Pacific Sunwear Expects 38% Earnings Gain
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Pacific Sunwear of California Inc. said Monday it expects to report first-quarter earnings of 18 cents a share, which would be in step with analysts’ expectations and would be a 38% jump over earnings in the same period last year.
The Anaheim retailer, which sells beachwear and skate clothes for teens and young adults, said sales for the three months ended in April rose to $112.6 million, up 38.3% over the same period last year. Sales at stores open at least a year, a key industry indicator, rose 7% for the quarter.
The company’s stock closed Monday at $35.81, up $1.75 a share, in Nasdaq trading.
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