Wet Seal Reports Fourth Quarter Earnings Results
Retailer Wet Seal, Inc. (NASDAQ: WTSLA) released its fiscal Q4 earnings results after the closing bell on Thursday. The company reported net income of $1.1 million or $0.01 per share, compared to $5.3 million or $0.05 per share, in the year ago period.
On an adjusted basis, which is comparable to analysts' consensus, the company earned $2.6 million or $0.03 per share, versus $6.7 million or $0.07 per share, in last year's fourth quarter.
This was in line with analysts' consensus EPS estimates of $0.03.
Net sales for the quarter came in at $163.15 million compared to $165.49 million last year. This missed Wall Street revenue estimates of $165.53 million.
Comparable store sales at Wet Seal declined 5.5% year over year.
Looking ahead, the company sees first quarter EPS in a range between $0.02 and $0.04 on revenues between $148 million and $150 million.
This compares to analysts' current consensus estimates of $0.05 on revenues of $153.67 million.
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