Pacific Sunwear of California, Inc. reported that total sales for the four weeks of January of fiscal 2003 were $54.4 million, an increase of 24.5% over total sales of $43.7 million for the four weeks of January of fiscal 2002. Company same store sales increased 12.4% for the comparable four-week period ended January 31, 2004 with PacSun same store sales up 12.7% and d.e.m.o. same store sales up 10.7%.
Total sales for the fourth quarter of fiscal 2003 (thirteen weeks) were $326.3 million, an increase of 22.9% over total sales of $265.6 million for the fourth quarter of fiscal 2002. Company same store sales increased 12.0% for the fourth quarter of fiscal 2003 with PacSun same store sales up 11.9% and d.e.m.o. same store sales up 12.6%.
Based on January sales results, the Company is raising its fourth quarter earnings per share outlook to $.42 versus its previous guidance of $.41.
“Fiscal 2003 was a great year for PacSun with sales exceeding $1 billion for the first time at $1.04 billion. Same store sales grew 13.1% in fiscal 2003 on top of a 9.7% increase in fiscal 2002. I am optimistic as we enter 2004 based on strong fourth quarter sales trends, particularly in our footwear, accessory, denim and t-shirt businesses,” stated Greg Weaver, Chairman and Chief Executive Officer.
Total sales for fiscal 2003 (fifty-two weeks) were $1,040.3 million, an increase of 22.9% over total sales of $846.4 million for fiscal 2002 (fifty-two weeks). Company same store sales increased 13.1% for fiscal 2003 with PacSun same store sales up 12.3% and d.e.m.o. same store sales up 21.0%.
