Friday, June 8, 2018

Eddie Bauer and Pacific Sunwear combined under new umbrella

Chain Store Age
Golden Gate Capital has established a new operating company for two of its portfolio companies that it acquired out of bankruptcy.

The new PSEB Group is composed of Eddie Bauer and Pacific Sunwear of California, both of which will maintain their distinct brand opportunities. It will have a retail footprint of more than 700 stores and is on track for approximately $1.5 billion in combined total sales in 2018, including $400 million in ecommerce sales. Although earlier reports suggested that Golden Gate might merge the companies in an effort to consolidate stores, there was no talk of store closings in the announcement.. . . more