Pacific Sunwear Reports September Same Store Sales Increase 8.8 Percent
biz.yahoo.com
ANAHEIM, Calif.--(BUSINESS WIRE)--Oct. 7, 1999-->>Pacific Sunwear of California Inc. (Nasdaq:PSUN - news) Thursday reported sales of $41.3 million for the five week period ended Oct. 3, 1999, an increase of 37 percent over sales of $30.1 million for the comparable five week period ended Oct. 4, 1998.
Same store sales increased 8.8 percent for the period.
''We were pleased with September's sales results as we successfully anniversaried a 13 percent same store sales increase from September a year ago. Our Juniors (girls), accessory and footwear categories all achieved double digit same store sales gains during the month while our young men's business was comp positive.
''Our young men's pant business continued its improvement, was comp positive and the best it's been in nearly a year,'' stated Greg Weaver, chairman and chief executive officer.
''In September we opened 17 new stores and are on schedule to end 1999 with 450 stores in operation. We plan to continue our aggressive expansion in 2000 by opening 125 new stores, of which 70 will be Pacific Sunwear stores, 15 Pacific Sunwear Outlet stores and 40 d.e.m.o. stores.
''In 2000 we will again enlarge the prototype size of a Pacific Sunwear store to 3,500-4,000 square feet, the third such enlargement in the last four years. The additional square footage will accommodate more Juniors (girls) merchandise. We also plan to expand over 30 smaller stores in 2000 to the new, larger prototype.
''This growth equates to an approximate 35 percent increase in square footoage in the year 2000 and would have us ending the year with approximately 575 stores operating in all 50 states and Puerto Rico,'' concluded Weaver.
Total sales for the first eight months of fiscal 1999 were $279.7 million, an increase of 35 percent over sales of $207.2 million for the first eight months of fiscal 1998. Same store sales increased 6.9 percent for the first eight months of fiscal 1999.
Pacific Sunwear is a leading specialty retailer of everyday casual apparel, accessories and footwear designed to meet the needs of active teens and young adults. The company currently operates 376 Pacific Sunwear stores, 19 Pacific Sunwear outlet stores and 36 d.e.m.o. stores for a total of 431 stores in 47 states. Pacific Sunwear's Web site address is www.pacsun.com ....<< |
