Looks like teen retailer Pacific Sunwear ( PSUN) will bring the year to a close with a rosy fourth quarter, extending an epic run of year-over-year increases in both profit and sales to all four quarters of 2003. "PacSun executed well in a period when a lot of retailers weren't," said one buy-side analyst. The consensus for fourth-quarter earnings is 42 cents a share, according to analysts polled by Thomson One Analytics. Results are expected to be at least in line with that estimate, compared to earnings of 31 cents a share last year. The company will report fourth-quarter and full-year earnings Tuesday when the market closes. Indeed, it's hard to argue with a company that has had a 22.9% increase in full-year 2003 sales, with same-store sales up 13.1%. That compared favorably to a total sales increase of 23.6% in 2002, when same-store sales rose 9.7%. But while there seems to be nothing standing in the way of the company's frequent double-digit increases in monthly same-store sales and quarterly surges in profit and revenue, analysts wonder if the company's commitment to specific clothing categories could hurt sales down the line. One of the keys to PacSun's success is the fashionability of denim. In addition, sales in the men's category have picked up, while sales of T-shirts have been strong going into the spring season, according to Jeff Van Sinderen, an analyst who covers the company for B. Riley & Co. The company's strength also comes from the variety of brands it sells. It has at least 10 brands in clothing, footwear and accessories, and PacSun's private label d.e.m.o stores have demonstrated strong sales. D.e.m.o.'s positive same-store sales in the last year had convinced the company to expand the store base this year, Sinderen said.