Question-and-Answer Session
Operator
(Operator Instructions) Our first question comes from Adrienne Tennant of FBR.
Adrienne Tennant - Friedman, Billings, Ramsey
Good afternoon. I’m just wondering why if you are running in this negative low double-digit range, why would we see, given that the shift is coming in front of us and we lose some days, et cetera, in the weekend, why we would think to see an improvement in the overall absolute trend rate for the comp.
Michael L. Henry
It’s because of the shift in November, Adrienne, with Thanksgiving moving from the third week to the fourth week, we do expect November to be negative mid-teens probably by the time it’s all said and done but then we do expect to return to kind of a negative mid-single comp, negative high-single comp in December and January.
Adrienne Tennant - Friedman, Billings, Ramsey
Okay, because I was trying to figure out because each week is obviously more proportional or more of an impact on November, I was thinking that maybe the shift back into December on a comp basis would be less than the shift out of November.
Michael L. Henry
Well, we’ll see how it plays out. Everyone can make their own assumptions. Our planning guys have taken a hard look at it on a category by category basis and looked at it week-to-week builds and month-to-month builds and historical trends and all those sorts of things, and we’ve put together the plan that we’ve communicated to you and we will see how it plays out.
Adrienne Tennant - Friedman, Billings, Ramsey
Okay, and then can you just -- are there -- how many of the stores are four-wall, non-profitable?
Michael L. Henry
Four-wall non-profitable we have approximately 100 stores. When you take back out depreciation, cash flow there are only about two dozen that are negative cash flow.
Adrienne Tennant - Friedman, Billings, Ramsey
Okay. Thank you very much. Good luck for holiday.
Operator
Your next question comes from Kimberly Greenberger of Citigroup.
Kimberly Greenberger - Citigroup
Thank you. Good evening. I had a question -- could you look out to 2009 and just talk to us about what sort of cuts you think you might be able to make in your SG&A numbers next year? And within your $30 million CapEx budget, could you just give us some rough guidance on are there any new stores in that number, how many refreshes are you doing, and is there a possibility that you might engage in more aggressive store closings for the PAC-SUN brand?
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