Anaheim-based retailer Pacific Sunwear of California Inc. posted a 2.7% drop in June same-store sales and warned second-quarter earnings would fall short of projections.
Orange County’s other major retailer, Foothill Ranch-based Wet Seal Inc., saw a 4% drop in June same-store sales, marking a reversal of the rebounding company’s big gains of the past year.
A year ago, Wet Seal reported a 59% rise in sales at stores open at least a year as it enjoyed a turnaround bounce.
At Pacific Sunwear, analysts had expected a 1% decline in June same-store sales. The company, which sells surf and hip hop inspired clothes at mall stores, has been struggling with fashion and merchandising missteps.
Same-store sales fell 2% at the company’s dominant PacSun surfwear chain and fell 8.5% at its smaller d.e.m.o. urban chain.
For the second quarter, Pacific Sunwear said it now expects to earn about $14 million, about 15% lower than what analysts had been expecting.
Wet Seal, which sells clothes for girls and young women at mall stores, said it expects a low single-digit same-store sales increase in July, versus a strong month a year ago.
