Men’s division bolsters PacSun in Q2

Improved sales in Pacific Sunwear’s men’s division helped bolster the company’s earnings for the second quarter ended Aug. 2.

The company reported earnings of $7.5 million for the quarter, compared to a net loss of $19.2 million in the year-ago period. Comparable store sales inched up 0.3%.

Revenue for the quarter was a better-than-expected $211.7 million, up from $210.1 million last year.

“As previously indicated, sales trends improved as the quarter progressed led by continued growth in our men’s business resulting in non-GAAP EPS at the higher end of our guidance,” said Gary H. Schoenfeld, president and CEO. “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.”

Despite Schoenfeld’s optimism about the third quarter, the teen apparel retailer forecast a wider-than-expected loss for the quarter.

The company closed its second quarter with 618 stores, down from 637 stores a year ago.
 

 

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