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Pacific Sunwear June same-store sales up 3 percent



By AP
10 July 2008 @ 07:44 am EST

ANAHEIM, Calif. - Specialty retailer Pacific Sunwear of California Inc. said Thursday that same-store sales rose 3 percent in May, topping Wall Street forecasts.

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Analysts surveyed by Thomson Financial forecast a same-store sales decline of 1.8 percent.

For the four weeks ended July 5, the company's total sales rose 5 percent to $127.2 million, from $120.8 million last year.

For the first 22 weeks of fiscal 2008, same-store sales were flat and total sales rose slightly to $480.5 million from $477.2 million during the prior year.

Same-store sales, or sales at stores open at least a year, is a key indicator of retailer performance since it measures growth at existing stores rather than newly opened ones.

Pacific Sunwear sells casual apparel, accessories and shoes for teens and young adults.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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