Pacific Sunwear of California Inc.: The Santa...

Pacific Sunwear of California Inc.: The Santa Ana retailer of young men’s apparel reported a profit of $852,000, or 16 cents a share, for its third fiscal quarter. That was down 14% from earnings of $996,000, or 29 cents a share, for the same period a year earlier. The company attributed the decline to a higher income-tax rate. Sales for the quarter ended Oct. 31 were up 20%, to $14.5 million from $12.1 million. For the fiscal year to date, the company’s profit declined 14% to $1.8 million, or 35 cents a share, from $2.1 million, or 67 cents a share. Nine-month sales rose 18% to $38 million from $32.2 million.