Shares of Anaheim-based Pacific Sunwear of California Inc. jumped Thursday after the struggling mall retailer reported its best same-store sales in months.
Pacific Sunwear said sales at stores open at least a year rose 14% for the five weeks through April 7. The gain smashed analysts’ expectations of about 3% growth.
Same-store sales “were positive in all regions with the greatest strength in California,” Chief Financial Officer Gerry Chaney said in a recorded call.
In February, Pacific Sunwear saw a worse-than-expected 5.7% drop in same-store sales, the latest in a running decline.
Through April 7, sales at the company’s dominant PacSun surfwear stores rose 16%, Pacific Sunwear said.
Sales at its smaller demo chain selling urban styles were up 4%
