Pacific Sunwear Q4 Loss Narrows
Mar 20th 2013 8:20PM
Updated Mar 20th 2013 8:26PM
Pacific Sunwear of California trimmed its quarterly loss in its Q4 and 2012 report, but guidance came in worse than expected. For the quarter, net sales from continuing operations were $228 million, up modestly from the $219 million in the same period the previous year. Over that span, the company managed to narrow its net loss. The figure came in at $11.4 million ($0.17 per diluted share), compared with Q4 2011's shortfall of $13 million ($0.19).
For the full year, the top line was $803 million, an improvement over 2011's figure of $777 million. Annual net loss also narrowed, to $32.4 million ($0.47 per diluted share) against the previous year's $47.4 million ($0.71).
The apparel retailer also provided several pieces of forward guidance. The company believes it will post revenue of $160 million to $167 million and a per-share loss of $0.17 to $0.24. Both ranges are worse than analyst projections of $168 million and $0.13, respectively.
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