Industry News

PacSun Sales and Comps Climbed in April

Surfersvillage Global Surf News, 8 May, 2008 : - - Pacific Sunwear of California, Inc. said total sales from its PacSun division for the four weeks of fiscal April ended May 3, 2008 were $73.8 million, an increase of 5% versus division sales of $70.4 million during the same period last year. PacSun same-store sales increased 4% during the same period.

Total sales from the PacSun division for the first 13 weeks of fiscal 2008 were $266.8 million versus division sales of $267.9 million during the same period last year. Companywide, same store sales decreased 1% during the same period.

The company completed the liquidation of its demo business in April. All demo stores are now closed. The company will report demo as a discontinued operation in quarterly filings beginning with the first quarter of fiscal 2008 ended May 3, 2008. Total sales from these demo liquidation stores for the first 13 weeks of fiscal 2008 were $27.1 million.

PSUN said it expects to report a GAAP net loss for the first quarter of fiscal 2008 in the range of 17 cents to 18 cents per diluted share. This range includes a non-cash impairment charge of approximately 7 cents per diluted share for the materials handling equipment associated with the sale of its Anaheim Distribution Center.

www.pacsun.com

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