Anaheim-based mall retailer Pacific Sunwear of California Inc.’s bounced back with 6.4% increase in May same-store sales, prompting the company to affirm its guidance for the second quarter.
Pacific Sunwear, which sells surfwear and hip hop clothes, saw May sales at stores open at least a year jump 7.4%, while sales at its hip-hop fashion store, demo, fell 2.6%.
The retailer’s been working on a turnaround. It wrapped up shuttering 74 underperforming demo stores last month. May sales for demo didn’t include the impact of stores closed.
The company said due to a more promotional May, it expects to meet guidance for the second quarter. Earnings are expected to come in at $11.8 million to $13.3 million, excluding charges for shuttering the demo stores.
The retailer recently named Sally Frame Kasaks its permanent chief executive. Kasaks had been the interim chief, leading an on-again, off-again turnaround at Pacific Sunwear.
Meanwhile, Foothill Ranch-based Wet Seal Inc., the county’s other major mall retailer, saw May same-store rise a slight 1.9%.
The slight gain fell within the retailer’s guidance of a low single digit increase.
Wet Seal, which sells clothes for girls and young women, said it expects another low single digit increase in same-store sales for June.
