While PacSun and Zumiez Continue Swapped Comps Stance and Buckle Sets Pace

July 14, 2008
SGB Update

Pacific Sunwear of California, Inc. reported total PacSun sales for the five weeks of fiscal June ended July 5, 2008 were $127.2 million, an increase of 5% versus total PacSun sales of $120.8 million during the same period last year.  Same-store sales increased 3% during the same period. On a pre-recorded conference call, management commented that the comparable store sales increase was “driven in part by increased promotions, year-over-year.”


Geographically, comps were strongest in Texas and the Midwest, but remained weakest in the desert Southwest, California and Florida. Apparel comps were up 17% and accounted for 81% of total comp sales. Juniors apparel comps were up 30%, while young men's apparel comps were up 6%. Accessory comps were down high-teens.  As anticipated, footwear comps were down high-40s due to the planned exit of sneakers and fashion footwear. Transactions per comp store were up low-teens, offset by lower average unit retail prices.


For the second quarter-to-date, PacSun net sales increased 2.1% to $213.6 million from $209.3 million during the same period last year. PacSun same store sales increased 1% during the same period.
Zumiez Inc. saw net sales increase 10.2% for fiscal June to $34.7 million from $31.5 million last year. Store growth drove the gains, however, as comparable store sales decreased 3.4% for the month after increasing 12.7% last year. The decline in comparable store sales was driven by a decrease in comp store transactions, somewhat offset by an increase in average unit retail.

While PacSun and Zumiez Continue Swapped Comps Stance and Buckle Sets Pace

SGB Update

Pacific Sunwear of California, Inc. reported total PacSun sales for the five weeks of fiscal June ended July 5, 2008 were $127.2 million, an increase of 5% versus total PacSun sales of $120.8 million during the same period last year.  Same-store sales increased 3% during the same period. On a pre-recorded conference call, management commented that the comparable store sales increase was “driven in part by increased promotions, year-over-year.”


Geographically, comps were strongest in Texas and the Midwest, but remained weakest in the desert Southwest, California and Florida. Apparel comps were up 17% and accounted for 81% of total comp sales. Juniors apparel comps were up 30%, while young men's apparel comps were up 6%. Accessory comps were down high-teens.  As anticipated, footwear comps were down high-40s due to the planned exit of sneakers and fashion footwear. Transactions per comp store were up low-teens, offset by lower average unit retail prices.


For the second quarter-to-date, PacSun net sales increased 2.1% to $213.6 million from $209.3 million during the same period last year. PacSun same store sales increased 1% during the same period.

 

Zumiez Inc. saw net sales increase 10.2% for fiscal June to $34.7 million from $31.5 million last year. Store growth drove the gains, however, as comparable store sales decreased 3.4% for the month after increasing 12.7% last year. The decline in comparable store sales was driven by a decrease in comp store transactions, somewhat offset by an increase in average unit retail. 

 

Footwear and skate hard goods posted positive comps for the month, offset by negative comps in accessories, juniors, men's and boys apparel. For the second quarter-to-date, comps are down 1.9% with year-to-date comps down 1.3%.


The Buckle, Inc. continues to run roughshod over the rest of the mall, posting a 28.9% jump in June comps. Net sales increased 38.6% to $61.9 million from $44.7 million a year ago.


West Marine, Inc. said net sales for the second quarter ended June 28, 2008 were $226.7 million, a decrease of $20.4 million, or 8.3%, from net sales of $247.1 million for the same period a year ago, primarily due to a $16.4 million decrease in comparable store sales. Q2 comps declined 7.8%.


Net sales attributable to the stores segment for the second quarter of 2008 were $198.6 million, a decrease of $20.1 million, or 9.2%, compared to same period last year. The sales decrease primarily was due to the $16.4 million decrease in comparable store sales and $4.1 million of prior-year sales at closed stores. Port Supply (wholesale) segment sales through the distribution centers for the second quarter of 2008 were $12.8 million, a decrease of $0.6 million, or 4.1%, compared to the same period last year. Port Supply sales to wholesale customers through retail store locations are included in the Stores segment. Net sales in the Direct Sales segment for the second quarter of 2008 were $14.3 million, a decrease of $0.8 million, or 5.1%, compared to same period last year.


 




 

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