NEW YORK — Benefiting from sales in its female apparel and accessories businesses, Pacific Sunwear of California turned up the teen heat as first-quarter income swelled 144.5 percent.
The Anaheim, Calif.-based sun-and-sand-oriented teen retailer said late Monday that for the three months ended May 3, net income rose to $8 million, or 16 cents a diluted share, 2 cents ahead of Wall Street’s average estimates. In last year’s quarter, the retailer’s profits were $3.3 million, or 7 cents. Total sales for the quarter surged 22.6 percent to $198.3 million over $161.7 million, while overall comps increased 13.2 percent.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"