Pacific Sunwear loss widens
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Clothing retailer Pacific Sunwear of California Inc. posted a wider fiscal first-quarter loss on lower sales and a charge related to the closure of an Anaheim facility.
The loss was in line with Wall Street predictions, but the company cut its guidance for the year, sending its shares down 51 cents, or 5%, to $9.60 in after-hours trading. Its stock rose 7 cents to $10.11 in the regular session.
For the quarter that ended May 3, Pacific Sunwear posted a loss of $37.1 million, or 53 cents a share, compared with a loss of $5.1 million, or 7 cents, a year earlier. Revenue slid 0.5% to $266.9 million.
Losses excluding one-time items totaled $12 million, or 17 cents a share. Analysts polled by Thomson Financial expected a loss of 10 cents a share, excluding one-time items, on $266.5 million in revenue.
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