Anaheim’s Pacific Sunwear of California Inc. saw sales at stores open at least a year rise 2.7% in September,beating Wall Street’s expectations,while the county’s other major mall retailer, Foothill Ranch-based Wet Seal Inc., saw a 7% drop that was slightly better than analysts’ lowered expectations.
The gain at Pacific Sunwear was driven by the company’s dominant PacSun surfwear chain, where September same-store sales rose 5.4%. That offset a 15.4% drop at its smaller demo chain, which sells urban-style clothes.
Analysts had expected an overall gain of 0.5% for all of the company’s stores.
Shares gained 6% on Wednesday on the news.
Wet Seal, which sells clothes for girls and young women, said business picked up late in the month and helped it come in slightly better than Wall Street’s forecast of an 8.1% drop.
Earlier this month, the company replaced a previous forecast of a 1% decline to a 3% rise in same-store sales with an expected drop of 7.5% to 8.5%.
The company also warned about third-quarter profits earlier this month.
Wet Seal’s shares ended up 4% on Wednesday.
