Pacific Sunwear net sales up 9 percent, updates Q4 guidance

Pacific Sunwear of California said that its comparable store net sales during the month of December increased 9 percent compared to the same period a year ago.

“We have had an excellent Holiday season with strong sales performance in both men's and women's and an estimated 400-500 basis point improvement in gross margins,” said Gary H. Schoenfeld, President and Chief Executive Officer.

Based on December results, the company has updated its financial outlook for the fourth quarter of fiscal 2014 and now expects comparable store net sales of approximately 6 percent and non-GAAP loss from continuing operations per diluted share to be in the range of 0.12 dollars to 0.11 dollars, compared to its previous guidance range of 0.17 dollars to 0.12 dollars. The company reported a non-GAAP loss from continuing operations per diluted share of 0.17 dollars for the fourth quarter of fiscal 2013.