By TIFFANY MONTGOMERY
Here are a few highlights from Pacific Sunwear’s earnings release this afternoon. More details to come from conference call.
Q4 results
Sales: down 17% to $293 million
Same store sales: down 19%
Net loss, excluding charges: $17 million vs. $27 million
Net loss, including charges: $36 million vs. 27 million
Cash: Ended quarter with $93 million in cash and no borrowings
2009 results
Sales: down 18% to $1 billion
Same store sales: down 20%
Net loss, excluding charges: $51 million vs. $39 million
Net loss, including charges: $70 million vs. $39 million
Q1 forecast
Same store sales: down 13% to 18%.
Gross margins: 19% to 21% vs. 27% the same period last year
Net loss: 50 cents to 60 cents per share. Excluding tax issues, a net loss of 32 cents to 38 cents.
The company is expecting same store sales will improve throughout the year.
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