Pacific Sunwear of California, Inc.

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  • Dec. 24, 2015, 7:29 AM
    • Traffic at physical stores fell 10.4% last weekend, according to RetailNext, while sales fell 6.7%. That's worse than the 8% drop in traffic and 5.8% decline in sales recorded from Nov. 10 through Dec. 14.
    • Source: WSJ
    • At least there's last minute shopping, but online retailing is making fast gains there as well. Naturally, this is testing the limits of delivery services, with chains including Eddie Bauer and Pacific Sunwear (NASDAQ:PSUN) warning customers of delays, noting broader issues at FedEx (NYSE:FDX).
    • FedEx is running 24/7 to “accommodate additional unforeseen volume from some customers,” but says its delivery network is performing as expected. UPS says it's running about 98% on time.
    • All this is pushing traditional retailers into deeper promotions, and to keep their stores open for even longer stretches leading up to Christmas Eve. Kohl's (NYSE:KSS) opened at 7 AM on Dec. 17 and won't close until more than 170 hours later at 6 PM ET tonight. At Gap's (NYSE:GPS) Old Navy, the entire store is up to 75% off through Dec. 28, Macy's (NYSE:M) is offering "after Christmas prices now," and Abercrombie & Fitch (NYSE:ANF) is discounting the entire store by 40-60%.
    • Online retailers, on the other hand,  "aren't playing the big promotion game as much," according to PwC.
    | Dec. 24, 2015, 7:29 AM | 8 Comments
  • Dec. 23, 2015, 5:41 PM
    • A few retailers are warning customers that their holiday packages are being delayed and blaming what they say are broader problems at FedEx (NYSE:FDX), according to a WSJ report.
    • Officials at Eddie Bauer and Pacific Sunwear (NASDAQ:PSUN) have said this week that FDX is experiencing a backlog that is "delaying standard shipments by several days or even weeks, [and] all online merchants are affected."
    • Other retailers, including Wal-Mart (NYSE:WMT), say their orders are shipping normally.
    • FDX says it is running operations around the clock to "accommodate additional unforeseen volume from some customers," but that its delivery network is “performing as designed for the forecasted volumes from our major retail and e-tail customers."
    • Industry consultants who work with retailers tell WSJ that the networks of both FDX and rival UPS appeared to be at capacity this week, and the companies were enforcing volume limits on some retailers.
    | Dec. 23, 2015, 5:41 PM | 24 Comments
  • Dec. 2, 2015, 4:10 PM
    • Pacific Sunwear of California (NASDAQ:PSUN): Q3 EPS of -$0.05 beats by $0.03.
    • Revenue of $205.92M (-3.0% Y/Y) beats by $7.95M.
    • Shares +11.1%.
    • Press Release
    | Dec. 2, 2015, 4:10 PM
  • Dec. 1, 2015, 5:35 PM
    | Dec. 1, 2015, 5:35 PM | 2 Comments
  • Nov. 25, 2015, 9:26 AM
    • The average price for a gallon of gas in the U.S. has now dropped to $2.06 per gallon - a mark that is 27% lower than where gas prices stood heading into the holiday period last year. Despite the extra dollars in the wallets of consumers, most forecasts for holiday retail sales are on the modest side (below 4%).
    • The extended period of sub-$3 gas prices in the U.S. hasn't exactly lit consumer spending across broad retail on fire (just ask Wal-Mart) - although it has stoked auto sales for the Detroit Three (GM, F, FCAU). The regional casino sector (ISLE, PENN, BYD, ERI, MTN, MCRI) and cruise line stocks (NCLH, RCL) have also benefited more than major chain stores. Some have suggested that lower gas prices are also an understated driver for Starbucks (NASDAQ:SBUX) and Netflix (NASDAQ:NFLX) which both score high on customer stickiness.
    • What next? Seeking Alpha's Stock Pitch Contest on retail is still open until November 30 amid the reset on consumer spending expectations. Current long ideas include PLAY, FRAN, CASY, SKX, WMT, PSUN, HGG, PRTY, TJX, TA, VSTO - while short bets on WMAR, TIF, RT, AMZN, UA, LB, and OUTR are on record.
    | Nov. 25, 2015, 9:26 AM | 49 Comments
  • Nov. 20, 2015, 11:47 AM
    • The S&P Retail ETF (NYSEARCA:XRT) is up 1.9% with apparel and footwear stocks doing much of the heavy lifting.
    • A vibrant rally in sports stocks was sparked by earnings reports and Nike. Iconix Brand (ICON +2.5%), G-III Apparel (GIII +3%), DSW (DSW +3.7%), Finish Line (FINL +3.1%), Caleres (CAL +2.2%), Genesco (GCO +3.5%), and Shoe Carnival (SCVL +1.7%) join the list reported on earlier.
    • Luxury names are on the move with Kate Spade (KATE +2%), Fossil (FOSL +2.9%), Coach (COH +1.4%), and Movado (MOV +2.7%) higher.
    • The beat-up mall retailer group is also recovering after results from Gap (GPS +6%) and Abercrombie & Fitch (ANF +19.4%) topped worst-case scenarios. American Eagle Outfitters (AEO +2.3%), Guess (GES +4.6%), and Pacific Sunwear (PSUN +5.4%) are notable gainers.
