PacSun sales boost falls short of expectations

ANAHEIM, Calif. Pacific Sunwear reported a 4% increase in April same-store sales, lower than the 5.5% increase expected by Wall Street.

Net sales for the company's PacSun division increased 5% to $73.8 million. Apparel sales, which represented 79% of total company sales, rose 22%.

The company expects a first-quarter loss of 17 to 18 cents per share, which includes a non-cash charge of 7 cents a share related to the sale of the Anaheim Distribution Center. Analysts predicted a loss of 7 cents per share.

According to cfo Michael Henry, sales were strongest in the second week of the month and in Texas, New England and the mid-Atlantic region, and weakest in the fourth week of the month in the desert southwest, Southern California, Florida and Rocky Mountain regions.