PacSun sees 2Q sales growth
ANAHEIM, Calif. — Pacific Sunwear of California reported that net sales for the second quarter of fiscal 2012 ended July 28, were $210.3 million versus net sales of $200.9 million for the second quarter of fiscal 2011 ended July 30, 2011.
On a GAAP basis, the xompany reported a loss from continuing operations of $17.5 million, or 26 cents per share, for the second quarter of fiscal 2012, compared with a loss from continuing operations of $17.5 million, or 26 cents per share, for the second quarter of fiscal 2011.
"Our 5% comparable-store sales, 260 basis point increase in merchandise margins, and positive operating cash flow for the second quarter further demonstrate our belief that customers are beginning to rediscover PacSun, including our improved merchandising and brand mix, and our distinct Golden State of Mind brand identity," said Gary Schoenfeld, president and CEO. "Newer brands helped drive a 7% comps in our men's business, which represents our biggest increase in Men's since 2004. Women's continued to improve as well with a 2% comp and higher margins, and we also achieved a 15% increase in online sales."
For the third quarter, the company is expecting a non-GAAP net loss per share from continuing operations of between negative 8 cents and flat. Same-store sales are expected to be between negative 2% to plus 2%.