Pacific Sunwear Reports Record Sales, Net Income for 3rd Quarter

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.