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“This show will educate, entertain and astonish.” Your ION Motor Sports Network friends along with ION Detroit and Press Passion will cover.

DETROIT–The North American International Auto Show 2012 (NAIAS) has expanded its footprint inside Cobo Center and its outreach into the social media sphere as it prepares to open for Press Preview, Jan. 9-10, 2012.

With an additional 25,000 square feet of main floor exhibit space, and the anticipated unveilings of dozens of the most exciting production and concept vehicles in the world, NAIAS 2012 is speeding towards two full days of press conferences. And, with an increased presence on social media sites like ION, Facebook and Twitter, the word is out wider than ever before.

“After 100 versions of the auto show floor plan, and dozens of meetings and conversations with manufacturers around the world, we are ready to accommodate the 40+ exhibitors displaying at NAIAS 2012. This show will educate, entertain and astonish,” said Bill Perkins, chairman, NAIAS 2012.

NAIAS exhibiting manufacturers include: Acura, AMG, Audi, Bentley, BMW, Buick, Cadillac, Chevrolet, Chrysler, CODA Automotive, Dodge, Falcon Motor Sports, Fiat, Ford, GMC, Honda, Hyundai, Infiniti, Jeep, Kia, Lexus, Lincoln, Maserati, Maybach, Mazda, Mercedes-Benz, Mini, Nissan, Porsche, Ram, Scion, Shelby American, Smart, SRT, Subaru, Tesla, Toyota, Vehicle Production Group, Volkswagen, and Volvo.

Press Preview, Jan. 9-10, 2012

More than 5,000 journalists from 50+ countries are expected to attend Press Preview at NAIAS 2012 and witness the worldwide unveiling of nearly 40 never before seen products, as well as a number of North American introductions. Register here.

Industry Preview, Jan. 11-12, 2012

Each year some 20,000 professionals representing nearly 2,000 companies from around the world attend NAIAS Industry Preview to compare, analyze, and benchmark cars and trucks. ION Television and the Detroit Auto Dealers Association serve as Industry Preview sponsors.

Charity Preview, Jan. 13, 2012

Charity Preview is a significant night of giving to children’s charities in the area. The event has raised more than $84 million since it was established in 1976, over $33 million of which was raised in the last seven years alone. Purchase tickets on-line at charitypreview.com. Charter One, part of the RBS group, is Presenting Sponsor of Charity Preview.

Public Show, Jan. 14-22, 2012

With more than 500 new cars and trucks displayed, families and those who simply appreciate fine automobiles can “shop” in a no-pressure, yet entertaining and educational environment.

NAIAS Premier Sponsors

More than 50 companies from the auto supplier, retail and media industries affiliate with NAIAS. Premier Sponsors, the highest level of NAIAS sponsorship, includes: Delta Airlines, DENSO, Johnson Controls, KPMG, Michigan Economic Development Corporation, Michelin and ZF. Official Sponsors include: AutoTrader.com, MSN Autos, Schaeffler Group and Panasonic Automotive. Several sponsors will be holding press conferences during the two-day press preview.

About the North American International Auto Show

Entering its 24th year as an international event, the NAIAS is among the most prestigious auto shows in the world, providing unparalleled access to the automotive products, people and ideas that matter most - up close and in one place. One of the largest media events in North America, the NAIAS is the only auto show in the United States to earn an annual distinguished sanction of the Organisation Internationale des Constructeurs d’Automobiles, the Paris-based alliance of automotive trade associations and manufacturers from around the world.

NAIAS 2012 Dates
Press Preview: Mon-Tue, Jan. 9-10, 2012
Industry Preview: Wed-Thu, Jan. 11-12, 2012
Charity Preview: Fri, Jan. 13, 2012
Public Show: Sat-Sun, Jan. 14-22, 2012

Agreement Marks the Brand’s First Outfitter Relationship with a Big Ten Athletic Program

Baltimore, MD | December 17, 2011

Northwestern University and Under Armour, Inc. today announced a new multiyear partnership that designates Under Armour as the official outfitter of the university’s athletic program. The partnership represents Under Armour’s first outfitter agreement with an athletic program that competes in the Big Ten Conference.

Under Armour, the leader in performance apparel, footwear and accessories, will outfit all of Northwestern’s 19 men’s and women’s varsity athletic teams beginning in the 2012-13 season. The comprehensive partnership also includes marketing and promotional rights.
“Under Armour highly values our new partnership with this prestigious institution and we look forward to working with Northwestern University to advance their distinguished athletic tradition,” said Kevin Plank, Founder and CEO of Under Armour.

