Bloomberg News

Wet Seal Shares Fall After Earnings Guidance Reduced

October 03, 2007

Wet Seal Inc. (WTSLA:US) shares fell in extended trading after the California-based women's clothing retailer lowered its third-quarter earnings guidance and said same-store sales in September fell more than forecast.

The stock declined 60 cents, or 15 percent, to $3.39 in trading after the official close of U.S. exchanges as of 5:17 p.m. New York time.

Third-quarter net income (WTSLA:US) will likely be between break even and 2 cents a share, down from a range of 7 cents to 10 cents, the Foothill Ranch, California-based retailer said today in a statement distributed by Business Wire.

Comparable-store sales in September dropped 7.5 percent to 8.5 percent, worse than the previously forecast range of a 1 percent loss to a 3 percent gain.

An assistant to Chief Financial Officer Steven H. Benrubi said the company doesn't ``talk to the media.''

To contact the reporter on this story: James Temple in San Francisco at jtemple@bloomberg.net

To contact the editor responsible for this story: Michael Nol at mnol@bloomberg.net.


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