Pacific Sunwear Q2 comparable sales down 6 percent

Net sales at Pacific Sunwear of California , for the second quarter of fiscal 2015 ended August 1, 2015, were 195.6 million dollars versus 211.7 million dollars for the same quarter, last year. Comparable store sales decreased 6 percent. The company ended the second quarter with 608 stores versus 618 stores a year ago.

On a GAAP basis, the company reported net income of 8.3 million dollars, or 0.12 dollar per diluted share, compared to net income of 7.5 million dollars, or 0.10 dollar per diluted share for the second quarter of fiscal 2014. On a non-GAAP basis, excluding the non-cash gain on the derivative liability and assuming a tax benefit of approximately 3.3 million dollars, the company would have incurred a net loss of 4.4 million dollars, or 0.06 dollar per diluted share.