“We’re proud to mark our first Big Ten Conference partnership with a program built on strong values,” said Matt Mirchin, Senior Vice President of Global Sports Marketing, Under Armour. “With a passionate fan base and a commitment to winning, Northwestern University is an ideal partner for the brand.”

“We’re thrilled about our new partnership with Under Armour,” said Jim Phillips, Northwestern’s Director of Athletics and Recreation. “It’s a marriage of two world-renowned brands that will greatly benefit our student-athletes and our programs as they compete to win Big Ten and national championships. Under Armour apparel, footwear and equipment offers our teams the best innovations and latest technologies to ensure we have a competitive advantage on the field of play.”

Under Armour’s first partnership with an athletic program in the distinguished Big Ten Conference extends the brand’s commitment to growing its on-field presence and showcasing its products at the highest levels of athletic competition. The brand currently outfits Division I varsity collegiate sports teams in the SEC, ACC, Big East, Pac 12 and the Big 12.

Ann Coulter is Spiked by U.S. Beach Volleyball Gold Medalist Kent Steffes Over Remarks Made by Newt Gingrich

Los Angeles, Calif | December 15, 2011

U.S. Olympic gold medalist Kent Steffes has fired a volley back at columnist Ann Coulter for her comments about beach volleyball in a recent article lambasting Republican presidential contender Newt Gingrich.

On her blog post Wednesday, Coulter blasted the former Speaker of the House for his remarks during the 1996 Republican National Convention. “Gingrich was forced into a minor speaking role at the convention, which he used to promote … beach volleyball.

“That’s right, Republicans were trying to defeat Clinton and Newt was talking about beach volleyball, which is apparently the essence of freedom — as well as evidence of Newt’s cuddly side!”

Coulter was making reference to Gingrich’s introduction of Steffes when he said, “A mere 40 years ago, beach volleyball was just beginning. No bureaucrat would have invented it, and that’s what freedom is all about.”

A beach volleyball Hall-of-Famer, Steffes was the most successful player in the ’90s and received an MBA from Stanford University. Featured in People Magazine during his heyday, he referenced Newt Gingrich, which started their relationship. Today, Steffes is a successful entrepreneur and business consultant who feels Coulter’s remarks were ill informed and reflected poorly on the popularity of the sport that has been exported around the world.

“Beach volleyball is freedom,” Steffes added. “Beach volleyball is very much an American tradition with a storied history. I am proud to have been a part of it and to have represented my country. If Ann wants to debate the merits of freedom then I will be happy to have that debate. I have faced tougher opponents in my lifetime and would be happy to educate her and the rest of the country on a true American innovation.

“I have always found Newt to be bold and forward thinking,” Steffes said. “Any politician who in 1996 could foresee how huge international beach volleyball would become and the contribution American athletes would make to the sport, demands our respect and consideration,” Steffes said.

Steffes won the sport’s first Olympic gold medal in 1996, with partner Karch Kiraly. Beach volleyball was voted the best new sport at the Atlanta Games. It has grown exponentially over the years and is one of the most popular competitions at the Summer Games.

It is a sport that the Americans dominate with the U.S. having won three of four possible volleyball gold medals at the 2008 Beijing Games. At the upcoming London Games, the beach volleyball team of Misty May-Treanor and Kerri Walsh will be going for a third straight gold medal. If they succeed it will make them two of the most decorated U.S. Olympians of all time.

Robert Griffin III of Baylor University was selected as the 77th winner of the Heisman Memorial Trophy as the Most Outstanding College Football Player in the United States for 2011.

Ball, Griffin, Luck, Mathieu and Richardson Named 2011 Heisman Finalists

New York, New York - On behalf of the Heisman Trophy Trust, 1995 Heisman Trophy Winner Eddie George announced this evening the finalists for the 77th Annual Heisman Memorial Trophy on ESPN’s 6pm EST edition of SportsCenter. The five finalists for this year’s award are University of Wisconsin running back Montee Ball, Baylor University quarterback Robert Griffin III, Stanford University quarterback Andrew Luck, Louisiana State University cornerback Tyrann Mathieu, and University of Alabama running back Trent Richardson.

All five finalists will be invited to New York for the live Heisman Trophy announcement this Saturday, December 10, which will air at 8pm EST presented by Nissan North America.

For the fourth straight year, two Heisman finalists will face each other in the BCS National Championship Game as Tyrann Mathieu will go up against Trent Richardson on January 9, 2012.

Montee Ball is leading the nation with 1,759 rushing yards as well as 32 rushing touchdowns for Wisconsin. He holds second place all-time at UW with 60 career touchdowns and 54 career rushing touchdowns. He has the opportunity to join two other Badgers in this elite fraternity: Ron Dayne (1999) and Alan Ameche (1954).

