Anaheim, Calif. Pacific Sunwear of California on Thursday posted a loss for its second quarter as sales continued to slump for the teen-focused retailer. The company also issued a third-quarter outlook worse than analyst estimates.
Pacific Sunwear reported a loss of $14.2 million in the three-month period ended Aug. 1, compared with earnings of $3.7 million in the same period last year. Its results were slightly above analysts’ views. Last year's quarter included a benefit from discontinued operations of $912,000.
Sales declined 22% to $242.8 million from $312.7 million last year, as same-store sales fell 24%.