ANAHEIM, Calif., July 10, 2008 (PRIME NEWSWIRE) -- Pacific Sunwear of California, Inc. (Nasdaq:PSUN) (the "Company") announced today that its Board of Directors has authorized the Company to repurchase up to an additional $50.0 million of its common stock in the open market from time to time. During fiscal 2008, the Company completed its previous stock repurchase authorization, having repurchased 5,023,910 shares at an average price of $10.05 per share, for approximately $50.5 million.
As of July 5, 2008, there were 66,038,729 shares of Pacific Sunwear of California, Inc. common stock outstanding.
About Pacific Sunwear of California, Inc.
Pacific Sunwear is a leading lifestyle specialty retailer rooted in the youth culture and fashion vibe of Southern California. The Company sells casual apparel with a limited selection of accessories and footwear designed to meet the needs of teens and young adults. As of July 5, 2008, the Company operated 816 PacSun stores and 122 PacSun Outlet stores for a total of 938 stores in 50 states and Puerto Rico. PacSun's website address is www.pacsun.com.
The Pacific Sunwear of California logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=2087