Four specialty retailers posted fourth-quarter results on Thursday, with Pacific Sunwear of California Inc. the big loser as its quarterly profit dropped 42.3 percent.
The skate-and-surf-inspired chain said earnings for the period ended Feb. 2 fell to $5.2 million, or 7 cents a share, from $9.1 million, or 13 cents. Sales fell 7.8 percent to $420.1 million from $455.8 million, while total same-store sales decreased 2.2 percent. By division, comps at PacSun increased 2.1 percent, and declined 31 percent at the d.e.m.o. chain.
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