So as we look at the fourth quarter and the end of the year, sales from continuing operations were $234 million versus $238 million last year and for the total year were $834 million versus $837 million for 2010. As we stated in the press release, our overall business, which includes all stores opened during the fourth quarter, improved as we got further into the holiday-selling season, moving from a minus 3 comp store sales at the time of our last conference call to flat for the fourth quarter.Given the highly promotional nature of the holiday season, we were also encouraged by our 150 basis point improvement in merchandise margins for continuing stores and the decline in non-GAAP net loss, which I will speak to in a moment.
Pacific Sunwear Of California's CEO Discusses Q4 2011 Results - Earnings Call Transcript
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