PacSun (PSUN) Misses Q2 EPS by 4c, Q3 Guidance Falls Short

PacSun (NASDAQ: PSUN) reported Q2 EPS of ($0.06), $0.04 worse than the analyst estimate of ($0.02). Revenue for the quarter came in at $195.6 million versus the consensus estimate of $204.64 million. Comparable store sales for the second quarter of fiscal 2015 decreased 6%.

PacSun sees Q3 EPS of ($0.13)-($0.05), versus the consensus of ($0.02). PacSun sees Q3 revenue of $196-203 million, versus the consensus of $212.07 million.

the forecasted third quarter non-GAAP net loss per diluted share guidance range is based on the following assumptions:

• Comparable store sales from -6% to -3%;
• Net sales from $196 million to $203 million;
• Gross margin rate, including buying, distribution and occupancy, of 24% to 26%;
• SG&A expenses in the range of $55 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 PacSun (PSUN) click here.

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