Interested in following publicly traded companies in the action sports market? Listen to the PacSun Q3 Conference Call for yourself right here.
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Citi Investment Research analyst Kimberly Greenberger recently upgraded Pacific Sunwear’s (PSUN) stock status to “hold” from “sell.” In her report she attributes the company’s “sufficient liquiduty” to its survival among deteriorating conditions.
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“Although our earnings for the second quarter were in line with our expectations, our results continue to reflect the impact of a weakening economy on the retail sector. With the possibility of an even tougher environment ahead, we plan to maintain strong operating discipline while weathering these economic headwinds in order to position our business for success when the environment improves.” —Sally Frame Kasaks, Chief Executive Officer.
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