Pacific Sunwear widens loss in Q4, sales drop
Anaheim, Calif. Pacific Sunwear of California reported late Thursday that its fourth-quarter loss widened as sales fell. The teen retailer posted a loss of $36.5 million for the quarter ended Jan. 30, compared with a loss of $27 million in the year-ago period.
Sales fell 17% to $293 million.
Analysts expected revenue of $277.4 million.
For the full year, the company reported a loss of $70.3 million, compared with a loss of $63.8 million a year ago. Sales fell 18% to $1.03 billion.
PacSun 4Q comps down 19%
ANAHEIM, Calif. Pacific Sunwear of California announced that total sales for the fourth quarter of fiscal 2009 ended Jan. 30 were $293 million, a decrease of 17% from total sales of $352 million for the fourth quarter of fiscal 2008 ended Jan.31, 2009. Total Company same-store sales decreased 19% during the fourth quarter of fiscal 2009.
For the fourth quarter of fiscal 2009, the company reported a net loss of $36 million, or 56 cents per share, compared with a net loss of $27 million, or 42 centsper share, for the fourth quarter of fiscal 2008.
“When I joined PacSun, given all that we needed to do I knew it would take time to turn things around. Eight months into the job, I’m encouraged by the changes we’re making and the prospects for PacSun to once again become a leader for teens in the mall,” stated Gary Schoenfeld, president and CEO.
Total sales for fiscal 2009 ended Jan. 30 were $1.03 billion, a decrease of 18% from total sales of $1.25 billion during fiscal 2008 ended Jan. 31, 2009. Total company same-store sales decreased 20% during fiscal 2009. For fiscal 2009, the company reported a loss of $70 million, or $1.07 per share, compared with a loss from continuing operations of $39 million, or 59 cents per share, in fiscal 2008.
Pacific Sunwear said it expects to report a GAAP net loss per share of 50 cents to 60 cents for the first quarter of fiscal 2010. The company expects same-store sales to decline in a range of 13% to 18% for the quarter.
Staples B-to-B division launches new Web site
FRAMINGHAM, Mass. Staples announced that its business-to-business division, Staples Advantage, has launched a new Web site (StaplesAdvantage.com) to address customers’ growing demands for supplier consolidation and reduced procurement costs.
The site enables customers to view the full range of Staples Advantage’s products and services, including five newly integrated business-to-business service offerings, the company reported.
The five new services offered include:
“Businesses today are eager to create efficiencies in procurement given reduced human and capital resources,” said Jay Baitler, EVP Staples Advantage. “Our new StaplesAdvantage.com Web site helps our current and potential new customers understand how we can deliver much more than office supplies — to support their supplier consolidation goals and find new opportunities for savings.”