Pacific Sunwear Adj. Loss Wider Than Estimates; Q3 Guidance Weak

(RTTNews) - Pacific Sunwear of California Inc (PSUN) on Tuesday reported second-quarter net earnings of $8.3 million or $0.12 per share compared with $7.5 million or $0.10 per share last year.

Excluding items, adjusted loss for the quarter was $0.06 per share compared with a loss of $0.03 per share a year ago.

Revenues for the quarter were $195.6 million compared with $211.7 million in the prior year.

Analysts polled by Thomson Reuters estimated a loss of $0.02 per share on revenues of $204.6 million for the quarter. Analysts' estimates typically exclude special items.

Comparable store sales for the quarter fell 6%.

For the third quarter, the company expects adjusted loss of $0.13 to $0.05 per share and revenues of $196 million to $203 million. Analysts expect a loss of $0.02 per share on revenues of $212 million.

Pacific Sunwear is a specialty retailer rooted in the action sports, fashion and music influences of the California lifestyle.