Dallas, Texas 07/03/2013 (Financialstrend) – Pacific Sunwear of California, Inc. (NASDAQ:PSUN) has been recently presenting continuous growth in retail sales of the company’s action sportswear products. Analysts from Wedbush Securities recently upgraded the stock rating from neutral to outperform. Progressive growth of sales of women labels in the retail stores of Pacific Sunwear of California, Inc. (NASDAQ:PSUN), together with increased sales of sports action-wear products led to this positive revision.
Pacific Sunwear of California, Inc.(NASDAQ:PSUN) launched six months ago the sales of the “Brandy Melville” line in around 100 retail stores and is further planning to launch this product line to other 100 stores, because of the increased sales of this particular product..
Shares of Pacific Sunwear of California, Inc. (NASDAQ:PSUN) closed at $3.97 on Tuesday, recording a gain of 8.47 percent. The share price ranged between $3.98 and $3.70 during the day, with a 52-week high of $3.98 and a 52-week low of $1.36 per share.
Pacific Sunwear of California, Inc. (NASDAQ:PSUN) recorded very high trading volumes at 1.55 million shares on Tuesday, whereas the average volume stands at 1.15 million shares per day. Pacific Sunwear of California, Inc. (NASDAQ:PSUN) currently has 68.39 million shares outstanding in the market with a market cap of $271.53 million and an institutional ownership of 45 percent of the total share capital.
Pacific Sunwear of California, Inc. (NASDAQ:PSUN) is primarily engaged in the mall-based retail sales of beachwear through its stock of beach-inspired clothing for men and women. The company operates many retail stores in highly-crowded malls of the United States to sell its beach inspired lifestyle clothing.
