Wet Seal Reports In-Line Results (WTSLA)

Wet Seal Inc. WTSLA reports Q3 earnings of $0.03 versus consensus of $0.03. Wet Seal Inc. reports Q3 revenues of $146.4 million versus consensus of $144.13 million. Comp store sales decreased 0.1% overall; Wet Seal SSS increased 0.4%, while Arden B SSS decreased 2.9%. Ed Thomas, the Company's president and chief executive officer, commented, "We were pleased to exceed our initial earnings expectations for the third quarter. Through essentially flat comparable store sales, continuing year-over-year merchandise margin improvement and disciplined cost management, we continued to generate positive earnings results in spite of the difficult retail environment. Wet Seal sees Q4 EPS in the range of $0.03 to $0.05 on sales of $158 million to $163 million. Shares of WTSLA are lower in the after-hours by 0.40%.