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pacific sunwear of calif (PSUN) Key Developments

Pacific Sunwear of California Inc. Announces Unaudited Consolidated Earnings Results for Second Quarter and Six Months Ended August 2, 2014 ; Provides Guidance for the Third Quarter of Fiscal 2014

Pacific Sunwear of California Inc. announced unaudited consolidated earnings results for second quarter and six months ended August 2, 2014. For the quarter, the company reported net sales of $211,749,000, operating income of $976,000, income from continuing operations before taxes of $7,335,000, income from continuing operations of $7,501,000 or $0.1 per diluted share, net income of $7,501,000 or $0.1 per diluted share, non-GAAP loss from continuing operations of $1,842,000 or $0.03 per share compared to the net sales of $210,054,000, operating income of $5,902,000, income from continuing operations before taxes of $18,691,000, income from continuing operations of $18,604,000 or $0.27 per diluted share, net loss of $19,244,000 or $0.28 per diluted share, non-GAAP income from continuing operations of $1,640,000 or $0.02 per share for the same quarter a year ago. For the six months period, the company reported net sales of $382,892,000, operating loss of $6,387,000, income from continuing operations before taxes of $2,680,000, income from continuing operations of $2,896,000 or $0.04 per diluted share, net loss of $2,896,000 or $0.04 per diluted share, net cash provided by operating activities of $1,105,000, purchases of property, equipment and intangible assets of $7,919,000, non-GAAP loss from continuing operations of $9,266,000 or $0.13 per share compared to the net sales of $376,406,000, operating loss of $5,083,000, income from continuing operations before taxes of $42,513,000, income from continuing operations of $42,658,000 or $0.62 per diluted share, net loss of $43,426,000 or $0.63 per diluted share, net cash provided by operating activities of $17,090,000, purchases of property, equipment and intangible assets of $4,484,000, non-GAAP loss from continuing operations of $7,818,000 or $0.11 per share for the same period a year ago. The company's guidance range for the third quarter of fiscal 2014 contemplates a non-GAAP loss per diluted share from continuing operations of between $0.09 and $0.04, compared to $0.05 in the third quarter of fiscal 2013. For the third quarter of fiscal 2014, the company expected Comparable store sales from flat to up 3%, revenue from $203 million to $208 million, gross margin rate, including buying, distribution and occupancy, of 25% to 27%.

Pacific Sunwear of California Inc. to Report Q2, 2015 Results on Aug 28, 2014

Pacific Sunwear of California Inc. announced that they will report Q2, 2015 results at 5:00 PM, Eastern Standard Time on Aug 28, 2014

Pacific Sunwear of California Inc., Q2 2015 Earnings Call, Aug 28, 2014

Pacific Sunwear of California Inc., Q2 2015 Earnings Call, Aug 28, 2014

Pacific Sunwear of California Inc. Provides Earnings Guidance for the Second Quarter of Fiscal 2014

Pacific Sunwear of California Inc. stated that it expects its non-GAAP loss from continuing operations per diluted share for the second quarter of fiscal 2014 to be generally in line with analysts' consensus estimates of $0.03, which compares favorably to the company's previously issued non-GAAP guidance of $0.08 to $0.02.

Pacific Sunwear of California, Inc. Announces Board Changes

Pacific Sunwear of California Inc. announced the resignation of Christine Lee, its Senior Vice President of Women's Merchandising and Design. Brieane Breuer, who joined the company in 2007 and is the company's current Vice President of Women's Design, will assume the additional responsibilities of women's merchandising on an interim basis.

 

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