Home / Knowledge / News / Apparel/Garments / Pacific Sunwear comparable store Q1 FY'13 sales up 2%
Pacific Sunwear comparable store Q1 FY'13 sales up 2%
23
May '13
Pacific Sunwear of California, Inc. announced that net sales from continuing operations for the first quarter of fiscal 2013 ended May 4, 2013, were $169.8 million versus net sales from continuing operations of $162.3 million for the first quarter of fiscal 2012 ended April 28, 2012. Comparable store sales for the first quarter of fiscal 2013 increased 2%. The Company ended the first quarter of fiscal 2013 with 638 stores.

On a GAAP basis, the Company reported a loss from continuing operations of $24.2 million, or $(0.35) per diluted share, for the first quarter of fiscal 2013, compared to a loss from continuing operations of $15.2 million, or $(0.22) per diluted share, for the first quarter of fiscal 2012.

The loss from continuing operations for the Company's first quarter of fiscal 2013 included a non-cash loss of $9.3 million, or $(0.13) per diluted share, compared to a non-cash gain of $6.3 million, or $0.09 per diluted share, for the first quarter of fiscal 2012 related to a derivative liability that resulted from the issuance of the Convertible Series B Preferred Stock (the "Series B Preferred") in connection with the term loan financing the Company completed in December 2011.

On a non-GAAP basis, excluding store closure related charges of $0.2 million and the non-cash loss on the derivative liability of $9.3 million, and using a normalized annual income tax rate of approximately 37%, the Company would have incurred a loss from continuing operations for the first quarter of fiscal 2013 of $9.4 million, or $(0.14) per diluted share, as compared to a loss from continuing operations of $13.5 million, or $(0.20) per diluted share, for the same period a year ago. The 53rd week retail calendar shift contributed $0.03 per share of the $0.06 per share improvement compared to last year.

"After a slower than expected start to the spring selling season, we are pleased with our overall first quarter performance which was led by strength in our women's business," said Gary H. Schoenfeld, President and Chief Executive Officer.

"This marks our fifth consecutive quarter of positive comps since affecting our real estate restructuring at the end of fiscal 2011. We believe our results continue to validate our core turnaround strategies tied to great brands, on-trend merchandising and re-establishing PacSun's distinct identity through the creativity, diversity and optimism of the California lifestyle."

Pacific Sunwear


Must ReadView All

Coats acquires yarn manufacturer Patrick Yarn Mill

Textiles | On 12th Dec 2017

Coats acquires yarn manufacturer Patrick Yarn Mill

Coats, the world’s leading industrial thread manufacturer, has...

India’s garment imports from Bangladesh up 56% post-GST

Apparel/Garments | On 12th Dec 2017

India’s garment imports from Bangladesh up 56% post-GST

India has imported $87.4 million worth of readymade garments from...

Courtesy: Badger Sportswear

Apparel/Garments | On 12th Dec 2017

Badger Sportswear acquires Alleson Athletic

Badger Sportswear, a leading manufacturer of athletic apparel and...

Interviews View All

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search