Pacific Sunwear of California Inc fka PSUNQ

[trader1999]

The Company has historically financed its operations primarily from internally generated cash flow and with short- and long-term borrowings. In addition, the Company recently implemented an annual cost reduction program in the third quarter of fiscal 2015 which the Company believes will yield approximately $15 million of annual cost savings during fiscal 2016 (the “Cost Reduction Program”). The Cost Reduction Program is planned to be principally achieved through more streamlined in-store execution, reductions in selling, general and administrative expenses and capital expenditures, and through the restructuring of certain positions and departments at the corporate headquarters.

Based on current forecasts, the Company believes that its cash flows from operations, together with its working capital, cash reserves, availability under the Wells Credit Facility and expected benefits associated with the Cost Reduction Program, will be sufficient to fund the Company's operating and capital expenditure needs through December 7, 2016, the scheduled maturity date of the Term Loan and the Wells Credit Facility.

It does continue on about being dependent upon the Company's comparable store net sales, gross margins and operating results going forward.

It's all in the 10-Q here:

http://secfilings.nasdaq.com/filingFrameset.asp?FilingID=11050891&RcvdDate=12/8/2015&CoName=PACIFIC%20SUNWEAR%20OF%20CALIFORNIA%20INC&FormType=10-Q&View=html



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