A running slump at mall retailers Pacific Sunwear of California Inc. and Wet Seal Inc. continued in September as sales at stores open at least a year fell.
Anaheim-based Pacific Sunwear, which sells clothes inspired by surfing and skateboarding, saw same-store sales fall 5% last month versus a year earlier.
But the company did better than analysts had expected. On average, Wall Street forecast a 7.3% decline.
Total sales for Pacific Sunwear for the month through Oct. 4 were $91.2 million, down 4% from a year earlier.
The company said it saw a big drop in sales in California, Florida and the Southwest.
Pacific Sunwear warned that earnings for the three months through October stand to come in at the low end of its previously announced guidance range of break-even to $3.3 million.
On average, analysts expect a profit of $1.3 million on sales of $317.1 million for the quarter.
Foothill Ranch-based Wet Seal, which sells clothes for girls and young women, reported a September same-store sales decline of 7.5%.
Analysts had been looking for a drop of 7.3%.
The company’s struggling Arden B chain for young women continues to impact overall same-store sales.
Arden B stores fell 22% last month, while the company’s dominant Wet Seal chain was off 3%.
Some analysts think the company could end up selling or closing Arden B.
The company held to its profit forecast for the three months through October.
Wet Seal forecasts a profit of $4.8 million to $6.7 million for the quarter. Analysts on average expect $5.7 million.
