Pacific Sunwear Sees 33% Drop in Profit
- Share via
ANAHEIM — Pacific Sunwear of California Inc., which sells casual apparel, accessories and footwear, posted a 33% drop in profit in the last fiscal year while sales rose 32%.
Net income fell to $2.6 million, or 49 cents a share, for the fiscal year ended Feb. 2, from $3.9 million, or 72 cents a share, for the previous year. Sales rose to $112.9 million from $85.3 million. For the fourth quarter net income increased 13% to $1.7 million, or 32 cents a share, from $1.5 million, or 28 cents a share, for the year-earlier period. Sales surged 43% to a record $36.4 million from $25.4 million.
The company opened four new stores in the fourth quarter of fiscal 1995 and 55 new stores for the year.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
