PSUN A new breakout at $30+! Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : PSUN A new breakout at $30+!

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: E. Graphs who wrote (678)	11/30/1998 5:09:00 PM
From: E. Graphs	Read Replies (1) of 1622

Pacific Sunwear Announces 1 Million Share Stock Repurchase Program biz.yahoo.com >>....Weaver said: ''The stock repurchase program reflects the board of director's opinion that the current share price of Pacific Sunwear of California Inc. is undervalued. It also reflects the company's strong balance sheet and earnings performance over the past three years. This is an excellent use of our cash and does not impair or jeopardize our plans to add 108 new stores in 1999. We expect to incur no debt as a result of the stock repurchase program.'' << And, here's the story on sales: biz.yahoo.com >>Greg Weaver, chairman and chief executive officer said: ''In November we were up against strong same store comparisons of 15 percent and 9 percent in November 1997 and November 1996 but we were disappointed with November's 1.6 percent decline. Over the 36 months ended Oct. 31, 1998, we posted consecutive monthly same store sales increases which resulted in a greater than 40 percent increase in same store sales growth over that period and pushed average store sales above $1 million. November was affected by a same store sales decrease in Young Men's apparel, particularly in Young Men's wide leg pant sales. >>''We expect our Young Men's apparel business, which represents approximately 60 percent of total sales, may continue to be adversely affected for several more months after which pants seasonally decrease in importance. We are refocusing our Spring. (February and March 1999) pant assortments to include cleaner looks and narrower leg openings. Our junior and accessory businesses continued to experience strong same store sales growth during November. >>''We remain committed to our growth plans and have recently decided to add eight additional outlet stores in 1999 to the previously announced 100 new stores in 1999. This store growth represents a 39 percent increase in store square footage. The 108 stores includes 16 outlet stores, 25 d.e.m.o. stores and 67 Pacific Sunwear stores.'' >>Sales for the first 10 months of fiscal 1998 were $250.3 million, an increase of 46 percent over sales of $171.9 million for the same period of fiscal 1997. Same store sales increased 10 percent for the first 10 months of fiscal 1998.<<

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next