Restructuring retailer Pacific Sunwear of California Inc. posted a big quarterly loss Thursday, while another mall store operator, Wet Seal Inc., warned about slow sales for the current quarter.
For the quarter ended Aug. 4, Anaheim-based Pacific Sunwear said it lost $10.5 million, versus a profit of $9.7 million a year earlier.
Charges drove the loss. Excluding one-time costs to close about 75 demo stores selling urban fashions, Pacific Sunwear earned $4.8 million.
The profit after charges was in line with Wall Street expectations.
Revenue for the quarter rose nearly 10% to $344.2 million, above expectations.
“While elements of our efforts to improve the PacSun stores are showing progress, we still have a lot of work to do,” Chief Executive Sally Frame Kasaks said.
Pacific Sunwear runs mall stores selling surfwear, shoes and hip hop clothes.
The county’s other major mall retailer, Foothill Ranch-based Wet Seal, reported a higher quarterly profit but warned about the current quarter.
Wet Seal, which runs clothing stores for girls and young women, saw a profit of $6.8 million for the quarter ended Aug. 4, up 54% from a year earlier.
The profit was slightly ahead of Wall Street expectations.
Sales were $143.3 million, up 10% and in line with estimates.
The company warned about results for the current quarter, offering a forecast below what Wall Street had expected.
Sales at stores open at least a year could be flat to down 3% for the quarter, Wet Seal said.
Profits could be as much as $9.6 million, below Wall Street’s expected $10.5 million.
