Key Developments For Pacific Sunwear of California Inc
Pacific Sunwear of California Inc (PSUN.O) (Nasdaq)
Pacific Sunwear of California, Inc. Issues Q4 2009 Earnings Outlook Below Analysts' Estimates; Comments On Q4 2009 Same Store Sales Outlook
Pacific Sunwear of California, Inc. announced that it expects same-store sales percentage decline in the low twenties for the fourth quarter of 2009, and to report a loss of approximately $(0.28) to $(0.35) per share. This earnings range includes estimated non-cash store asset impairment charges of approximately $5 million. According to Reuters Estimates, analysts on an average were expecting the Company to report loss per share of $0.12 for the same period.
Pacific Sunwear of California, Inc. Issues Q3 2009 EPS Outlook; Comment on Q3 2009 Same-Store Sales Outlook
Pacific Sunwear of California, Inc. announced that for the third quarter of 2009, assuming a same-store sales percentage decline in the high-teens to low twenties, and assuming non-cash, pre-tax store asset impairment charges of approximately $10 million, the Company would expect to report a loss of approximately $(0.16) to $(0.23) per share.
Pacific Sunwear of California, Inc. Lowers Q2 2009 Same-Store Sales and Earnings Guidance; Sees $5.5 Million Charges In Q2 2009
Pacific Sunwear of California, Inc. updated earnings expectations for the second quarter of 2009. Same-store sales for the second quarter are projected to decrease by approximately 24% versus original expectations of negative 17% to 20%. Additionally, the Company now expects to report a second quarter 2009 loss of $0.22-$0.24 per share versus initial guidance of a loss of $0.11-$0.17 per share issued on May 21, 2009. The Company expects to incur approximately $5.5 million in non-cash, store asset impairment charges during the second quarter 2009. These impairment charges are approximately $2.7 million, or $0.02 per share, higher than previously anticipated. According to Reuters Estimates, analysts were expecting the Company to report EPS of $(0.13) for the second quarter of 2009.
Pacific Sunwear of California, Inc. Names Gary H. Schoenfeld To Succeed Sally Frame Kasaks As President And Chief Executive Officer
Pacific Sunwear of California, Inc. announced that Gary H. Schoenfeld will become President and Chief Executive Officer of the Company, effective June 29, 2009. Mr. Schoenfeld will succeed Sally Frame Kasaks, who has served as CEO and as Chairman of the Board. Ms. Kasaks will remain a member of the Company's Board of Directors. The Company also announced that Lead Director Peter Starrett will assume the role of Non-Executive Chairman of the Board.
Pacific Sunwear of California, Inc. Issues Q2 2009 Earnings Outlook In Line With Analysts' Estimates; Comments On Q2 2009 Same Store Sales Outlook
Pacific Sunwear of California, Inc. announced that for the second quarter of 2009, assuming a same-store sales percentage decline in the range of 17% to 20%, the Company currently expects to report a loss of $(0.11) to $(0.17) per diluted share. According to Reuters Estimates, analysts on an average are expecting the Company to report loss per share of $(0.11) for the same period.
