New York, NY -- (ReleaseWire) -- 05/02/2013 --Michael Zimmerman and Prentice Capital Management LP have disclosed taking a position of 5,173,656 shares or 7.61% ownership of Pacific Sunwear of California Inc (PSUN).
Pacific Sunwear, also known as PacSun, is a U.S. based retail clothing brand rooted in the youth oriented culture and lifestyle of California. The company sells speciality good rooted in the action sports, fashion and music influences of the California - lifestyle apparel, footwear and accessories designed for teens and young adults. As of February 2, 2013, PacSun operates 644 stores in 50 states and Puerto Rico.
Zimmerman has recently commented on his views that US consumer retail growth will likely continue to perform well in the year ahead. His pattern of investing as revealed through SEC disclosures has shown he favors stocks with strong brands and well conceived mobile and online commerce strategies. Zimmerman believes online shopping growth will accelerate as pinched consumers turn to their mobile devices seeking ways to maintain lifestyle choices at lower cost.
About Michael Zimmerman
Graduating as an Economist from Harvard University in 1992, Mr. Zimmerman, 42, founded Prentice Capital Management, LP, a New York-based private investment firm, in May 2005. Mr. Zimmerman serves as a director of Kid Brands, Inc., and dELia’s, Inc. and previously, he served as a director of The Wet Seal, Inc. He specializes in consumer and retail investments.
The Schedule 13D notice to the SEC regarding the purchase was filed on June 14, 2012 and can be viewed online here:
http://www.sec.gov/Archives/edgar/data/874841/000090571812000178/pacificsunwear13gjun12.htm
To learn more about Michael Zimmerman and Prentice, please visit:
http://www.forbes.com/profile/michael-zimmerman/
http://investing.businessweek.com/businessweek/research/stocks/people/person.asp?personId=26286193
Zimmerman's Prentice Capital Announces New Stake in PacSun