CFO of PacSun to Retire

Pacific Sunwear of California Inc. said Thursday that Chief Financial Officer Carl Womack, who has been with the company since before it went public, would retire later this year.

Womack, 52, said he was leaving to spend more time with his family and “pursue my personal interests.”

“It’s been a lot of fun,” he said of his tenure at Anaheim-based PacSun, which was founded in May 1986. “The year I started, the sales were $7 million.”

Last year, PacSun’s revenue pushed past $1 billion for the first time.

Womack plans to stay on until a successor is named to ensure a smooth transition.

“Carl has provided us with excellent financial leadership during critical periods of our development as a company, including our initial public offering in 1993 and subsequent periods of tremendous growth,” Chief Executive Greg Weaver said.

The retailer, which operates almost 900 stores, has been on a tear the last couple of years as young shoppers gravitate to its PacSun stores for surf and skate brands and to its d.e.m.o. chain for urban styles.

The trend continued last month. On Thursday the company reported that March same-store sales rose 12.4% compared with the prior year, besting the 9% increase expected by analysts. Sales at the namesake chain jumped 13.5%; d.e.m.o. sales rose 3.5%.

PacSun also boosted its forecast for the current quarter, saying it now expects to earn 16 cents a share, which would be a 60% increase over the same period last year.

PacSun’s shares fell $1.22 to $22.71 on Nasdaq. Shares have risen 55% in the last year.