Wet Seal Inc. (WTSLA) reported fourth-quarter net income of $1.1 million or $0.01 per share, compared to $5.3 million or $0.05 per share in the comparable quarter last year.
Excluding the after-tax effect of the non-cash asset impairment charges, net income was $2.6 million or $0.03 per share, compared to $6.7 million or $0.07 per share prior year. On average, eight analysts polled by Thomson Reuters expected the company to report profit of $0.03 per share. Analysts' estimates typically exclude special items.
Net sales dropped to $163.15 million from $165.49 million in the year-ago quarter, while eight analysts had a consensus revenue estimate of $165.53 million for the quarter.
Consolidated comparable store sales declined 5.5%.
For the first quarter of fiscal 2012, Wet Seal expects earnings per share to be in the range of $0.02 to $0.04, and total net sales to be between $148 million and $150 million. Analysts currently expect the company to report first-quarter profit of $0.05 per share on revenue of $153.67 million.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.