Pacific Sunwear Q2 Results In Line; Q3 Outlook Disappoints

Loading...
Loading...
Pacific Sunwear of California, Inc.
PSUN
trended down slightly in the extended session Thursday after it posted in-line second quarter results and issued a disappointing forecast. The apparel retailer expects a third quarter adjusted loss of $0.09 to $0.04 cents a share on sales of $203 million to $208 million. Wall Street anticipated a loss of $0.02 cents a share on revenue of $207.1 million. "Even in the face of a down-trending denim cycle, we are encouraged by the positive response to the balance of our initial fall assortments," Chief Executive Gary H. Schoenfeld said Thursday. In the recent period the company's same-store sales grew 0.3 percent and the company forecast third-quarter comparable growth between 0 percent and and 3 percent. During the second-quarter, Pacific swung to a profit from continuing operations of $7.5 million, or $0.10 cents a share, from a loss of $18.6 million, or $0.27 cents a share a year earlier. Sales nudged up to $211.7 million from $210.1 million a year earlier. Excluding a non-cash gain from an earlier financing, the company posted an adjusted loss of $0.03 cents a share. Wall Street expected an adjusted loss of $0.03 cents a share, on revenue of $208.5 million. Pacific Sunwear traded recently after hours at $2.30 a share, dow 0.02 percent.
Loading...
Loading...
Posted In: EarningsNewsGuidanceAfter-Hours Center
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...