Pumpkin Patch may have tried to allay investor fears that interest in the company was stagnating, analyst says.
The shares jumped 33 percent to a four-month high 28 cents on Friday.
The retailer today posted an improvement in first-half earnings.
Although most retail industries were up in December, the local rag trade struggled in the lead up to Christmas.
Pumpkin Patch shares fell to a record low on concern may seek new capital.
"Trading conditions remain challenging" - Pumpkin Patch chairman
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