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Pacific Sunwear of California Inc. (NASDAQ:PSUN) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.41%.
Pacific Sunwear of California Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.17 in the quarter versus EPS of $-0.19 in the year-earlier quarter.
Revenue: Rose 19.33% to $228.03 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Pacific Sunwear of California Inc. reported adjusted EPS loss of $0.17 per share. By that measure, the company missed the mean analyst estimate of $-0.16. It beat the average revenue estimate of $227.86 million.
Quoting Management: “2012 was a very solid year for PacSun with important progress in several key facets of our business. We achieved positive sales comps with better margins in every quarter for the first time since 2007, continued to leverage our cost base, and equally important is my belief that we are beginning to re-establish PacSun’s unique identity tied to great brands, on trend merchandising and our distinct connection to California Lifestyle,” said Gary H. Schoenfeld, President and Chief Executive Officer. “Looking ahead to this year our key priorities remain working closely with our key brands, attracting new customers and continuing to elevate both our in-store and on-line experience.”
Key Stats (on next page)…
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