The county’s two teen retailers posted June sales growth that bested what Wall Street was expecting.
Anaheim-based teen retailer Pacific Sunwear of California Inc. said stores open at least a year saw sales grow 4.5% in June, beating analysts’ projection of 3.5% growth.
Foothill Ranch-based Wet Seal Inc., another teen retailer, continued its rebound last month with a 59% rise in same-store sales. That also came in above the views of analysts, who expected 56% growth.
Even with the better showing, PacSun’s growth marks a continued slowing from the double-digit same-store sales gains of the past couple of years. PacSun sells surf-inspired clothes and urban wear at some 1,000 stores nationwide.
PacSun’s total sales for the five weeks ended July 2 were $120.6 million, up 14.5% from a year earlier.
The retailer plans to debut a third chain of stores late next year in a bid to boost growth.
PacSun’s shares fell 3% to $23.4 in trading Thursday.
Wet Seal, which sells clothes for girls and young women, is working to right itself after a series of stumbles in the past two years.
Total sales for June came in at $49.2 million, up 23% from a year ago.
For the year, same-store sales are up 42%. For the same period last year, Wet Seal saw same-store sales fall 14%.
Shares of Wet Seal were down 4% to $6.7 Thursday.