Robert Griffin III has the opportunity to be the first player from Baylor to receive The Heisman Memorial Trophy. The junior quarterback is ranked second in the nation in total offense with 387 yards per game. This season he threw 36 touchdowns and passed for 3,998 yards. Griffin and former Heisman Trophy winner Tim Tebow are two of four players in major college history with at least 9,000 yards passing and 2,000 yards rushing in a career.

Andrew Luck is looking to be the second Cardinal to take home The Heisman Trophy after Jim Plunkett won in 1970. The red-shirt junior passed for 3,170 yards and 35 touchdowns this season. Luck leads the Pac-12 in passing efficiency with 167.5 and broke Stanford’s records for career touchdown passes and single-season touchdown passes. While leading the Cardinals to an 11-1 record, he rushed for 153 yards and scored 2 touchdowns.

Tyrann Mathieu is looking to be the second LSU Tiger to win The Heisman Memorial Trophy after Billy Cannon won in 1959. The sophomore had 71 tackles, 5 forced fumbles and 2 interceptions this year. He also gained 420 yards and 2 touchdowns in punt returns during LSU’s 13-0 season. If Mathieu wins, he will be the second cornerback to be inducted into this group of outstanding college football players joining Charles Woodson (1997).

Trent Richardson rushed for 1,583 yards and had 20 touchdowns this season for Alabama. In nine of his twelve games, the running back rushed for over 100 yards for the 11-1 Crimson Tide. If awarded the Heisman, Richardson will only be the second player from Alabama to receive the trophy after 2009 winner, Mark Ingram, Jr.

“Prevailing out of one of the deepest and most highly contested fields in recent history, we would like to congratulate this year’s Heisman finalists for their outstanding season,” said Robert Whalen, Executive Director of the Heisman Trophy Trust.

The Heisman Trophy is given to the most outstanding college football player in the United States. The voters include 870 media representatives from six regions across the country, every living Heisman winner, and one overall fan vote through a partnership with Nissan North America.

Winners to Be Announced February 9, 2012 at The Grove in Anaheim, Calif. -

ALISO VIEJO, Calif. (November 15, 2011) -The Surf Industry Manufacturers Association (SIMA) is proud to announce the nominees for the SIMA Image Awards, which will honor the best of the surf industry from 2011. In its ninth year, the SIMA Image Awards is the only awards program that gives the surf industry the opportunity to recognize fellow surf industry companies for their outstanding contributions to the industry.

“On behalf of the SIMA Board of Directors, I would like to congratulate all of the SIMA Image Awards nominees for moving our industry forward over the past year,” said Doug Palladini, SIMA President and VP of Marketing for Vans. “The Image Awards is all about shining a bright light on surf industry progression and innovation, and it’s gratifying to see so many brands rise to the occasion. We look forward to seeing the entire industry gather to honor the winners in February.”

The winners will be announced at the SIMA Image Awards ceremony on February 9, 2012, at The Grove in Anaheim, Calif.

The goal of the SIMA Image Awards is to identify the surf industry’s most influential companies and recognize them for their efforts to advance and grow the industry over the past year. In an effort to continue to honor the most innovative products and advancements in the industry, a new category has been added to the SIMA Image Awards lineup: the Hardgoods Accessory Product of the Year award. Providing yet another opportunity for member recognition, the new award will highlight the more technical innovations coming out of the sport by featuring products such as fins, leashes, bags, wetsuit accessories (heat vests, boots, etc.) and other hardgood accessories. This year, companies will be recognized in the following 16 categories:

SIMA IMAGE AWARDS NOMINEES

OVERALL AWARDS

Breakthrough Brand of the Year

Criteria: Recognizing the small- to mid-size men’s or women’s brand that experienced breakthrough growth between January 1 and September 1, 2011. Consider surfboard, apparel, footwear, wetsuit and accessory brands that had a breakthrough year through product development and/or increased brand recognition and appeal. Nominated companies can be new or established brands, but must have annual U.S. sales of at least $1 million and no more than $20 million. (Previous winners of this category are no longer eligible for five years.)

Analog Clothing
Firewire
Futures
Quiksilver for Girls
Stance

Breakthrough Retailer of the Year

Criteria: Recognizing the specialty retailer with 15 U.S. brick and mortar doors or less that experienced success in 2011, between January 1 and September 1. Consider the specialty retailer that had a breakthrough year in terms of sales and increased store recognition and appeal. (Previous winners of this category are no longer eligible for five years.)

