Anaheim-based Pacific Sunwear of California Inc., which operates a chain of 727 stores throughout the U.S. and Puerto Rico, posted a narrowed second-quarter loss of $5.8 million amid continuing turnaround efforts.
The action-sports retailer, which reported financial results Aug. 22, saw $11.1 million in quarterly red ink a year earlier.
Wall Street consensus had forecast an $8.1 million loss for the latest quarter.
Pacific Sunwear reported a 5% rise in quarterly revenue from a year earlier to $210.3 million.
Analysts on average had expected $203.2 million in quarterly revenue.
Same-store sales rose 5% in the quarter, including increases in both the men’s and women’s divisions.
Pacific Sunwear began closing up to 200 underperforming stores last year as part of a turnaround strategy.
The quarter’s results showed “improved merchandising and brand mix,” Chief Executive Gary Schoenfeld said.
The company said it expects same-store sales down as much as 2% to up as much as 2% for the October quarter.
The company issued bottom-lined guidance for the third quarter ranging from break even up to a loss of $5.4 million. There was no quarterly revenue guidance.
Analyst consensus projects a loss of $2.71 million on $227.9 million in sales.
—Kari Hamanaka
