Anaheim-based mall retailer Pacific Sunwear of California Inc. warned of a wider than expected loss for the current quarter and said a key measure of sales was down for November and December.
Pacific Sunwear, which runs stores selling clothes inspired by surfing, skateboarding and snowboarding, said it expects an adjusted loss of $20 million to $22 million for the three months through January.
In November, Pacific Sunwear said it expected an adjusted loss of $4.6 million to $11.9 million.
Analysts on average had been expecting a loss of $7.3 million.
Pacific Sunwear blamed a slump in sales of clothes of girls and young women for “disappointing sales and merchandise margins for the holiday season,” Chief Executive Gary Schoenfeld said.
Same-store sales, or sales at stores open for at least a year, were down 7% in the past two months, the company said.
Pacific Sunwear is working on an ongoing turnaround under Schoenfeld, who has focused on big local brands such as Huntington Beach-based Quiksilver Inc. and Costa Mesa’s Volcom Inc.
The company joined a chorus of disappointing results and outlooks from retailers on Thursday.
Foothill Ranch-based mall clothing retailer Wet Seal Inc. reported a disappointing drop in December sales and warned that profits for the current quarter could come in at the low end of expectations.
For more on Wet Seal, see story here.
Nationally, retailers such as Target Corp., Macy’s Inc. and others were hurt from an East Coast blizzard and cautious, reluctant shoppers.
