• Linkdin
Maximize your media exposure with Fibre2Fashion's single PR package  |   Know More

PacSun faces difficult Q1 sales environment

22 May '09
2 min read

Pacific Sunwear of California Inc announced that net sales for the first quarter (13 weeks) of fiscal 2009 ended May 2, 2009, were $223.5 million versus net sales from continuing operations of $266.9 million for the first quarter (13 weeks) of fiscal 2008 ended May 3, 2008.

Total Company same-store sales decreased 18 percent during the period. The Company recorded a net loss of $8.7 million, or $(0.13) per diluted share, for the first quarter of fiscal 2009 compared to a net loss from continuing operations of $12.0 million, or $(0.17) per diluted share, for the first quarter of fiscal 2008.

"While we continue to face a very difficult sales environment, we are pleased with the results of our efforts to manage expenses and inventories. We ended the quarter with $32 million in cash and no credit facility borrowings," commented Sally Frame Kasaks, Chief Executive Officer. "We are cautious about business in future quarters but remain singularly focused on executing our strategies."

Financial Outlook for Second Fiscal Quarter of 2009
Assuming a same-store sales percentage decline in the range of 17 to 20 percent, the Company currently expects to report a loss of $(0.11) to $(0.17) per diluted share for the second quarter of fiscal 2009.

Pacific Sunwear of California Inc

Leave your Comments

Esteemed Clients

TÜYAP IHTISAS FUARLARI A.S.
Tradewind International Servicing
Thermore (Far East) Ltd.
The LYCRA Company Singapore  Pte. Ltd
Thai Trade Center
Thai Acrylic Fibre Company Limited
TEXVALLEY MARKET LIMITED
TESTEX AG, Swiss Textile Testing Institute
Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)
Taiwan Textile Federation (TTF)
SUZHOU TUE HI-TECH NONWOVEN MACHINERY CO.,LTD
Stahl Holdings B.V.,
Advanced Search