Pacific Sunwear of California (PSUN) is expected to report Q2 earnings after the market close on Thursday, August 20 with a conference call scheduled for 4:45 pm ET.
Analysts are looking for a loss of (23c) on revenue of $240.41M. The consensus range is (24c)-(16c) for EPS, and revenue of $222.04M-$247M, according to First Call. On July 22 the company lowered its Q2 EPS guidance to (24c)-(22c) from (17c)-11c on a bigger than expected same-store sales drop of 24%, down from prior guidance of a 17%-20% decline.
Despite the negative pre-announcement, Pali Capital analyst Amy Noblin said recent checks in California, where PacSun has been hurt by declining mall traffic, "indicate a material pick-up" in trends. She said PacSun's re-expansion into accessories will likely prove to be positive for the company's results. Analysts and investors will listen for comments from new CEO Gary Schoenfeld, who previously served as president and CEO of Vans and replaces Sally Frame Kasaks. Noblin said of Schoenfeld, "We wouldn't be surprised to see a shift from corporate-centered to store-centered."