The Wet Seal, Inc. (WTSL) Posts Q4 Loss of 23c/Share; Issus Light Q1 Outlook
Tweet
Share
E-mailGet Alerts WTSL Hot Sheet
Join SI Premium – FREE
The Wet Seal, Inc. (NASDAQ: WTSL) reported Q4 EPS of ($0.23), $0.01 better than the analyst estimate of ($0.24). Revenue for the quarter came in at $124.8 million versus the consensus estimate of $134.74 million.
Consolidated comparable store sales declined 16.5%, including a comparable store sales decline of 15.4% at Wet Seal and 25.0% at Arden B. Comparable store sales for the current year quarter are versus the comparable thirteen weeks from the prior year. Versus the comparable thirteen week period from prior year, net sales for the fourth quarter of fiscal 2013 declined approximately 14% at Wet Seal, 43% at Arden B and 18% on a consolidated basis.
Sees Q1 2014 EPS of ($0.19)-($0.16), versus the consensus of ($0.05).
In fiscal 2014, the Company expects to open 10 new Wet Seal stores, primarily in outlet centers, and close approximately 17 Wet Seal stores upon lease expiration. The Company also expects to close approximately 13 Arden B locations upon lease expiration. Net capital expenditures are expected to be between $10.5 million and $11.5 million, of which approximately $6 million to $7 million will be used for remodeling of existing stores upon lease renewals and/or store relocations or construction of new stores.
For earnings history and earnings-related data on The Wet Seal, Inc. (WTSL) click here.
Consolidated comparable store sales declined 16.5%, including a comparable store sales decline of 15.4% at Wet Seal and 25.0% at Arden B. Comparable store sales for the current year quarter are versus the comparable thirteen weeks from the prior year. Versus the comparable thirteen week period from prior year, net sales for the fourth quarter of fiscal 2013 declined approximately 14% at Wet Seal, 43% at Arden B and 18% on a consolidated basis.
Sees Q1 2014 EPS of ($0.19)-($0.16), versus the consensus of ($0.05).
In fiscal 2014, the Company expects to open 10 new Wet Seal stores, primarily in outlet centers, and close approximately 17 Wet Seal stores upon lease expiration. The Company also expects to close approximately 13 Arden B locations upon lease expiration. Net capital expenditures are expected to be between $10.5 million and $11.5 million, of which approximately $6 million to $7 million will be used for remodeling of existing stores upon lease renewals and/or store relocations or construction of new stores.
For earnings history and earnings-related data on The Wet Seal, Inc. (WTSL) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Visa (V) stock rises as Q2 earnings, revenue come ahead of estimates
- Orange S.A. (ORAN) Reports Q1 results; reaffirms outlook
- Retail Opportunity Investments (ROIC) Tops Q1 EPS by 2c, reaffirms guidance
Create E-mail Alert Related Categories
Earnings, Guidance, Hot Guidance, Retail SalesRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
