Pac Sunwear Forecasts Lower Profit

Pacific Sunwear of California Inc., a retailer of casual clothes and accessories, said it will have lower-than-expected profits in the fiscal third and fourth quarters after sales fell in September.

The Anaheim company said it will earn 25 cents to 27 cents a share in the third quarter and 33 cents to 37 cents in the fourth. It was expected to earn 33 cents and 41 cents in those periods, according to a survey of analysts by Thomson Financial/First Call.

Business has picked up since the Sept. 11 terrorist attacks, but September sales were “significantly below” expectations, and lower consumer confidence probably will dampen sales this month and the fourth quarter, the company said.

Sales in September fell 6.1% from a year earlier, the company said. Same-store sales, or sales at stores open at least a year, decreased 7.1%. Same-store sales are an important retail indicator because they exclude results from new or closed stores.

The company’s stock fell 21 cents to $14.29 on Nasdaq. The shares have fallen 44% this year.