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Pacific Sunwear same-store sales decline

08
Oct '08
Pacific Sunwear of California Inc reported that total PacSun sales for the five weeks of fiscal September ended October 4, 2008 were $91.2 million, a decrease of four percent from total PacSun sales of $95.1 million during the same period last year.

PacSun same-store sales decreased five percent during the same period. Total PacSun sales for the first nine weeks of the fiscal third quarter of 2008 were $254.3 million, a decrease of four percent from total PacSun sales of $265.1 million during the same period last year. PacSun same store sales decreased six percent during the same period.

Total PacSun sales for the first 35 weeks of fiscal 2008 were $833.9 million, a decrease of one percent versus total PacSun sales of $845.0 million during the same period last year. PacSun same store sales decreased two percent during the same period.

During September, the Company experienced significant further sales deterioration in California, Florida and the Desert Southwest regions, which comprise approximately 24 percent of the Company's total store base. Collectively, same-store sales in these regions were down 21 percent for the month.

In addition, the Company experienced a same-store sales decline of 18 percent in both the Pacific Northwest and Rocky Mountain/Great Plains regions. As a result of increased markdown activity, the Company now expects fiscal 2008 third quarter earnings to be at the low end of its previously announced earnings guidance range of $0.00 to $0.05 per diluted share.

Pacific Sunwear of California Inc


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