The Wet Seal climbs 5% on Q3 guidance despite lower sales
Despite reporting decreased sales for September, The Wet Seal Inc. (Nasdaq:WTSLA) got a 5% boost this morning after affirming its previous third-quarter guidance.
The Foothill Ranch, Calif.-based specialty retailer said the before the bell this morning that its net sales fell 3.2% and comparable-store sales 7.5% for the five-week period ended Oct. 4 compared with last year's fiscal September.
Still, it said that relatively strong sales in parts of the country helped the company and allowed it to expect third-quarter earnings per share of between $0.05 and $0.07.
Analysts polled by Thomson First Call on average are expecting earnings per share of $0.06.
By mid-morning, The Wet Seal is at $3.26, up $0.16 from Tuesday's close. The stock has traded between $1.81 and $5.54 during the past 52 weeks.
For detailed price information and news stories on The Wet Seal, click WTSLA.
About the Author
Contributing author Mary Ann Azevedo has more than 13 years of writing and editing experience that includes coverage of a broad range of companies.
Read More
(click a star)
Enter comment: