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Pacific Sunwear of California Inc. (NASDAQ:PSUN) net sales increases by 2%

Boston, MA 05/24/2013 (wallstreetpr) – The share prices of Pacific Sunwear of California Inc. (NASDAQ:PSUN) increased by 9.93 percent to close at $3.21 for the last trading session, owing to the company’s announcement of first quarter results an issuance of second quarter guidance. The company is involved in the selling and distribution of beachwear apparels through it mall based retail stores. The stores of Pacific Sunwear of California Inc. (NASDAQ:PSUN) stocks beach inspired lifestyle apparels for men and women.

Results for first quarter, 2013

Pacific Sunwear of California Inc. (NASDAQ:PSUN) reported that the net sales of the company from its 638 retail stores had increased by 2 percent over the same quarter of previous fiscal year. The GAAP loss from continuing operations was reported to be $24.2 million which gets translated into $0.35 per basic and diluted share. On the other hand, the non GAAP loss for Pacific Sunwear of California Inc. (NASDAQ:PSUN) for the first quarter was reported to be $9.4 million which translates into $0.14 loss per basic and diluted share.

The strength of Pacific Sunwear of California Inc. (NASDAQ:PSUN) in the women’s business had led the company towards satisfying results for the first quarter, though the retailer started off the quarter with slow and sluggish growth. The shares of Pacific Sunwear of California Inc. (NASDAQ:PSUN) have a 52 week low price level of $1.31 per share and the 52 week high price level of $3.45 per share. The total number of shares outstanding for Pacific Sunwear of California Inc. (NASDAQ:PSUN) is 68.39 million and the average trading volume is 347,490 shares.

Published by Duncan Oleinic

Duncan Oleinic is from New Yourk. After graduating with a degree in physics, he began his career as an analyst in a broking firm. Through this experience he was able to advance to the role of correspondent for a U.S based financial news provider, where he worked from 2001 to 2007. He subsequently joined a merchant banking firm as a financial analyst focused on valuing unlisted companies in the sub-continent. Over the course of his two years here, he performed valuations of several media companies which were later acquired by peers.

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