ANAHEIM, Calif., Aug. 7, 2008 (PRIME NEWSWIRE) — Pacific Sunwear of California, Inc. (Nasdaq:PSUN) today reported that total PacSun sales for the four weeks of fiscal July ended August 2, 2008 were $99.1 million, a decrease of three percent from total PacSun sales of $102.4 million during the same period last year. PacSun same-store sales decreased four percent during the same period.
Total PacSun sales for the thirteen weeks of the second quarter of fiscal 2008 were $312.7 million, a slight increase versus PacSun sales of $311.8 million during the same period last year. PacSun same store sales decreased one percent during the same period.
Total PacSun sales for the first 26 weeks of fiscal 2008 were $579.6 million, a slight decrease from total PacSun sales of $579.9 million during the same period last year. PacSun same store sales decreased one percent during the same period.
The Company now expects to report earnings from continuing operations for the second quarter of fiscal 2008 in the range of $0.05 to $0.06 per diluted share.
The Company intends to report its fiscal 2008 second quarter results on August 21, 2008 after the close of regular stock market hours. A hosted conference call will follow at 4:30 p.m. EDT / 1:30 p.m. PDT.
For more detailed information on July sales results, please call (714) 414-4210 to listen to a recorded commentary.
About Pacific Sunwear of California, Inc.
Pacific Sunwear is a leading lifestyle specialty retailer rooted in the youth culture and fashion vibe of Southern California. The Company sells casual apparel with a limited selection of accessories and footwear designed to meet the needs of teens and young adults. As of August 2, 2008, the Company operated 815 PacSun stores and 123 PacSun Outlet stores for a total of 938 stores in 50 states and Puerto Rico. PacSun’s website address is www.pacsun.com.
The Pacific Sunwear of California logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=2087
Pacific Sunwear Safe Harbor
This press release contains “forward-looking statements,” including statements with respect to the Company’s expectation of fiscal 2008 second quarter earnings per share from continuing operations in the range of $0.05 to $0.06 per diluted share. In each case, these statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company intends that these forward-looking statements be subject to the safe harbors created thereby. These statements are subject to risks, uncertainties and other factors, including, among others, higher than estimated selling, general and administrative expenses for the quarter and uncertainties generally associated with apparel retailing. More information on factors that could affect the Company’s financial results is included in the Company’s Report on form 10-K for the year ended February 2, 2008 and subsequent periodic reports filed with the Securities and Exchange Commission.. We believe that all forward-looking statements are based on reasonable assumptions when made; however, we caution that it is impossible to predict actual results or outcomes or the effects of risks, uncertainties or other factors on anticipated results or outcomes. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company assumes no obligation to update or revise any such forward-looking statements to reflect events or circumstances that occur after such statements are made. Nonetheless, the Company reserves the right to make such updates from time to time by press release, periodic report or other method of public disclosure without the need for specific reference to this press release. No such update shall be deemed to indicate that other statements not addressed by such update remain correct or create an obligation to provide any other updates.
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August 07 2008 |
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