PacSun swings to Q2 profit

Anaheim, Calif. -- Pacific Sunwear of California Inc. reported fiscal second-quarter earnings of $7.5 million, in line with Wall Street estimates, compared to net loss of $19.2 million in the year ago period, helped by improved sales in its men’s division. But the teen apparel retailer forecast a wider-than-expected loss for the current quarter.


The company posted revenue of $211.7 million in the period, better than expected, up from million from $210.1 million last year.

“As previously indicated, sales trends improved as the quarter progressed led by continued growth in our Men’s business resulting in non-GAAP EPS at the higher end of our guidance,” said Gary H. Schoenfeld, president and CEO. “For Q3, 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. We continue to believe that our core strategies are attracting new customers and differentiating PacSun in this very competitive market.”

The company ended the second quarter with 618 stores, down from 637 stores a year ago.

 

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