Pacific Sunwear’s Quarterly Results Unchanged

Anaheim apparel retailer Pacific Sunwear of California Inc., emerging from a “challenging” second quarter, posted flat income.

The company, which sells casual apparel for teens and young adults, said net income totaled $7.4 million, or 23 cents a share, compared with $7.3 million, or 23 cents a share, in the second quarter last year. The quarterly per-share results matched analysts’ estimates.

The outlook was gloomier early last month, when Pacific Sunwear warned that it probably would fall short of expectations because of sluggish sales in the fickle teen market. But business picked up in July.

Sales for the quarter ended July 30 rose 31% to $132 million. Sales at stores open at least a year--a key indicator of performance in the industry--fell 1%.

The results were disclosed after the close of U.S. markets. The stock, which has lost 40% of its value this year, closed at $19.13, up 44 cents a share, in Nasdaq trading.