The Wet Seal (WTSL) Posts Q2 Loss of 15c/Share; Issues Weak Q3 Outlook

The Wet Seal (NASDAQ: WTSL) reported Q2 EPS of ($0.15), versus the analyst estimate of ($0.09). Revenue for the quarter came in at $121.2 million versus the consensus estimate of $123.8 million.

Consolidated comparable store sales declined 12.4%, including a decline of 11.1% at Wet Seal and a decline of 22.8% at Arden B during the wind down of that business. Comparable store sales results include e-commerce, which alone increased 11.4%, reflecting a 25.1% increase at Wet Seal, offset by a 24.6% decrease at Arden B during its wind down.

For the third quarter of fiscal 2014, the Company expects loss per diluted share, before non-cash asset impairments, severance, Arden B exit costs and fair value adjustment for warrants and embedded derivatives, to be in the range of $0.22 to $0.28. The guidance is based on a comparable store sales decline, including e-commerce, in the mid to high teens.

*** The Street sees Q3 loss of $.12 per share.

For earnings history and earnings-related data on The Wet Seal (WTSL) click here.

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