Surf & skate inspired apparel seller Pacific Sunwear of California Inc (Pac Sun) reported that total sales for the five weeks of fiscal March ending April 1, 2006 were $116.8 million, a decrease of 2.9 percent over total sales of $120.3 million during the same period last year.
Total Company same store sales decreased 10.9 percent during the same period. By concept, PacSun same store sales decreased 11.9 percent and d.e.m.o. same store sales decreased 3.9 percent compared to the same five week period last year.
Total sales for the first nine weeks of fiscal 2006 were $205.8 million, an increase of 1.1 percent over total sales of $203.5 million during the same period last year. Total Company same store sales decreased 7.7 percent during the same period. By concept, PacSun same store sales decreased 8.8 percent and d.e.m.o. same store sales decreased 1.6 percent compared to the same nine week period last year.
After a challenging February and March the Company is adjusting its first quarter 2006 earnings guidance to $0.14 to $0.16 per diluted share. The Company remains comfortable with its fiscal 2006 annual guidance of 10 to 15 percent net income growth.
For more detailed information on March sales results, please call (714) 414-4210 to listen to a recorded commentary.
Pacific Sunwear, operating under two distinct retail concepts, is a leading specialty retailer of everyday casual apparel, accessories and footwear designed to meet the needs of active teens and young adults. As of April 1, 2006, the Company operated 815 PacSun stores, 96 PacSun Outlet stores and 198 d.e.m.o. stores for a total of 1,109 stores in 50 states and Puerto Rico. The Company intends to launch its third concept, One Thousand Steps, later in April of 2006.
marketing@alchempro.com
