Casual apparel retailer Pacific Sunwear income up $377mn in Q3
11 Nov '05
3 min read
Surf & skate inspired apparel seller Pacific Sunwear of California Inc reported that net income for the third quarter of fiscal 2005 increased 20 percent to $40.5 million, compared to $33.7 million for the third quarter of fiscal 2004.
Total sales for the third quarter (13 weeks) ended October 29, 2005 were $377.5 million, an increase of 13.6 percent over total sales of $332.4 million for the third quarter (13 weeks) ended October 30, 2004.
Earnings per diluted share increased 23 percent to $0.54 compared to $0.44 per diluted share for the third quarter of fiscal 2004.
Same-store sales increased 4.6 percent for the comparable thirteen-week period ended October 29, 2005.
'He is very pleased with their performance in the third quarter,' commented Seth Johnson, Chief Executive Officer.
'Their 20 percent increase in net income reflects both an improving comp store sales trend and an increase in gross margin.
Although they must be cautious about the overall retail environment, He believe they are positioned to achieve strong results for the balance of the year.'
Net income for the first three quarters of fiscal 2005 increased 20 percent to $79.2 million, compared to $66.2 million for the first three quarters of fiscal 2004.
Earnings per diluted share increased 22 percent to $1.04 compared to $0.85 per diluted share for the first three quarters of fiscal 2004.
Total sales for the first three quarters (thirty-nine weeks) of fiscal 2005 were $966.5 million, an increase of 13.7 percent over total sales of $850.1 million for the same period of fiscal 2004.
marketing@alchempro.com