Bird Rock, La Jolla
Hanger 94, San Diego
Maui Nix, Ft. Lauderdale
Surf Diva Boutique, La Jolla

MEN’S AWARDS

Men’s Apparel Brand of the Year

Criteria: Awarded to the men’s apparel brand that featured the most exciting designs, increased its brand appeal, and grew its business between January 1 and September 1, 2011.

Billabong
Hurley
Quiksilver
RVCA
Volcom

Men’s Boardshort of the Year

Criteria: Awarded to the boardshort product from Spring or Fall 2011 product lines (at retail between January 1 and September 1, 2011) that featured the most exciting design, appeal or innovation.

Bruce Annihilator by Volcom
Cypher Alpha by Quiksilver
MIRAGE by Rip Curl
Phantom 4D by Hurley
Platinum X Recycler Series by Billabong

Men’s Marketing Campaign of the Year

Criteria: Awarded to the men’s apparel, footwear, wetsuit, hardgoods, accessory or media brand that produced the most creative marketing campaign in 2011. Consider men’s brands that displayed a creative, cohesive and consistent brand message in print, digital and point-of-purchase materials. Campaign must have first appeared in consumer print publications with an on-sale date between January 1 and September 1, 2011 (approx. the September or October issues of endemic magazines.)

“Collection Campaigns” by Nixon
“Destroys Boredom” by Volcom
“I Surf Because…” by Billabong
“Kelly Slater 10x World Title” by Quiksilver
“True Innovation” by Hurley

Men’s Retailer of the Year

Criteria: Awarded to the specialty retailer that featured the best selection, product mix and merchandising in the men’s category between January 1 and September 1, 2011.

Brave New World, New Jersey
Huntington Surf & Sport, Huntington Beach
Quiet Flight, Cocoa Beach/Orlando
Surfride, San Diego
Surfside Sports, Costa Mesa

WOMEN’S AWARDS

Women’s Apparel Brand of the Year

Criteria: Awarded to the women’s apparel brand that featured the most exciting designs, increased its brand appeal, and grew its business between January 1 and September 1, 2011.

Billabong
Insight
O’Neill
Roxy
Volcom

Women’s Marketing Campaign of the Year

Criteria: Awarded to the women’s apparel, swimwear, footwear, wetsuit, hardgoods, accessory and media brand that produced the most creative marketing campaign in 2011. Consider women’s brands that displayed a creative, cohesive and consistent brand message in print, digital and point-of-purchase materials. Campaign must have first appeared in consumer print publications with an on-sale date between January 1 and September 1, 2011 (approx. the September and October issues of endemic magazines.)

“Beach You To It” by Roxy
“Create Your Mark” by Vans
“New Wave” by Billabon
“Untitled” by Insight
“Volcom Brand Jeans” by Volcom

Women’s Swim Brand of the Year

Criteria: Awarded to the women’s swim brand that featured the most exciting designs, increased its brand appeal, and grew its business between January 1 and September 1, 2011.

Billabong
L*Space by Monica Wise
Roxy
TAVIK
Volcom

Women’s Retailer of the Year

Criteria: Awarded to the specialty retailer that featured the best selection, product mix and merchandising in the women’s category between January 1 and September 1, 2011.

Hanger 94, San Diego
Huntington Surf & Sport, Huntington Beach
Jack’s Surfboards, Orange County
Surf Diva Boutique, La Jolla
Surfside Sports, Costa Mesa

PRODUCT AWARDS

Accessory Product of the Year

Criteria: Awarded to the accessory product from Spring or Fall 2011 product lines (at retail between January 1 and September 1, 2011) that featured the most exciting innovation, design or appeal. Accessory products such as watches, eyewear, headphones, socks and other accessories can be considered.

The FIX by Skullcandy
Knoxville by Electric Visual
Sun Care by Sun Bum
The TPS by Nixon
Volcom X Krochet Kids Collab Beanie by Volcom

Environmental Product of the Year

Criteria: Awarded to the most exciting, appealing and/or innovative environmental surf product from Spring or Fall 2011 product lines (at retail between January 1 and September 1, 2011). Consider apparel, footwear, accessory, wetsuit, surfboard or any other surf-related product that was created to lessen the impact on the environment, whether through its manufacturing process, materials or usage of the product itself.

Green Flex by FCS
Recycled Boardshort Series by Billabong
RG8 (Re-Generate) Recycled Series by O’Neill Wetsuits
Shift Into Neutral Collection by VonZipper
V.Co-Logical Fall 2011 Dress by Volcom

Footwear Product of the Year

Criteria: Awarded to the footwear product from Spring or Fall 2011 product lines (at retail between January 1 and September 1, 2011) that featured the most exciting design, appeal or innovation.

