PSUN: It’s a Cloudy Day for Pacific Sunwear Stock

Its second-quarter outlook fell short of analysts' forecasts

   

PSUN: It’s a Cloudy Day for Pacific Sunwear Stock

Shares of Pacific Sunwear of California (PSUN) tumbled more than 11% in Friday pre-market trading after the casual apparel maker posted a lower quarterly loss, but issued disappointing current quarter-guidance.

Pac Sun Pacific Sunwear 300x186 PSUN: It's a Cloudy Day for Pacific Sunwear StockPSUN reported a fiscal first-quarter loss of $10.4 million, down from $24.2 million in the year-ago period. Adjusted EPS showed a loss of 11 cents from continuing operations. That was better than the loss of 13 cents per share that Wall Street had forecast, RTT News notes.

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Quarterly revenue at PSUN climbed from $166.4 million in the prior-year period to $171.1 million. That narrowly beat the $170.74 million that analysts had predicted. PSUN indicated that same-store sales rose 3% during the quarter.

However, for the current quarter, PSUN said it anticipates a loss from continuing operations of between 8 cents and 2 cents per share. Analysts had been looking for a loss of 2 cents. PSUN estimates second-quarter revenue to come in between $200 million and $210 million. That also fell below the $216.11 million that analysts had forecast.

On Thursday, PacSun stock closed at $2.94 per share.

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Article printed from InvestorPlace Media, http://investorplace.com/2014/05/psun-cloudy-day-pacific-sunwear-stock/.

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