Boston, MA 03/20/2014 (wallstreetpr) – After posting better-than-expected fourth quarter results, shares of Pacific Sunwear Of California, Inc. (NASDAQ:PSUN) got wings to fly and in the previous session, they flew to $3.11, up 3.67 percent, earlier on the day they were up 7 percent. The interesting story about this specialty sports retailer doesn’t stop with the gain in share price, instead, that is just indication that problems are reducing for the company.
Having known losses for the previous reporting, it was encouraging that loss narrowed greatly in the fourth quarter and fiscal 2013. The very fact the company managed to post results that exceeded the view of analysts suggests that the management is getting a lot things right of late.
Pacific Sunwear Of California, Inc. (NASDAQ:PSUN) reported earning loss of 17 cents per share in the fourth quarter. That was better than 18 cents loss that analysts modeled for the quarter. The latest loss remained flat to a year ago figure. In the full-year 2013, the specialty retailer posted 34 cents loss, better than the consensus estimate of 36 cents. The company ended fiscal 2012 with loss of 49 cents.
Sales in the fourth quarter came in at $218.6 million, exceeding the $214 million that analysts expected. However, the story was different for the full-year whereby sales came in at $797.8 million, missing the estimated figure of $806 million, but managing to stay up 1.7 percent over 2012 sales.
On a very positive note, it was encouraging for the company to report increase in same-store sales. Typically for retailers, same-stores sales are important growth indicator. Fourth quarter same-store sales were up 2 percent, marking the eighth consecutive quarter that the company posted positive same-store sales.
Pacific Sunwear Of California, Inc. (NASDAQ:PSUN) hopes to achieve revenue in the range of $160 – $174 million in the current quarter. And that should result in earnings or loss between $12 and $17 cents per share. Thus, looking at the reported figures and the expected performance, it is becoming clearer that the company is fast moving from solid grounds.