NEW YORK (TheStreet) -- Pacific Sunwear of California (PSUN), better known as PacSun, is gaining in extended trading after fourth-quarter revenue came in higher than anticipated and net losses were narrower than forecast.
After the bell, shares had added 6.7% to $3.20.
The teen apparel retailer recorded a net loss of 17 cents a share in the three months to January, 2 cents less than analysts surveyed by Thomson Reuters had expected.
Revenue of $218.59 million fell 4.1% on a year-over-year basis, but beat consensus by $5.11 million.
The three-month period to Feb.1 marked the eighth consecutive quarter of positive comparable-store sales. Comparable-stores sales climbed 2% over the fourth quarter.
"We continue to be encouraged by our positive momentum within a challenging retail environment throughout the year, marked by eight straight quarters of positive comparable store sales, sustained gross margins, and reduced operating costs, all contributing to a significant improvement in our operating performance compared to fiscal 2012," said CEO Gary H. Schoenfeld in a statement.
For its current quarter, management issued guidance for an adjusted loss of between 17 cents and 12 cents a share. Analysts had forecast a per-share loss of 12 cents.
Management also said it expects comparable-store sales between 1% and 4% and revenue in the range of $169 million and $174 million. Analysts had estimates for sales of $168.1 million.
"Looking ahead to fiscal 2014, our key priorities include showcasing our premium brand portfolio through curated assortments, managing inventory with on-trend fashion and speed to market, and continuing to elevate both our in-store and digital experience," added Schoenfeld.