Cruisers by Roxy
Evolution Series by Kustom Footwear
Jimbo Phillips V.Co-Lab Vocation Creedlers by Volcom
Mea Ola by OluKai
Surfsider by Vans

Hardgoods Accessory Product of the Year (new category)

Criteria: Awarded to the surf hardgood accessory product from Spring or Fall 2011 product lines (at retail between January 1 and September 1, 2011) that featured the most exciting innovation, design or appeal. Accessory products such as fins, leashes, bags, wetsuit accessories (heat vests, boots, etc.) and other hardgood accessories can be considered.

Cypher PS+ Heat Vest System by Quiksilver
DNA Flex Mold Leash by Creatures of Leisure
Drylock TS Boot by Xcel
H-Bomb Heated Vest by Rip Curl
Techflex by Futures

Surfboard of the Year

Criteria: Awarded to the surfboard model from Spring or Fall 2011 product lines (at retail between January 1 and September 1, 2011) that featured the most exciting design, appeal or innovation.

Fred Rubble by Channel Islands Surfboards
Sub-Scorcher by …Lost Surboards
Sweet Potato by Firewire
Slayer by Rusty Surfboards

Wetsuit of the Year

Criteria: Awarded to the wetsuit from Spring or Fall 2011 product lines (at retail between January 1 and September 1, 2011) that featured the most exciting design, appeal or innovation.

Cypher Fuseflex by Quiksilver
Drylock by Xcel
FLASHBOMB by Rip Curl
Psycho by O’Neill Wetsuits
Solution Xero by Billabong

All regular and board builder SIMA members were given the opportunity to enter their own brands or products, and retailers, in any qualifying categories. These entries were then reviewed and voted upon by an industry panel of experts comprised of both manufacturers and retailers. The outcome of the panel vote determined the five nominees in each category. Winners will be determined by a final vote open to all SIMA member companies, as well as specialty retailers. The main contact at each SIMA member company can expect information via email for final voting this week.

More information about the ceremony and how to access tickets will be available in the coming months. SIMA member brands and industry retail partners are encouraged to save the date, rally their teams and bring their cheering sections to what will be an exciting evening honoring excellence and innovation in the surf industry.

A complete description of awards criteria, as well as a detailed explanation of the entry and voting processes can be found at www.simaimageawards.com.

The Surf Industry Manufacturers Association (SIMA) is the official working trade association of more than 300 surf industry suppliers. Founded in 1989, SIMA is a non-profit organization that serves to promote awareness of the surf industry and participation in the sport of surfing through public relations efforts and a variety of services, educational programs and research. In addition, SIMA actively supports oceanic environmental efforts through its 501(c)(3) charitable environmental foundation, the SIMA Environmental Fund. In the past 22 years, SIMA’s Environmental Fund has raised more than $5.8 million for environmental groups seeking to protect the world’s oceans, beaches and waves. The SIMA Humanitarian Fund, also a 501(c)(3) charitable foundation, was established to award grants to various surf or boardsport related social and humanitarian non-profit organizations whose efforts are focused on improving the quality of life, health and/or welfare of people. Liquid Nation Ball serves as the annual fundraising event for the SIMA Humanitarian Fund, and since 2004 has raised and donated more than $1.58 million to surf-related non-profit humanitarian organizations.

ANAHEIM, Calif., Dec. 7, 2011 (GLOBE NEWSWIRE) — Pacific Sunwear of California, Inc. (Nasdaq:PSUN - News) announced today the completion of extensive negotiations with landlords that will result in the closure of approximately 175-200 underperforming stores within the next 14 months.

The Company also announced the completion of a five-year, $100 million revolving credit facility with Wells Fargo Capital Finance and a five-year, $60 million senior secured term loan funded by Golden Gate Capital, a leading private equity firm with extensive experience in the retail sector.

“The combination of these transactions greatly enhances our financial and operating position, and is another critical step forward as we work to re-establish PacSun as a leading specialty retailer across the U.S.,” said Gary H. Schoenfeld, President and Chief Executive Officer.

“With the support from all of our major landlords, we can now focus on our targeted base of 550-600 better performing stores and our enhanced merchandising and marketing strategies for becoming the preferred destination among teens and young adults for great style and great brands.”

Real Estate Restructuring

The agreements reached with the Company’s landlords include the buyout of approximately 75 leases at a cost of approximately $13 million, short-term extensions for approximately 50 better performing stores, and termination upon lease expiration of approximately 115 stores by the end of fiscal 2012. A portion of the proceeds from the Golden Gate Capital senior secured term loan will be utilized to fund the lease buyout payments.

“For the prior twelve months through the end of the third quarter, the stores that we will be closing had average sales of $0.6 million and a same-store sales rate of -9%. Conversely, average sales for the remainder of our stores were approximately $1.1 million with a same-store sales rate of -1% which represents a much healthier base to move forward with,” Mr. Schoenfeld said.

New Financings

The Company entered into a new five year $100 million revolving credit facility with Wells Fargo Capital Finance, replacing the previous revolving credit facility which would have expired in April, 2013. The Wells Fargo credit facility is secured primarily by a first priority interest in inventory and other excess working capital, and bears interest at the rate of 150-200 basis points over LIBOR.

Golden Gate’s senior secured term loan is secured by a second lien on the Company’s inventory and receivables, and a first lien in the Company’s remaining assets. In addition to interest and fees payable on the loan, the Company issued convertible preferred stock to an affiliate of Golden Gate which gives it the right to purchase up to 19.9% of the Company’s common stock (16.7% on a fully-diluted basis) at an exercise price of $1.75, a 33% premium over the closing price of the Company’s common stock on December 6, 2011.

Golden Gate also received the right to appoint two members to PacSun’s Board of Directors. Joshua Olshansky, a Managing Director and head of Golden Gate’s retail group, and Neale Attenborough, Golden Gate’s retail group Operating Partner, were appointed to fill the two current vacancies on PacSun’s Board.

Golden Gate is one of the most active private equity investors in the retail and restaurants sector and has extensive experience working with brands in transition. Some of the firm’s portfolio companies include Express, J.Jill, Eddie Bauer, Zales and California Pizza Kitchen.

“Golden Gate’s deep retail experience, strong track record of working with great brands, and highly flexible investment approach make them an attractive partner for PacSun,” Mr. Schoenfeld said. “We look forward to working closely with them along with Wells Fargo which has been a banking partner for several years.”

Mr. Olshansky stated, “Taken in the aggregate, these actions will immediately strengthen the Company by improving its liquidity, profitability and the quality of its real estate portfolio. The initiatives announced today give the Company and its new management team time and significant additional resources to execute on and accelerate its turnaround plan.”

Financial Results for Third Fiscal Quarter of 2011

The Company also announced its results for the third quarter of fiscal 2011. Net sales for the third quarter of fiscal 2011 ended October 29, 2011, were $242.0 million versus net sales of $257.9 million for the third quarter of fiscal 2010 ended October 30, 2010. Total Company same-store sales decreased 3% during the period.

On a GAAP basis, including real estate buyout costs of $1.9 million and non-cash asset impairment charges of $4.4 million related to store closures, the Company reported a net loss of $17.6 million, or $(0.26) per share, compared to a net loss of $7.0 million, or $(0.11) per share, for the third quarter of fiscal 2010, which included non-cash asset impairment charges of $0.6 million related to store closures.

On a non-GAAP basis, excluding the aforementioned store closure charges, and using a normalized annual income tax rate of approximately 37%, the Company’s net loss for the third quarter would have been $7.1 million, or $(0.10) per share, as compared to a net loss of $3.9 million, or $(0.06) per share, for the same period a year ago.

“After a soft start to the back-to-school season in early August, our business improved in both men’s and women’s resulting in same-store sales and non-GAAP loss per share for Q’3 better than we had expected,” Mr. Schoenfeld said.

“Looking now to the fourth quarter, we were encouraged by double-digit positive comps on Black Friday and a particularly strong response to our new strategies for women’s holiday merchandising. Yet seasonal categories in both genders have started off slower than we would have expected resulting in quarter-to-date comp trends similar to the -3% we achieved in Q’3.”

Financial Outlook for Fourth Fiscal Quarter of 2011

The Company’s guidance range for the fourth quarter of fiscal 2011 includes certain one-time buyout charges related to store closures of $11 million and a GAAP net loss per share of $(0.44) to $(0.58), which reflects the continuing impact of maintaining a valuation allowance against deferred tax assets.

On a non-GAAP basis, excluding such one-time charges along with a normalized annual income tax rate of approximately 37%, the Company’s guidance range translates to a net loss of $(0.18) to $(0.27) per share for the fourth quarter of fiscal 2011.

The forecasted fourth quarter guidance range is based on the following assumptions:

Same-store sales of minus 3% to plus 2%;
Gross margin rate, including buying, distribution and occupancy, of 18% to 21%, on a GAAP basis;
SG&A expenses in the range of $81 million to $83 million; on a GAAP basis; and
On a non-GAAP basis and adjusted for store closure related charges, SG&A expenses in the range of $71 million to $73 million.

