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.
