The forecasted first quarter non-GAAP net loss per share guidance range is based on the following assumptions:
• Same-store sales of negative 4% to plus 1%;
• Gross margin rate, including buying, distribution and occupancy, of 17% to 20%;
• SG&A expenses in the range of $59 million to $61 million; and
• A normalized annual income tax rate of approximately 37%.
The Company's first fiscal quarter of 2012 guidance range excludes the quarterly impact of the change in the fair value of the derivative liability due to the inherently variable nature of this financial instrument.
The Company's first fiscal quarter of 2012 earnings guidance excludes the quarterly impact of the change in the fair value of the derivative liability due to the inherently variable nature of this financial instrument.
Pacific Sunwear of California Inc. and its subsidiaries is a leading specialty retailer rooted in the action sports, fashion and music influences of the California lifestyle. The Company sells a combination of branded and proprietary casual apparel, accessories and footwear designed to appeal to teens and young adults.
Pacific Sunwear of California Inc
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