Shareholder Protection Rights Plan

Independent of Golden Gate’s investment, the Company also announced that its Board of Directors has adopted a Shareholder Protection Rights Plan and declared a dividend of one Right on each outstanding share of common stock of the Company.

The dividend will be paid to shareholders of record on December 12, 2011, upon certification by the Nasdaq Global Select Market to the SEC that the Rights have been approved for listing.

Additionally, if any person or group acquires between 15% and 50% of the Company’s common stock, the Board of Directors may, at its option, exchange one share of the Company’s common stock for each Right.

Under the Plan, among other things, a person or group which acquires 15% or more of the common stock of the Company will trigger the ability of the shareholders (other than the 15% holder) to exercise the Rights for an exercise price of $4.50 (subject to certain adjustments from time to time) and to purchase a number of shares of common stock with a market value of twice the exercise price of the Rights exercised.

Existing holders of 15% or more of the common stock are grandfathered under the Plan until such time as they acquire more than 0.1%, of the Company’s common stock than they had as of the date of the adoption of the Rights Plan. The Rights are redeemable at any time by the Company at $.01 per Right. The Plan expires in 2014.

Commenting on the Plan, Peter Starrett, PacSun’s Chairman, stated, “In light of current and potential additional significant ownership stakes in the Company’s stock and our ongoing efforts to implement a turnaround in the Company’s performance, the Board determined that it was in the best interests of shareholders to prevent a change in control of the Company without the payment of a control premium. The Plan is not intended to and would not preclude an acquisition of PacSun at a full and fair price.”

Additional information regarding the Shareholder Protection Rights Plan, the Company’s real estate restructuring efforts and the Wells Fargo and Golden Gate Capital transactions, can be found in the Company’s Current Report on Form 8-K which was filed today with the SEC. Guggenheim Securities, LLC was the Company’s financial advisor for its transaction with Golden Gate.

Mr. Schoenfeld concluded, “Like every other retailer we are eager to get into the peak holiday season that is now upon us. As we look beyond the end of this year, today’s announcements mark another important step forward in the turnaround of PacSun, and I appreciate the continued hard work and commitment of our entire organization.”

About Pacific Sunwear of California, Inc.

Pacific Sunwear of California, Inc. and its subsidiaries (collectively, “PacSun” or the “Company”) is a leading specialty retailer rooted in the action sports, fashion and music influences of the California lifestyle. The Company sells a combination of branded and proprietary casual apparel, accessories and footwear designed to appeal to teens and young adults. As of December 7, 2011, the Company operates 819 stores in all 50 states and Puerto Rico. PacSun’s website address is www.pacsun.com.

About Golden Gate Capital

Golden Gate Capital is a San Francisco-based private investment firm with approximately $12.5 billion of capital under management. The principals of Golden Gate have a long and successful history of investing across a wide range of industries and transaction types, including going-privates, corporate divestitures, and recapitalizations, as well as debt and public equity investments.

Golden Gate is one of the most active investors in leading brands in the retail and restaurant sectors. Representative investments include Express, Zales, Eddie Bauer, J.Jill, California Pizza Kitchen, Romano’s Macaroni Grill, and On the Border Mexican Grill.

New visual identity designed to aid the organization in accomplishing its goals of inspiring and recognizing the highest levels of achievement in football.

DALLAS, Dec. 2, 2011 - The National Football Foundation (NFF) unveiled a new logo today, taking another step in the organization’s efforts to remain in the forefront of the promotion of amateur football.

“Our mission centers on three things. To preserve the past; promote the present; and to prepare for the future,” said NFF President and CEO Steve Hatchell. “We have an obligation to the history of the game as well as its future. Hopefully, our new logo shows that we can be modern and still hold onto the history of the game.”

“The new logo is an important step for us,” said NFF Chairman Archie Manning. “We wanted to create something that would endure and resonate with fans across the country, and the creative team came up with an elegant design that reinforces the National Football Foundation’s image as the standard bearer of excellence for college football players on the field, in the classroom and as leaders in the community.”

The NFF outlined a process that would maintain a connection to the old logo and its laurel wreath. The laurel has stood for centuries as the ultimate symbol of success. Used in the ancient Olympic Games and in the Roman Senate, the laurel has been a natural fit for the NFF as it recognizes the highest levels of achievement in amateur football.

Dick Mitchell, a managing principal at RBMM, in explaining the project, “For us it is about trying to tell the story the best we can and in as small of space as you can imagine, so we tend to rely on things that will be timeless, clear and that will have an element of power attached to that clarity and simplicity.”

