Pacific Sunwear of California, Inc. reported that total sales for the five weeks of March of fiscal 2003 were $84.5 million, an increase of 18.9% over total sales of $71.1 million for the five weeks of March of fiscal 2002. Company same store sales increased 9.5% for the comparable five-week period ended April 5, 2003 with PacSun same store sales up 6.8% and d.e.m.o. same store sales up 35.1%.
Based upon March same store sales results, the Company believes first quarter earnings per share will likely be $0.14 (as adjusted for the three-for-two stock split effected in December 2002) which represents a 100% increase in earnings per share over the first quarter last year.
Total sales for fiscal 2003 (nine-weeks) were $137.9 million, an increase of 21.2% over total sales of $113.8 million for fiscal 2002 (nine-weeks). Company same store sales increased 11.5% for the first nine weeks of fiscal 2003 with PacSun same store sales up 8.0% and d.e.m.o. same store sales up 41.1%.