Orange County’s two mall store operators took different paths Tuesday on Wall Street, where hopes of better-than-expected holiday sales drove many retailers.
Shares of Anaheim-based Pacific Sunwear of California Inc., which runs stores selling clothes inspired by surfing and skateboarding, closed up more than 3% on a market value of $275 million.
The company was up along with others as investors bet on good sales figures from retailers this week.
On Wednesday and Thursday, several retailers are expected to report same-store sales measuring sales at stores open at least a year.
Same-store sales rose 2.5% for the week through Saturday, according to the International Council of Shopping Centers and Goldman Sachs Group Inc.
That led the council, a trade group, to up its December sales growth estimate to 2.5% from 2%.
The county’s other mall retailer, Foothill Ranch-based Wet Seal Inc., saw its shares drop Tuesday.
The seller of clothes for teen girls and young women closed down 5% on a market value of $300 million.
There was no news specific to Wet Seal, though the company could have fallen along with City of Industry-based Hot Topic, which was off 7% on a value of $260 million.
Analysts Tuesday speculated that Hot Topic had to do a lot of discounting over the holidays and that same-store sales could come in lower than expected.
