NEW YORK — Capitalizing on strong sales in its young women’s and accessories divisions, Pacific Sunwear of California delivered a 79 percent increase in its third-quarter net income.
The Anaheim, Calif.-based specialty retailer, which has been reporting stronger sales growth than most of its teen-targeted peers, reported income of $15.9 million, or 48 cents a diluted share, in line with raised consensus estimates, for the three months ended Nov. 2. In the year-ago quarter, income reached $8.9 million, or 27 cents a share. Sales for the quarter rose 24.7 percent to $228.2 million. Comparable-store sales increased 11.7 percent, with PacSun up 11.6 percent and Demo up 12.5 percent.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)