MOSS ADAMS: Webinar 12/2 on internal controls to increase the value of your business.
AGENDA: 12/30 deadline to pre-register for Jan. 5-6 Long Beach show.
CIT TRADE FINANCE: Middle-market retailers cautiously optimistic for holiday.
Details on Industry Insight.
Here's the report:
The industry's biggest customer had a "weaker than expected performance in December," executives said.
Total company same-store sales: down 2.8 percent.
PacSun stores: up 0.8 percent
Demo stores: down 28.4 percent
Company same-store sales YTD: up 1.2 percent
PacSun stores YTD: up 3.7 percent
Demo stores YTD: down 18.3 percent
Best regions: Texas, Northwest, Midwest
Worst: desert Southwest, Southern California, Florida
Strong category: Apparel up 13 percent
Juniors apparel: up low 20s led by tops, dresses and Bullhead denim.
Guys apparel: up high single digits led by tops
Accessories and footwear: down 22 percent.
Guidance: Lowered to 11 to 14 cents per share because of weak sales and expenses from Demo closure and relocating Anaheim distribution center to the Midwest. January same-store sales should be similar to December.
December same-store sales: down 7.9 percent, below guidance of down 4 to 7 percent.
November and December combined: down 1.1 percent, consistent with guidance.
Explanation: Macroeconomic environment dampened sales, executives said.
January same-store sales: Should be down 4 to 6 percent.
December same-store sales: down 4 percent
Quarter to date: up 0.7 percent
Best regions: Northwest and Northeast
Best categories: accessories and women's shoes
Owned by Abercrombie & Fitch
December same-store sales: down 3 percent
Guys: up mid-single digit
Girls: down high-single digit
Best regions company-wide: Southwest
December same-store sales: up 18.7 percent
Men's total sales: up 25.5 percent
Strong men's categories: denim, woven and knit tops, sweaters.
Women's total sales: up 19 percent
Strong women's categories: denim, knit tops, outerwear.