The markets have reacted positively to the news that NZ-listed Pumpkin Patch is to dump 20 of is badly performing US stores.

The children’s clothing label has decided to close 20 of the 35 stores in the US as the stores continued to under perform and were causing problems with the company’s bottom line.

Pumpkin Patch’s share price was up 9.6% at 11.53 today after a busy morning trade. The shareprice now sits at $1.48 – still considerably below the 52-week high of $1.64.