Pacific Sunwear Profit Rises 19% on Solid Sales
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Pacific Sunwear of California Inc. said its fiscal fourth-quarter earnings rose 19%, helped by solid sales of its surfing and hip-hop-themed fashions at its two retail chains.
The Anaheim firm said its net income for the quarter ended Jan. 29 rose to $40.9 million, or 54 cents a share, from $34.5 million, or 43 cents, a year earlier. Analysts surveyed by Thomson First Call had expected the company to earn 53 cents a share.
Sales rose 16% to $379.7 million, the company said.
Shares of the company rose 70 cents to $26.46 on Nasdaq.
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