The old mark faced several issues. Among them, the punter in the center of the logo did not reproduce well unless it was duplicated in larger dimensions. Additionally, from a symbolic standpoint the focus on a specific player’s position, a punter, failed to incorporate the importance of the concept of teamwork to the sport. The new logo uses the ball, the central element of the game, as its symbol, placing the emphasis on the team rather than a specific position.

The team looked at a variety of colors, conscious of what has been done in the past while wanting to avoid any color relationship with a particular university, which might potentially alienate others. The metallic silver indicates a level of achievement and height, and the dark navy blue adds a level of sophistication to the mark while working well with the silver.

“Very cool and fresh, very classical for a world class organization,” stated ION Chief Executive Athlete and sports brand development expert Dave Behar. “A smart sports brand must not forget its heritage - even if only used in the future as part of the style guide moving forward. This was done effectively.”

International star soccer player Lionel Messi is the face of the upcoming FIFA Street video game on EA Sports, set to hit shelves in March.

In addition, the Barcelona and Argentina player signed a multiyear endorsement agreement to become an EA Sports ambassador and global spokesman for the game maker’s FIFA franchise.

Colorado Governor John Hickenlooper issued a proclamation Friday, August 26, 2011 as “Natural Medicine Awareness Day” to The Run, as the movement passed through Boulder on a 3,250 mile journey across America, leading the wellness mission all the way to Washington DC and New York City.

It’s not often a run inspires a proclamation from a State’s highest office. However, a movement is different. Well, that’s what a run across America spreading the benefits of Natural Medicine, has inspired in the State of Colorado.

Colorado Governor John Hickenlooper has issued a proclamation of today, Friday, August 26, 2011 as “Natural Medicine Awareness Day” to The Run, as the movement passes through Boulder on a 3,250 mile journey across America, and to the Godby family that is leading the wellness mission all the way to Washington DC and New York City.

Colorado, and in particular, the Boulder area, known as an epicenter of the natural and to some the birthplace of natural products and healthier living, the proclamation is very fitting, to be given at Alfalfa’s Market at 4:30 today in Boulder:

The Run is raising awareness about natural medicine by running across the country from San Francisco, California to Bridgeport, Connecticut, a total of 3,258 miles. The Run across the United States is designed to educate and empower Americans about natural health care options in preventing disease, finding and treating the cause of illness, and revitalizing the nation’s health.

The mission includes increasing an awareness of the health of the American people, providing information about sustainable and quality holistic health care options, and educating the public about healthy lifestyle management and health maintenance.

The State of Colorado welcomes The Run and its participants as they promote healthy living habits;

ABOUT THE RUN
The Run: Moving Natural Medicine Forward is an historic first-time in US history event where the first four runners will cross the US, 3,258 miles…on foot. Dr. Dennis Godby, ND (54 years old) and his two sons Isaiah (21 years old) and Jeremiah (17 years old) and his nephew Jonas Ely (21 years old) began their epic journey on July 17, 2011 from San Francisco, CA and will finish 120 days hence in Bridgeport, CT, with large national attention during stops in Washington DC and New York City. They completed 25% of their goal when they reached Boulder, CO on August 26th, 2011. The “First Four” reached New York City on 11.11.11, along with a symbolic leg to University of Bridgeport a few days later.

Their coast-to-coast Run is designed to highlight the pressing need to put health back in American health care and to raise awareness that there are practitioners willing and able to provide a more health centered type of care.

“It pains me to see so many people living below the threshold of vitality. The average American is getting sicker, more obese, and more depressed,” says Dr. Godby. Effective therapies are emerging from the fields of mind-body medicine, acupuncture, naturopathy, biofeedback and nutrition-based medicine to help those that conventional medicine may have failed or does not have much to offer. It’s important for the general public to know about these options.

Dr. Rebecca Asmar, The Run Executive Director, claims youth are most inspired by such an ambitious cross-country journey and that according to Dr. Asmar, the three boys are a gleaming example of those taking charge of their lives for a better, healthier tomorrow – and a symbol of boys and girls to aspire.

“We saw kids and school age girls literally lining up for their autographs in the first part of their journey, and clamoring for pictures to be taken with them, along with a bit of conversation,” observed Asmar.

“Dennis, Isaiah, Jeremiah, Jonas are today’s ‘runegades’,” said Dave Behar. Founder and Chief Executive Athlete of ION, one of The Run’s strategic supporters. “C’mon now – averaging over 30 miles a day?” A whole new definition of youth - from sea to shining sea…”