Pacific Sunwear Meets Street 2Q Forecasts

MarketsAssociated Press

Pacific Sunwear of California Inc. (NASDAQ:PSUN) on Thursday reported fiscal second-quarter earnings of $7.5 million.

The Anaheim, California-based company said it had profit of 10 cents per share. Losses, adjusted for non-recurring gains, came to 3 cents per share.

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The results met Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was also for a loss of 3 cents per share.

The teen clothing retailer posted revenue of $211.7 million in the period, surpassing Street forecasts. Analysts expected $207.2 million, according to Zacks.

For the current quarter ending in October, Pacific Sunwear said it expects revenue in the range of $203 million to $208 million.

At the close of trading on Thursday, Pacific Sunwear shares were trading at $2.30. A year ago, they were trading at $3.54.