One of their values is that:
"We know that our business activity—from lighting stores to dyeing shirts—is part of the problem. We work steadily to change our business practices and share what we’ve learned. But we recognize that this is not enough. We seek not only to do less harm, but more good."
Running sales, just generates more impulse purchases and consumerism. If the products they make are truly the best that they can, they wouldn't have the need to clear out stock on a regular basis and to make way for new styles being made all the time.
Furthermore, they love to plaster their branding all over the "Big Oil, Don't Surf" campaigns (of which I do think is a good cause), but it's a little hypocritic when the surf industry wouldn't exist without oil, not to mention that their own wetsuits contain synthetic rubber (derived from oil).