To: Duane L. Olson who wrote (443 ) 5/7/1998 10:07:00 AM From: E. Graphs Read Replies (1) | Respond to of 1622
PSUN! You're breaking my heart! YES! Sales UP 70%!! Same stores UP 24%!biz.yahoo.com Pacific Sunwear of California Inc. Reports April Sales Increase 70 Percent Same Store Sales Rise 24 Percent ANAHEIM, Calif.--(BUSINESS WIRE)--May 7, 1998--Pacific Sunwear of California Inc. (Nasdaq:PSUN - news) Thursday reported sales of $21.8 million for the four week period ended May 3, 1998, an increase of 70 percent over sales of $12.8 million for the comparable four week period ended May 4, 1997. Same store sales increased 24 percent for the period and marked 30 months of consecutive same store sales increases. Greg Weaver, chairman and chief executive officer, said: ''April was an outstanding month for Pacific Sunwear and was our third consecutive year of double digit same store sales increases in the first quarter. Sales were strong in all geographic regions with our young mens and junior businesses both contributing to these gains.'' Sales for the first thirteen weeks of fiscal 1998 (1st quarter) were $61.2 million, an increase of 57 percent over sales of $38.9 million for the same period of fiscal 1997. Same store sales increased 15 percent for the first 13 weeks of fiscal 1998. Pacific Sunwear is a leading mall-based specialty retailer of everyday casual apparel, accessories and footwear designed to meet the needs of active teens and young adults. The company currently operates 291 stores in 39 states. The matters discussed in this news release with respect to sales involve risks and uncertainties, including changes in consumer demands and preferences, competition from other retailers, including demand for retail spaces and uncertainties generally associated with apparel retailing. The historical results achieved are not necessarily indicative of future prospects of the company. 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 Feb. 1, 1998, filed with the Securities and Exchange Commission. NOTE: Pacific Sunwear of California Inc. releases are available on Pacific Sunwear's Corporate News on the Net site atbusinesswire.com . Contact: Pacific Sunwear of California Inc., Anaheim Greg Weaver, Chairman/Chief Executive Officer 714/701-4000 Carl Womack, Chief Financial Officer 714/701-4003 James K. White, Investor Relations 562/437-0655