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PacSun Reports 2nd Quarter
Pacific Sunwear of California reported a 0.3 percent increase in same-store sales for the second quarter of its fiscal 2014 year. On Aug. 28, the Anaheim, Calif.–headquartered company announced that it made $211.7 million in net sales during the second quarter in 2014 compared with net sales of 210.1 million in the same quarter of the previous year. The company wrapped up the most recent quarter running a fleet of 618 stores compared with a fleet of 637 stores last year.
Gary H. Schoenfeld, president and chief executive officer of PacSun, said men’s apparel pushed sales growth. “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,” Schoenfeld said in a prepared statement.
For its third quarter, PacSun forecast its same-store sales will range from flat to 3 percent. Its revenue will range from $203 million to $208 million. It also forecast a non-GAAP loss per diluted share from continuing operations of between $0.09 and $0.04, compared with $0.05 in the third quarter of fiscal 2013.
