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Pacific Sunwear posts higher web sales last year
E-commerce was a bright spot in an otherwise tough year for Pacific Sunwear. Web sales in 2009 grew 15.4% while total revenue and comparable-store sales declined by 17.6% and 20.0%, respectively.
E-commerce was a bright spot in an otherwise tough year for Pacific Sunwear Inc.
For the year ended Jan. 30, 2010,Pacific Sunwear, No. 275 in the Internet Retailer Top 500 Guide, recorded:
- An increase in web sales of 15.4% to $50.9 million from $44.1 million in 2008.
- Total sales decreased year over year 17.6% to $1.03 billion from $1.25 billion.
- Comparable-store sales declined 20.0%.
- Net loss was $70.0 million compared with a net loss of $39.0 million in 2008.
Based on calculations by Internet Retailer, e-commerce accounted for 4.9% of total sales compared with 3.5% in 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,” says CEO Gary Schoenfeld. “We`ve still got a tough period ahead of us in our juniors` business, yet I believe our young men’s categories can begin to lead the turnaround of our business as we look further ahead to back-to-school and holiday.”
Pacific Sunwear, which doesn’t break out quarterly e-commerce sales, recorded for the fourth quarter:
- Total sales decreased year over year 16.8% to $293.0 million from $352.0 million in Q4 2008.
- Same-store sales declined 19.0%.
- Net loss was $36.0 million compared with a net loss of $27.0 million in Q4 2008.