Pacific Sunwear (PSUN) Misses Q1 EPS by 1c, Offers Q2 Guidance

Pacific Sunwear (NASDAQ: PSUN) reported Q1 EPS of ($0.12), $0.01 worse than the analyst estimate of ($0.11). Revenue for the quarter came in at $166.5 million versus the consensus estimate of $170.26 million. Comparable store sales for the first quarter of fiscal 2015 decreased 2%.

Pacific Sunwear sees Q2 2015 EPS of ($0.05)-$0.01, versus the consensus of ($0.01). It sees net sales of $201-$209 million vs $214.18 million.

• Comparable store sales from -4% to flat;
• Gross margin rate, including buying, distribution and occupancy, of 27% to 29%;
• SG&A expenses in the range of $54 million to $56 million; and
• Applicable non-GAAP adjustments are tax effected using a normalized annual income tax rate.

For earnings history and earnings-related data on Pacific Sunwear (PSUN) click here.

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