. Pacific Sunwear reported after the regular markets closed Thursday that it swung to a fiscal [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[10,16,12],"tags":[],"_links":{"self":[{"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts\/1448"}],"collection":[{"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1448"}],"version-history":[{"count":0,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts\/1448\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1448"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1448"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1448"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}