Pacific Sunwear (PSUN) March Same-Store Sales Decreased 10.9%, Company Lowers Q1 Outlook
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Pacific Sunwear (Nasdaq: PSUN) reported that total sales for the five weeks of fiscal March ending April 1, 2006 were $116.8 million, a decrease of 2.9% over total sales of $120.3 million during the same period last year.
Total Company same store sales decreased 10.9% during the same period. By concept, PacSun same store sales decreased 11.9% and d.e.m.o. same store sales decreased 3.9% compared to the same five week period last year.
The Company is adjusting its first quarter 2006 earnings guidance to $0.14-0.16 per diluted share. The Company remains comfortable with its fiscal 2006 annual guidance of 10 to 15% net income growth. Current Q1 consensus is $0.20 per share.
Total Company same store sales decreased 10.9% during the same period. By concept, PacSun same store sales decreased 11.9% and d.e.m.o. same store sales decreased 3.9% compared to the same five week period last year.
The Company is adjusting its first quarter 2006 earnings guidance to $0.14-0.16 per diluted share. The Company remains comfortable with its fiscal 2006 annual guidance of 10 to 15% net income growth. Current Q1 consensus is $0.20 per share.
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