PacSun Sales Up, Loss Narrowed for YearMonday, March 31, 2014
Anaheim-based Pacific Sunwear of California Inc. took another step on the comeback trail with a gain in net sales and a narrowed loss for the year ended Feb. 1.
Net sales rose 2% to $797.8 million. The 618-store retail chain’s annual loss of $23.1 million was down from $33 million in red ink for the year-ago period.
Pacific Sunwear has been attempting a turnaround for several years. The results for the recent fiscal showed continued a general trend of improvement that began in 2012, when it laid out plans to close about 200 stores as part of a restructuring that took effect over a two-year period.
Pacific Sunwear shares were up about 3% in afternoon trading Monday to a market value of $202.67 million.