Anaheim-based Pacific Sunwear of California Inc. posted same-store sales gains in September, beating Wall Street estimates and sending the surfwear retailers’s shares higher.
The company said Thursday that its same-store sales rose 5.3% in the period. A month earlier, PacSun had disappoined investors with a 2.6% sales gain, which fell below Wall Street estimates and sent its shares lower.
The retailer operates two chains, with its PacSun same-store sales rising 5.5% in September and its urban d.e.m.o. sales increasing 4%.
Pacific Sunwear also backed its forecast of 15% to 20% net income growth for the year ending Jan. 28. Shares of PacSun were up 7.6% to $23.96.
Meanwhile, Foothill Ranch-based Wet Seal Inc. said its same-store sales rose 44.9% in September, compared with an 8% decline a year ago.
Wet Seal, which closed more than 100 unprofitable stores and revamped its management during the past year, said it opened two Wet Seal stores and one Arden B. store in September.
Shares of the teen retailer were down 1.7% to $4.55.