    • Big box retailers are the laggards today. Wal-Mart, Target (TGT +0.6%), and Costco (COST +0.6%) are right at market index averages.
    | Nov. 20, 2015, 11:47 AM | 2 Comments
  • Oct. 6, 2015, 8:16 AM
    • A new survey indicated 44% of online shoppers turn to first when searching for a product online. The level is much higher than what was found in previous studies.
    • Another 34% use Google and other search engines to being their shopping efforts, while only 21% begin their search directly on the website of a retailer.
    • The gains by Amazon in becoming the shopping portal for a higher percentage of consumers hits a wide variety of retailers - including Target (NYSE:TGT), Wal-Mart (NYSE:WMT), Staples (NASDAQ:SPLS), and Best Buy (NYSE:BBY) - on market share and pricing leverage. It's been particularly devastating to mall chains such as Aeropostale (NYSE:ARO), American Eagle Outfitters (NYSE:AEO), Buckle (NYSE:BKE), Pacific Sunwear (NASDAQ:PSUN), and Abercombie & Fitch (NYSE:ANF) which rely on impulse buying from in-store shoppers.
    | Oct. 6, 2015, 8:16 AM | 8 Comments
  • Sep. 21, 2015, 1:08 PM
    • Select specialty retailers are higher today as investors continue to speculate over which company will catch the interest of private equity firms looking at a go-private deal.
    • Zumiez (ZUMZ +3.9%), Buckle (BKE +1.7%), Francesca's Holdings (FRAN +2.2%), and Pacific Sunwear (PSUN +2.9%) are the names in the deal hopper. All four are sharply lower YTD to levels no wseen as attracting PE interest
    | Sep. 21, 2015, 1:08 PM | 4 Comments
  • Sep. 9, 2015, 7:54 AM
    • Pacific Sunwear of California (NASDAQ:PSUN) is down sharply following a FQ2 earnings miss and weak guidance.
    • Comparable-store sales declined 6% in FQ2 as key summer items such as shorts, swim gear, and sandals saw disappointing demand.
    • The company expects revenue of $196M to $203M in FQ3 vs. $212M consensus off a negative comp (-6% to -3%).
    • Previously: Pacific Sunwear of California misses by $0.04, misses on revenue (Sep. 08 2015)
    • PSUN -16.7% premarket to $0.50.
    | Sep. 9, 2015, 7:54 AM | 1 Comment
  • Sep. 8, 2015, 4:01 PM
    • Pacific Sunwear of California (NASDAQ:PSUN): FQ2 EPS of -$0.06 misses by $0.04.
    • Revenue of $195.62M (-7.6% Y/Y) misses by $9.02M.
    | Sep. 8, 2015, 4:01 PM
  • Sep. 7, 2015, 5:35 PM
    | Sep. 7, 2015, 5:35 PM | 6 Comments
  • Aug. 26, 2015, 9:41 AM
    • Pacific Sunwear (NASDAQ:PSUN) is up 22% in early trading after strong reports from Express and Abercrombie & Fitch give a lift to the mall retailer stock.
    • The company sits on a bankruptcy watch list amid earnings pressure.
    | Aug. 26, 2015, 9:41 AM
  • Jul. 20, 2015, 1:38 PM
    • A bold forecast from Cowen Research on Amazon has some deep implications for the broad retail sector if it proves accurate.
    • Cowen sees Amazon nabbing 14% of the U.S. apparel and accessories market by 2020, up from ~5% this year.
    • The Amazon Effect impacts retail companies differently depending on if they sell their brands on the Amazon website and at what prices. Chains that could see an impact from a higher level of apparel buying through Amazon include Macy's (NYSE:M), Dillard's (NYSE:DDS), J.C. Penney (NYSE:JCP), Aeropostale (NYSE:ARO), Abercrombie & Fitch (NYSE:ANF), L Brands (NYSE:LB), Kohl's (NYSE:KSS), Pacific Sunwear (NASDAQ:PSUN), and Zumiez (NASDAQ:ZUMZ). The trend also puts high-end sellers such as Kate Spade (NYSE:KATE) and Michael Kors (NYSE:KORS) in a tighter box on how to sell through Amazon.
    • A disturbing trend for Wal-Mart (NYSE:WMT) and Target (NYSE:TGT) is that a higher percentage of their customers also bought apparel through Amazon in the first half of 2015.
    | Jul. 20, 2015, 1:38 PM | 28 Comments
  • Jul. 16, 2015, 10:12 AM
    • Some popular momentum-driven retail stocks are starting off the day in reverse with Michael Kors (KORS -2.7%), Coach (COH -0.2%), Pacific Sunwear (PSUN -1.9%), Vera Bradley (VRA -3.3%), Fossil (FOSL -0.6%), Lululemon (LULU -0.6%), Kate Spade (KATE -0.4%) and Under Armour (UA -3.5%) all lower.
    • While OTR Global is with a fresh note on UA and KORS in which expectations are reeled in, pricing trends and China are also looming over the sector.
    | Jul. 16, 2015, 10:12 AM | 2 Comments
  • Jul. 14, 2015, 3:09 PM
    | Jul. 14, 2015, 3:09 PM
  • May 29, 2015, 12:46 PM
    | May 29, 2015, 12:46 PM | 2 Comments
Company Description
Pacific Sunwear, is a specialty retailer rooted in the action sports, fashion and music influences of California. It sells a combination of branded and proprietary casual apparel, accessories and footwear designed to appeal to teens and young adults.
Sector: Services
Industry: Apparel Stores
Country: United States