USA: PacSun Enjoys Big Sales Jump
Casual clothing retailer Pacific Sunwear of California Inc on Tuesday posted a big jump in first quarter net profit on the back of a 17.4 per cent year-on-year rise in sales to $161.7 million.
The Anaheim-based company said net income was $3.3m, or 10 cents a share, compared to $1m, or three cents per share, in 2001 which included a one-off charge of $3.5m, or 11 cents per share.
Same store sales increased 0.6 per cent, while PacSun same store sales rose 1.2 per cent and d.e.m.o. same store sales down 3.7 per cent. The firm runs a total of 749 stores in the US and Puerto Rico.
Companies: Pacific Sunwear of California Inc
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