Pacific Sunwear Loss Narrower Than Estimates; Q1 Outlook Weak

(RTTNews) - Pacific Sunwear of California Inc (PSUN) on Wednesday reported fourth-quarter net loss of $26 million or $0.38 per share compared with a loss of $22.5 million or $0.33 per share last year.

Excluding items, adjusted loss for the quarter was $0.10 per share compared with a loss of $0.17 per share a year ago.

Revenues for the quarter were higher at $231.6 million compared with $218.6 million in the prior year.

Analysts polled by Thomson Reuters estimated a loss of $0.11 per share on revenues of $229.5 million for the quarter. Analysts' estimates typically exclude special items.

Comparable store sales for the quarter were up 6%.

For the first quarter, the company expects adjusted loss of $0.14 to $0.11 per share on revenues of $167 million to $173 million. Analysts expect a loss of $0.08 per share on revenues of $172.2 million.

The company said its guidance reflects the disruption at the Southern California ports as well as harsh winter weather.