PacSun Warns of Storm Clouds Ahead in its Second Quarter

PacSun managed to shake off the retail blues in its first quarter, beating analysts' bottom-line estimates and posting its ninth consecutive quarter of comparable sales growth.
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PacSun managed to shake off the retail blues in its first quarter, beating analysts' bottom-line estimates and posting its ninth consecutive quarter of comparable sales growth. The SoCal-style retailer recorded a net loss of 11 cents a share, 2 cents narrower than what analysts had forecast. Revenue climbed 2.9% to $171 million, while comparable-store sales jumped 3%. However, fierce competition in retail and underperformance in its women's brands has management warning of a cautious second quarter. The company expects to swing to a net loss of at least 2 cents a share compared to profits of 2 cents a share in the year-ago quarter.