Wet Seal Earnings Call, First Quarter 2008
5th June 2008 00:00 AM |
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| Net sales rose 3% to $142.4 million from $138 million in 2007 due to the increase in store level efficiencies and lower costs. |
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| The leading specialty retailer to young women reported net income of $8.9 million, or 9 cents a share, up 17% from $7.6 million, or 7 cents a share in the prior year following an increase in net sales and a decrease in costs. Wet Seal will focus efforts on cost-cutting initiatives and store productivity enhancements at while remaining disciplined in inventory management, with the assumption that the retail environment will remain challenging throughout the remainder of the year. |
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The Wet Seal Fourth Quarter Earnings Call
1st April 2008 00:00 AM |
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| Quarterly earnings per share were 13 cents, exceeding the previously announced guidance of 9 cents to 10 cents per share. |
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| The leading specialty retailer for young women posted full year consolidated net income of $23.2 million, or 23 cents per share compared with a net loss of $12.8 million, or 18 cents per share in fiscal 2006. The management announced progress with the structural changes at Arden B, tighter inventory controls and better aligned inventory targets. The first quarter fiscal 2008 earnings guidance has been projected to be in the range 4 cents to 6 cents per diluted share. |
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Wet Seal Second Quarter Earnings Call
3rd September 2007 00:00 AM |
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| The net income, aided by improved merchandise margins and better productivity, increased to $6.8 million from $4.4 million in prior year. |
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| Despite the 2.2% decline in comparable store sales, the specialty women’s apparel retailer reported revenue of $143 million as against $129.5 million in the previous year, on 12.5% increase in the average number of new stores. While the average unit retails grew 11.3%, the average number of units per transaction fell by 5.5%. During the quarter, Wet Seal opened 15 new stores and closed five stores. For the third quarter, the company projects earnings per share of 7 cents to 10 cents. |
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The Wet Seal First Quarter Earnings Call
21st June 2007 00:00 AM |
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| Net income was $7.6 million, or 7 cents per share compared to a net loss of $14 million or 22 cents per share in the prior year quarter. |
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| The leading apparel retailer for teenagers reported sales of $138 million, an increase of 10% from $125.1 million in the prior year quarter. The same store sales for the quarter grew 2.7% over the prior year. Internet sales increased over 160% compared to the first quarter last year and now represent approximately 5% of total revenue. Wet Seal opened 18 net new stores during the quarter, taking the total to 448 stores. For Q2, EPS is expected in the range of 5 cents to 8 cents. |
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Wet Seal Fourth Quarter Earnings Call
5th April 2007 00:00 AM |
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| Net loss increased to $5.7 million from a loss of $2.9 million a year ago, driven by charges totaling $15 million. |
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| The teen clothing retailer that operates Wet Seal and Arden B chains reported revenue of $166.4 million compared to $141.4 million a year ago, in line with analysts’ expectations. The results included charges related to the conversion of convertible notes, stock option charges of $3.6 million and a $400,000 asset impairment charge. For Q1, the company expects earnings between 4 cents and 8 cents per share, including a 1 cent charge for non-cash stock compensation. |
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