Pacific Sunwear Reports 53% Increase in Profits

Pacific Sunwear of California Inc., an Anaheim retailer of young men’s casual clothing and accessories, reported a 53% gain in third-quarter profit, to $1.3 million, or 24 cents a share, from $852,000, or 16 cents a share, for the prior year period. Sales for the quarter ended Oct. 30 were up 65% to $23.9 million from $14.5 million. The company said the sales increase resulted primarily from opening 41 stores since Oct. 31, 1993. For the nine-month period, profit totaled $2.4 million, or 44 cents a share, up from $1.8 million, or 35 cent a share, recorded for the like three quarters last year. Sales increased 58% to $59.9 million from $38 million.