By  on December 5, 2013

Pacific Sunwear of California Inc. posted third-quarter results Thursday after the markets closed.

The company said net income for the three months ended Nov. 2 was $17.2 million, or 23 cents a diluted share, from $948,000, or 1 cent, a year ago. Excluding the loss from discontinued operations a year ago, net income from continuing operations was $17.2 million versus $3.4 million last year. Net sales fell 4.1 percent to $206.6 million from $215.5 million, while comparable-store sales rose 1 percent.

Gary H. Schoenfeld, president and chief executive officer, said, “As we transition into the peak holiday season, we have had a strong start in November with comparable-store sales up 6 percent driven by a number of factors including: strength in our emerging brands and unique product assortment, colder weather and strong Black Friday performance.”

RELATED CONTENT: WWD Earnings Tracker >>

The company provided fourth-quarter non-GAAP guidance, projecting a diluted loss per share from continuing operations in the 17 cents to 12 cents range, on revenue expectations of between $216 million and $225 million. The company also forecasted a comps gain for the quarter at between 1 percent to 5 percent.

To access this article, click here to subscribe or to log in.

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus