Orange County’s biggest clothing retailers recorded lower same-store sales results in May, with Anaheim-based Pacific Sunwear of California Inc. off 2.6% and Foothill Ranch-based Wet Seal Inc. down 8.3%.
U.S. retailers overall posted a 4.1% rise in same-store sales in May, according to the International Council of Shopping Centers-UBS.
Wet Seal had warned a few weeks ago that a decline was expected. Wet Seal had been posting solid same-store sales growth for the past year or so after a restructuring that shuttered more than 100 unprofitable stores.
The drop reflects “the tough comparisons to last year and an inventory shortage in fashion tops and dresses at the Wet Seal division,” said Chief Executive Joel Waller.
Wet Seal said that it expects a “mid single-digit decrease in comparable store sales” in June, versus a 59% gain a year ago.
Waller said same-store sales should be positive in July. Shares of the company were unchanged at $4.56 on Tuesday.
Pacific Sunwear, meanwhile, said same-store sales at its PacSun locations decreased 2.2%, versus a year earlier, while its d.e.m.o. unit saw a 5% drop.
Shares of Pacific Sunwear were off 5% to $20.92 after the sales announcement.
