Pacific Sunwear of California Inc. posted a wider fourth-quarter loss, but managed to narrow its loss for the full year. For the three months ended Jan. 31, the loss widened to $26 million, or 38 cents a diluted share, from a loss of $22.5 million, or 33 cents, a year ago. Excluding certain one-time items, the retailer would have posted a loss from continuing operations of 10 cents a diluted share, compared with a loss from continuing operations of 17 cents a diluted share a year ago. Net sales rose 5.9 percent to $231.6 million from $218.6 million, on a comparable-store sales gain of 6 percent. The company did better than Wall Street’s consensus estimate, which was a loss of 11 cents a share on an adjusted basis on net sales of $229.5 million. RELATED CONTENT: WWD Earnings Tracker >> For the year, the loss narrowed to $29.4 million, or 42 cents a diluted share, from a loss of $48.7 million, or 71 cents, in 2013. Net sales rose 3.6 percent to $826.8 million from $797.8 million. Gary H. Schoenfeld, president and chief executive officer, said, “Building on a strong finish to 2014, we continue to believe in the distinct positioning that we are
Read More...
Follow WWD on Twitter or become a fan on Facebook.
Read More...
No comments:
Post a Comment