MOSS ADAMS CAPITAL: Apparel and foowear market monitor highlights notable deals, stock prices and results.
Details on Industry Insight.
Quarter-to-date same store sales through Jan. 1 declined 7% at PacSun, leading to holiday results that PacSun CEO Gary Schoenfeld described as "disappointing."
The men's business is "trending toward" a positive comp. After improving somewhat last quarter, women's sales worsened, with holiday comps declining approximately 20%.
As a result, PacSun estimated its loss in the fourth quarter will be wider than planned. The company expects to report a loss of 49 cents to 54 cents per share. Previously, PacSun had expected a loss per share of 10 cents to 29 cents.