This unloved retailer has soared 29% since Monday

You should’ve bought Pacific Brands Limited’s (ASX:PBG) shares on Monday

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Pacific Brands Limited’s (ASX: PBG) share price has rocketed up 28.6% since Monday, partly thanks to improved financial results.

The ‘socks and jocks’ distributor with brands such as Bonds and Sheridan appears to have turned the corner, after management indicated the company would resume dividend payments next financial year.

We covered the full year results here – but the chart pretty much says it all.

Pacific Brands Ltd chart

Source: Yahoo Finance

More gains could be ahead as the company opens new stores and grows revenues.

 

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Motley Fool contributor Mike King doesn't own shares in any companies mentioned. You can follow Mike on Twitter @TMFKinga The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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