Same-store sales at mall retailer Pacific Sunwear of California Inc. fell as expected by Wall Street, while Wet Seal Inc.’s decline came in slightly better than expected.
Anaheim-based Pacific Sunwear, which sells clothes inspired by surfing and skateboarding, saw a 3% drop in sales at stores open at least a year.
That matched the decline analysts had been expecting.
Same-store sales at Foothill Ranch-based Wet Seal, which sells clothes for teen girls and young women, fell 2% last month, less than the 3% drop analysts had expected.
Both retailers are working on turnarounds and battling a slowdown that has hit retailers hard as shoppers cope with the weak economy and high prices for gas and other everyday expenses.
At Wet Seal, the company continues to see problems at its Arden B stores for young women.
The chain saw a 15% drop in same-store sales last month.
The company’s dominant Wet Seal chain for teen girls was up 1.8%.
Wet Seal’s shares were flat in early New York trading with a market value of $440 million.
Shares of Pacific Sunwear were up about 5% on a market value of $615 million.
The company’s same-store sales should improve in the next two months, said analyst Mitch Kummetz of & Robert Baird & Co.
