Reuters
Mar 14, 2010
PacSun fourth quarter tops Street, weak first quarter view drags on shares
Reuters
Mar 14, 2010
March 11 (Reuters) - Teen-clothing retailer Pacific Sunwear of California Inc (PSUN.O) posted a smaller-than-expected fourth-quarter loss, but forecast a weak first quarter, sending its shares down 9 percent after the bell.
![]() Pacific Sunwear for girls |
For the first quarter, the Anaheim, California-based company expects an adjusted loss between 32 cents to 38 cents a share, while analysts were expecting a loss of 14 cents a share.
In the fourth quarter, PacSun lost $36 million, or 56 cents a share, compared with $27 million, or 42 cents a share, in the last year.
However, on an adjusted basis, the company lost 26 cents a share.
Revenue fell 17 percent to 293 million.
Analysts, on average, were expecting the company to post a loss of 29 cents, on revenue of $277.4 million.
Shares of the company were trading down at $5.06 after market. They had closed at $5.75 Thursday 11 March on Nasdaq. (Reporting by Nivedita Bhattacharjee in Bangalore; Editing by Jarshad Kakkrakandy)
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