Pacific Sunwear Loss Wider Than Estimates; Q2 Outlook Weak

(RTTNews) - Pacific Sunwear of California Inc (PSUN on Thursday reported first-quarter net loss of $3.5 million or $0.05 per share compared with a loss of $10.4 million or $0.15 per share last year.

Excluding items, adjusted loss for the quarter was $0.12 per share compared with a loss of $0.11 per share a year ago.

Revenues for the quarter were lower at $166.5 million compared with $171.1 million in the prior year.

Analysts polled by Thomson Reuters estimated a loss of $0.11 per share on revenues of $170.1 million for the quarter. Analysts' estimates typically exclude special items.

Comparable store sales for the quarter fell 2%.

For the second quarter, the company expects adjusted earnings per share to range between a loss of $0.05 and a profit of $0.01. It expects revenues of $201 million to $209 million, and comparable sales to range between minus 4% to flat for the quarter.

Analysts expect a loss of $0.01 per share on revenues of $214.2 million for the second quarter.

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