Markets & Finance

Pacific Growth Keeps 'Overweight' on Pacific Sunwear

Pacific Growth reiterates overweight on Pacific Sunwear (PSUN).

Analyst Dawn Stoner says she thinks the specialty retailer had another strong month in August, and sees good potential for upside to her same-store sales estimate of positive 8% vs. a 12.9% gain a year ago. She thinks sales trends remain very healthy in both divisions; she sees high a single-digit gain at PacSun stores, and a mid-teen rise at d.e.m.o.

Stoner says store checks revealed heavy store traffic and strong sell-through in key back-to-school items. She sees the women's and accessories segments posting the strongest year-over-year August sales, with the guys' segment improving over recent months.

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