Pacific Sunwear of California, Inc. saw net sales for the four weeks of fiscal January decrease 3.7% to $66.3 million from $68.9 million for the same four week period in the prior year.  By concept, PacSun total sales were $59.6 million, a slight increase over total sales of $59.4 million during the same four week period last year.  demo total sales were $6.6 million, a decrease of 36.6% from total sales of $10.4 million during the comp four week period last year.

By concept, PacSun same-store sales decreased 1.7% and demo same-store sales decreased 37.9%. Total company same-store sales decreased 7.4% during the same period.


Comps were strongest in Texas, Upper Midwest and New England and remained weakest in the desert Southwest, Southern California and Florida. Apparel sales drove a 13% comp increase and accounted for 73% of total comp sales.


Junior's apparel comps were up low-20s driven by continued strength in tops, Bullhead denim and dresses. Guys apparel comps were up mid-single-digits driven by tops and denim. Accessory comps were down high-teens and footwear comps were down high-30s, partially due to planned reductions in these categories. Transactions for comp stores and the average unit retail were both down low-single-digits.


Total sales for the fourth quarter were $421.8 million, a slight increase over total sales of $419.0 million during the same 13-week period ended February 3, 2007. By concept, PacSun total sales for the quarter were $384.1 million, a 4.5% increase over total sales of $367.6 million last year. demo total sales were $36.0 million, a decrease of 29.2% from total sales of $50.8 million during the comparable 13-week period last year.


By concept, PacSun same-store sales increased 2.1% and demo same-store sales decreased 31.0% compared to the same period last year. Total company same-store sales decreased 2.2% for the quarter.


For the fiscal year, net sales totaled $1.45 billion, an increase of 4.6% over total sales of $1.38 billion last year. PacSun total sales were $1.31 billion, an increase of 6.7% over total sales of $1.22 billion last year. demo sales decreased 12.7% to $135.0 million from $154.6 million last year. PacSun same-store sales increased 3.4%, but demo same-store sales decreased 19.6%. Total company same-store sales increased 0.7% during the same period. Sales figures for both years exclude sales from the 74 demo stores closed earlier this year.


The company now expects fourth quarter GAAP earnings to be 13 cents to 16 cents per diluted share. The company reiterated its fourth quarter, non-GAAP earnings guidance of 29 cents to 32 cents per diluted share.