Four specialty retailers posted fourth-quarter results on Thursday, with Pacific Sunwear of California Inc. the big loser as its quarterly profit dropped 42.3 percent.
The skate-and-surf-inspired chain said earnings for the period ended Feb. 2 fell to $5.2 million, or 7 cents a share, from $9.1 million, or 13 cents. Sales fell 7.8 percent to $420.1 million from $455.8 million, while total same-store sales decreased 2.2 percent. By division, comps at PacSun increased 2.1 percent, and declined 31 percent at the d.e.m.o. chain.
For the year, the chain lost $30.4 million, or 44 cents a share, as sales inched up 0.8 percent to $1.45 billion.
PacSun expects full-year earnings from continuing operations in the range of 73 to 77 cents a share, but expects to report a loss of 6 to 8 cents a share during the first quarter. The company previously said it was discontinuing its d.e.m.o. business.
Eddie Bauer swung to a fourth-quarter loss for the three months ended Dec. 29.
The retailer lost $18.2 million, or 59 cents a share, against a profit of $63.2 million, or $2.11, a year ago. Sales rose 2.7 percent to $392.4 million from $381.9 million, while total same-store sales grew 4.8 percent.
For the year, the loss narrowed to $101.7 million, or $3.33 a share, while sales grew 3 percent to $1.04 billion.
On the positive side, Aéropostale Inc. said for the three months ended Feb. 2, income rose to $64.7 million, or 95 cents a share, from $57.3 million, or 72 cents, in the same year-ago period. Sales grew 16.7 percent to $591.3 million from $506.8 million, while total same-store sales increased 9.2 percent.
For the year, income rose 21.1 percent to $129.2 million, or $1.73 a share, on a sales gain of 12.6 percent to $1.59 billion.
The company expects first-quarter earnings in the range of 20 to 22 cents a share, and for the year predicts earnings of $1.70 a share.
Despite slowness in sales in the second half of the year, action-apparel retailer Zumiez Inc. reported a 10.3 percent increase in fourth-quarter earnings.
For the three months ended Feb. 2, earnings reached $12.4 million, or 42 cents a share, from $11.3 million, or 39 cents, last year. Sales for the quarter rose 12.7 percent to $126.6 million from $112.4 million. Total same-store sales grew 4 percent.For the year, earnings rose 21.4 percent to $25.3 million, or 86 cents a share, on a sales gain of 27.9 percent to $381.4 million.
The company forecasts full-year guidance in the range of 90 to 93 cents a share.
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