Wet Seal (WTSLA) Comps Fall 12.7% in September
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The Wet Seal, Inc. (Nasdaq: WTSLA) reports 9.9 percent drop in September sales to $48.3 million. Comps fell 12.7 percent, from a drop of 0.3 percent last year.
Our September consolidated comparable store sales reflect progress from our comparable store sales decline of 18.3% in fiscal August. These results are in line with expectations we had at the beginning of this quarter for progressive improvements from month to month. We currently forecast comparable store sales for the fiscal third quarter will be within or slightly better than our initial estimate of a decline ranging from 14% to 18%. We also believe our loss per diluted share will remain within the range of our initial estimate of between $0.13 and $0.16.
The Street sees a loss of 15 cents per share.
Our September consolidated comparable store sales reflect progress from our comparable store sales decline of 18.3% in fiscal August. These results are in line with expectations we had at the beginning of this quarter for progressive improvements from month to month. We currently forecast comparable store sales for the fiscal third quarter will be within or slightly better than our initial estimate of a decline ranging from 14% to 18%. We also believe our loss per diluted share will remain within the range of our initial estimate of between $0.13 and $0.16.
The Street sees a loss of 15 cents per share.
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