bathed in strong third-quarter demand, posting a 30% jump in earnings Monday that beat Wall Street's estimates.
The teen clothing retailer reported earnings of $31.9 million, or 42 cents a share, for the quarter, up from last year's $24.5 million, or 31 cents a share. Analysts were expecting earnings of 40 cents a share, according to Thomson First Call.
The Anaheim, Calif.-based retailer said its operating margin increased to 15.5% from 14% in the same quarter last year, and its sales rose 17% to $329.1 million. Same-store sales, or sales at stores open at least one year, rose 6.6% for the quarter, with its PacSun same-store sales up 6.8% and the d.e.m.o. unit's same-store sales up 4.8%.
For the fourth quarter, the company reiterated its previous guidance for earnings of 52 cents a share, and for the full-year it expects earnings of $1.36 a share, one penny above Wall Street's current consensus estimate.
Pacific Sunwear operates 734 PacSun stores, 84 PacSun outlet stores and 159 d.e.m.o. stores throughout the U.S. and Puerto Rico. Its shares closed down 10 cents, or 0.4%, to $23.90 on Monday.