Wednesday, May 23, 2007

Wet Seal flips to profit as shares fall on outlook

(Reuters) - Foothill Ranch, California-based Wet Seal said it expected to earn between 5 cents and 8 cents per share in the second quarter. Analysts, on average, expect earnings of 9 cents a share, according to Reuters Estimates.




The company also forecast same-store sales in May and the fiscal second quarter to rise in the low single digit. Same-store sales are a measure of retail strength and track sales at stores open at least one year.


Read more at Reuters.com Market News

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