Pacific Sunwear Reports Record Sales, Net Income for 3rd Quarter
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Pacific Sunwear of California Inc., Anaheim retailer of casual apparel, accessories and footwear, posted record net income and sales for the third quarter.
The company said it earned $12.3 million, or 38 cents a share, for the three months ended Oct. 31, up 52% from $8.1 million, or 25 cents a share, posted a year ago. Sales increased 35% to $124 million.
Sales at stores open at least a year, a key indicator of performance in the industry, increased 6.8% in the third quarter, the company said.
The financial results were released after U.S. markets closed Monday. The stock, which has nearly tripled this year, moved up 56 cents a share to $30.69 in Nasdaq trading.
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