Sponsors
Billabong ▲ +0.025 | PPR ▲ +0.50 | American Apparel ▼ 0.00 | The Buckle ▲ +0.11 | Columbia ▲ +0.05 | Deckers Outdoor ▲ +0.86 | Dicks ▼ -0.88 | Foot Locker ▲ +0.40 | Genesco ▼ -0.14 | Iconix Brand Group ▲ +0.40 | Jarden Corp ▲ +0.40 | Nordstrom ▲ +0.02 | Luxottica ▼ -0.11 | Nike ▲ +0.33 | Pacific Sunwear ▼ -0.08 | Skullcandy ▼ -0.03 | Sport Chalet ▼ 0.00 | Urban Outfitters ▲ +0.09 | VF Corp ▲ +0.53 | Quiksilver ▼ -0.03 | Zumiez ▼ -0.52 | Macys ▲ +0.50 | Tillys ▼ -0.08 |
Ticker Sponsor
Readers Say
Executive Edition rules
Executive Edition rules

“Shop-Eat-Surf” is now officially, the first stop in the morning for industry news. Accurate reporting, no sensationalism, and just the facts. Refreshing support to an incredible industry with a very bright future. Tiffany has cemented her role in the industry....the site is thought provoking, and inspirational. Learning the stories of others is incredibly useful. Great way to connect the retail community with the wholesale and financial, instantly and nationwide. ... And the Executive Edition rules.

- By Bob Hurley, Chairman, Hurley International
Useful on a daily basis
Useful on a daily basis

It's well balanced information that is useful on a daily basis. I'm very satisfied with the Executive Edition. I start each day with SES and a big cup of coffee!

- By Tom Ruiz, EVP Sales, Volcom
Industry Insight

MOSS ADAMS: Alert! Authorities after 45,000 businesses that didn't file 2012 California corporate taxes.
CIT: Acquires SoCal-based One West Bank
SDSI: Sports and active lifestyle employment outlook.
Details on Industry Insight.


Tiffany Montgomery
Print This Article

PacSun's struggles continue, weak Q1 forecast

PacSun's struggles continue,
By Tiffany Montgomery
March 11, 2010 3:38 PM

By TIFFANY MONTGOMERY

Here are a few highlights from Pacific Sunwear’s earnings release this afternoon. More details to come from conference call.

Q4 results

Sales: down 17% to $293 million

Same store sales: down 19%

Net loss, excluding charges: $17 million vs. $27 million

Net loss, including charges: $36 million vs. 27 million

Cash: Ended quarter with $93 million in cash and no borrowings

2009 results

Sales: down 18% to $1 billion

Same store sales: down 20%

Net loss, excluding charges: $51 million vs. $39 million

Net loss, including charges: $70 million vs. $39 million

Q1 forecast

Same store sales: down 13% to 18%.

Gross margins: 19% to 21% vs. 27% the same period last year

Net loss: 50 cents to 60 cents per share. Excluding tax issues, a net loss of 32 cents to 38 cents.

The company is expecting same store sales will improve throughout the year.

 


More on: PacSun, earnings, forecast

Articles You Might Have Missed