By  on May 18, 2012

Pacific Sunwear of California Inc. hasn’t quite turned the corner, but the Anaheim, Calif.-based action sports retailer’s first-quarter performance shows it might be on the right track.

In the three months ended April 28, PacSun’s net loss shrank to $15.6 million, or 23 cents a diluted share, from $28.7 million, or 43 cents a diluted share, a year ago. The adjusted loss was 20 cents a diluted share, 9 cents better than the 29-cent loss expected, on average, by analysts.

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