Pacific Sunwwar Lowers Guidance on April Sales Decline - TheStreet

Pacific Sunwear

(PSUN)

reported a greater-than-expected fall in April same-store sales and said first-quarter earnings will trail expectations.

The casual clothes retailer said same-store sales dropped 6.7% and predicted it would earn 10 cents a share in the quarter, short of analysts' 13-cent forecasts. Analysts had been calling for unchanged April sales.

The stock was down 12% at $20.90 in the premarket session.

Among other retailers,

Urban Outfitters

(URBN) - Get Report

said first-quarter same store sales rose 18% and raised its earnings forecast for the quarter. The company expects to earn 22 cents to 25 cents a share.

Shoe Carnival

(SCVL) - Get Report

said same-store sales fell 11.3% in April, hurt by an early Easter, but added that better margins will result in higher quarterly earnings. The company forecast first-quarter earnings of 43 cents to 44 cents a share, up from 35 cents a year earlier.

Pier 1

(PIR) - Get Report

said April same-store sales rose a better-than-expected 9%. The company again raised first-quarter profit targets, this time to 20 to 21 cents per share, up from previously raised guidance of 18 to 20 cents per share.

Factory 2-U

( FTUS) said it expects to post a first quarter loss of 24 cents to 27 cents, wider than expected. The company cited a long-term consulting project for developing marketing and merchandising strategies and higher advertising expense.