PREMARKET WATCH: Pacific Sunwear (PSUN)

Posted in General 
July 23rd, 2009

Pacific Sunwear of California Inc. (Nasdaq: PSUN) shares fell more than 13 percent to $2.94 on after hours volume of more than 22,000 shares, among the busiest after-hours sessions for the stock this year. The clothing and accessories retailer guided EPS to an expected loss between 22 and 24 cents a share, lower than previous guidance, as well as analyst consensus of a loss of 13 cents. Same-store sales in the second quarter are expected to decrease by about 24 percent, down from the company’s original expectation a drop of 17 to 20 percent. The company added that it expects higher-than-anticipated impairment charges in the quarter — Mike Tarsala

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