This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Pacific Sunwear Of California Management Discusses Q1 2012 Results - Earnings Call Transcript

Your speakers today are Gary Schoenfeld, Chief Executive Officer; and Michael Kaplan, Chief Financial Officer. [Operator Instructions]

Before I turn the call over to Gary, I'd like to note the statements and discussions during today's call will contain forward-looking information about our future financial performance and prospects. Our actual results could differ materially from those contained in our forward-looking statements. Risks and uncertainties that could cause our business and financial results to differ materially from those in the forward-looking statements are included in our Fiscal 2011 Form 10-K and in subsequent filings we made with the SEC, as well as in the earnings press release we issued today.

These documents can be found in the Investor Relations website -- section on our website at pacsun.com. All information discussed on the call is as of today, May 17, 2012. PacSun undertakes no duty to update this information to reflect future events or circumstances.

This call, the webcast and its replay are the property of Pacific Sunwear. It is not for rebroadcast or use by any other party without the prior written consent of PacSun. With that said, I'll now turn the call over to Gary.

Gary H. Schoenfeld

Thank you, Craig. Good afternoon, and thank you all for joining us today. I'm pleased to say that we experienced a significant improvement in our business since the time of our last conference call, which resulted in sales for the first quarter at the high end of our guidance and gross margins and non-GAAP EPS that exceeded the high end of our range.

Sales from continuing operations for the first quarter were $174 million this year versus $172 million last year, and our first quarter operating loss was reduced by nearly $10 million compared to a year ago.

Specific highlights for the quarter included: positive comp of 1% in both men's and women's; 160 basis point improvement in merchandise margins; lower occupancy costs and SG&A expenses, both at absolute dollars and as a percentage of sales; and lower inventory compared to a year ago.

2 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,177.47 -197.29 -1.20%
S&P 500 1,923.66 -27.47 -1.41%
NASDAQ 4,688.17 -45.3270 -0.96%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs