Nomura Securities Sees Trends Continuing To Be Difficult at Wet Seal, Inc. (WTSLA); Cutting FY12/13 Estimates

May 23, 2012 9:23 AM EDT Send to a Friend
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Price: $2.95 -2.64%

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Nomura Securities maintains a 'Neutral' on Wet Seal, Inc. (NASDAQ: WTSLA) price target lowered from $4 to $3.

Analyst, Paul Lejuez, said, "Business trends continue to be difficult. The company guided 2Q comps down 7-11% compared to down 8% in 1Q, despite an easier comparison. Mgmt also expects a loss of $0.03-$0.06 (vs consensus of a $0.01 gain) in the qtr. On the positive side, the company will be opening fewer Wet Seal stores and now expects to close 15-20 Arden B. stores as they come off lease in F12. We are reducing our F12E EPS from $0.15 to $0.03 and F13E from $0.16 to $0.04."

For an analyst ratings summary and ratings history on Wet Seal, Inc. click here. For more ratings news on Wet Seal, Inc. click here.

Shares of Wet Seal, Inc. closed at $2.86 yesterday.


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