Wednesday, March 14, 2012

Pacific Sunwear, (Nasdaq: PSUN) American Apparel (AMEX: APP) drop

Pacific Sunwear, (Nasdaq: PSUN) American Apparel (AMEX: APP) dropAustin, TX 3/14/12 (StreetBeat) -- Teen retailer Pacific Sunwear of California Inc. (Nasdaq: PSUN) shares tumbled 14% to $2.15 on Wednesday after the company projected a bigger-than-expected first-quarter loss and said comparable sales so far this quarter are tracking at the lower end of its forecast range. "Clearly the turn is not at hand," said Janney's analyst Adrienne Tennant.

American Apparel Inc. (AMEX: APP) dropped 5.9% to 96 cents a share. Its fourth-quarter loss narrowed to $11.2 million, or 11 cents a share, from $19.3 million, or 27 cents, a year earlier. Sales rose 9% to $157.6 million, including a 7% comparable-store sales gain. Gross margin narrowed to 53.2% from 55.6%. The S&P Retail Index XX:RLX +0.06% inched up 0.2%

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