Printer Friendly

PACIFIC SUNWEAR REPORTS DECEMBER SALES

 SANTA ANA, Calif., Jan. 5 /PRNewswire/ -- Pacific Sunwear of California Inc. (NASDAQ: PSUN) today reported sales of $10.9 million for the five-week period ended Jan. 2, 1994, an increase of 26 percent over sales of $8.65 million reported for the five-week period ended Jan. 3, 1993. Comparable store sales decreased 7 percent for the period, compared with an increase of 24 percent for the same period last year.
 Michael Rayden, president of Pacific Sunwear, said, "Overall, we are pleased with our sales performance during December. Our holiday business was strong in the Northeast and Florida, flat in Northern California, and weakest in Southern California, reflecting the continuing effects of the economic recession in the State of California."
 Rayden added, "Sales of our 24 new stores opened in 1993 are exceeding our expectations with current annualized average sales of more than $700,000, outperforming our new store model by $75,000. These new stores have been open an average of five months. Given the success of these new stores, all of which (with the exception of one) are located outside California, we plan to open 35 to 40 new stores during 1994, increasing our store count by more than 40 percent by the end of 1994."
 Pacific Sunwear of California Inc. is a mall-based specialty retailer of young men's everyday apparel and accessories reflecting the casual lifestyle of Southern California. The company operates 84 stores in 12 states, including California, Arizona, Connecticut, Florida, Maryland, Massachusetts, Nevada, New Jersey, New York, Oregon, Virginia, and Washington.
 -0- 1/5/94
 /CONTACT: Michael Rayden, president, or Carl Womack, CFO, Pacific Sunwear, 714-250-8887/
 (PSUN)


CO: Pacific Sunwear of California Inc. ST: California IN: REA SU: SLS

JP-MF -- LA019 -- 9182 01/05/94 08:31 EST
COPYRIGHT 1994 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1994 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 5, 1994
Words:292
Previous Article:COUNTRYWIDE CREDIT PRODUCES $5 BILLION IN HOME LOANS; SERVICING PORTFOLIO RISES TO $80 BILLION
Next Article:DIVERSIFICATION INITIATIVES ARE HALLMARK OF BLUE CROSS AND BLUE SHIELD OF MINNESOTA IN 1993
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters