E-commerce grows but not much else for Pacific Sunwear in Q2
September 3, 2014 10:56 AM
E-commerce was a bright spot in an otherwise flat second quarter for youth apparel chain retailer Pacific Sunwear of California Inc.
For the second quarter ended Aug. 2, Pacific Sunwear, No. 306 in the Internet Retailer 2014 Top 500 Guide reported:
- E-commerce represented 6% of total sales and increased year over year 9%. Based on total sales of $211.7 million, Internet Retailer estimates Pacific Sunwear generated web sales of $12.7 million. The company didn’t break out web sales or e-commerce as a percent of total sales for the prior year.
- Total sales increased year over year 0.8% to $211.7 million from $210.1 million.
- Comparable-store sales increased 0.3%.
- Net loss was $7.5 million compared with a loss of $19.2 million in the prior year.
“We remain keenly focused on differentiating and elevating Pacific Sunwear to appeal to our trend and style savvy 17- to 24-year-old guys and girls,” CEO Gary Schoenfeld told Wall Street analysts on the second quarter earnings call.
For the first two quarters:
- E-commerce sales totaled $24.5 million and accounted for 6.4% of total sales. The company didn’t break out web sales for the prior year.
- Total sales increased year over year 1.7% to $382.9 million from $376.4 million.
- Net loss was $2.9 million compared with a net loss of $43.4 million in the prior year.
Also in the second quarter Pacific Sunwear announced the departure of a senior executive. On July 31 Christine Smith resigned as the senior vice president of women’s merchandising and design. In the interim the job is being filled by vice president of women’s designs Brieane Breuer, the retailer says.