Surf and teen apparel companies had a good day on Wall Street Wednesday.
Shares of Anaheim-based retailer Pacific Sunwear of California Inc. rose 8% to $28.5 after reporting fourth quarter net income that beat estimates on Tuesday evening.
PacSun also posted same-store sales growth of 10.7% in February. That beat analysts’ estimates.
Meanwhile, Huntington Beach-based surfwear maker Quiksilver Inc. saw its shares rise 5% to $33.4 on Wednesday.
Quiksilver got a boost when an analyst with Pacific Growth Equities raised his rating on the company to “equal weight” from “underweight.”
The analyst, Andy Graves, said he’s seeing teenagers’ interest in surfwear continuing to grow. Quiksilver’s DC Shoes unit also is seeing strong sales, Graves said in a report.
Even struggling Wet Seal Inc. of Foothill Ranch had a good day, with its shares up 4% to $3.11. Wet Seal is under way with a plan to shutter hundreds of stores and restructure its finances.
The Dow Jones Industrial Average was off 0.17% to 10,811.97 Wednesday, with the S & P; 500 index down 0.03% to 1,210.08.
