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Earnings Analysis: 
Pacific Sunwear Q3 Earnings Call Transcript
Author: 123jump.com Staff
123jump.com
Last Update: 6:12 PM ET December 04 2008


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Michael L. Henry

Well, we don’t have clear visibility into what goes on behind the scenes with -- on the other side of this transaction. We’ve just been told by the senior leadership of the buyer that they remain extremely committed to this transaction and they intend it to close any day now and there’s just some administrative things going on behind the scenes.

Janet Kloppenburg - JJK Research

Okay, so maybe we’ll see an announcement in the next week or so?

Michael L. Henry

That’s very possible.

Janet Kloppenburg - JJK Research

Okay. Well, I just wanted to wish you lots of luck for the season. I hope things improve a bit. Good luck.

Michael L. Henry

Thank you.

Sally Frame Kasaks

Thanks Janet.

Operator

Your next question comes from Liz Pierce of Roth Capital Partners.

Elizabeth Pierce - Roth Capital Partners LLC

Thanks. Sally, in your guidance for the fourth quarter, I presume negative high-single-digit on the comp that -- do you expect the girls business can kind of sustain where we’ve seen it or -- and that men’s will continue to soften? Maybe you could give us a little bit of color on that.

Sally Frame Kasaks

Well, it’s going to be hard until we get more into -- you know there’s a lot riding on Thanksgiving weekend and certainly the back half of December. We would think that the trends would be fairly consistent with what they have been over the past few weeks, though we’ve got some good solid, good assortments out there. There’s a new floor set has just gone in this weekend and we have another one in December, and I think -- so at this point I would say the trend is continuing about what they have been, more conservative on some of the young men’s, a little more ambitious on the junior’s but on balance, a pretty consistent trend.

Elizabeth Pierce - Roth Capital Partners LLC

And is that how the inventory -- I mean, were you able to edit the inventory then to support that at the last, like say last --
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