Pacific Sunwear of California Inc. on Wednesday said it narrowed its fourth-quarter loss compared with a year ago.
For the three months ended Feb. 2, the loss narrowed to $19.9 million, or 29 cents a diluted share, from a loss of $38.1 million, or 56 cents, last year. Excluding onetime charges, the loss from continuing operations for the quarter was $11.4 million, or 17 cents a diluted share, compared with a loss from continuing operations of $13 million, or 19 cents, last year. Net sales rose 4.3 percent to $228.0 million from $218.7 million, while comparable-store sales rose 1 percent. Sales results for the fourth quarter of fiscal year 2012 are for a 53-week period, while the comps figure excludes the extra week.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"