Key Developments For The Wet Seal, Inc.
The Wet Seal, Inc. (WTSLA.O) (Consolidated Issue listed on NASDAQ Global Market)
The Wet Seal, Inc. Issues Q4 2009 Outlook Below Analysts' Estimates; Initiates Stock Repurchase Program
The Wet Seal, Inc. announced that for the fourth quarter of 2009, it expects earnings in the range of $0.03 to $0.07 per diluted share, total net sales between $149 and $155 million, comparable store sales decline between 2% and 6% and operating income between $3.4 and $7.5 million. According to Reuters Estimates, analysts on an average were expecting the Company to report earnings per share (EPS) of $0.09 and EBIT of $8.8 million on revenue of $156 million for the same period. The Company also announced that its Board of Directors has authorized it to repurchase shares of its Class A common stock having an aggregate purchase price of up to $12.5 million.
The Wet Seal, Inc. Sees Q3 2009 Guidance At Higher End Of Prior Guidance
The Wet Seal, Inc. announced that it now estimates third quarter 2009 earnings per diluted share (EPS) will be $0.04. This includes $0.3 million in non-cash asset impairment charges, which were not anticipated in the Company's initial guidance. These expected results are near the high end of the Company's initial guidance range. The third quarter 2009 earnings expectations reflect sales near the high end of the Company's initial guidance, partially offset by slightly higher than expected markdown rates in response to the promotional environment. According to Reuters Estimates, analysts are expecting the Company to report EPS of $0.04 for the third quarter 2009.
The Wet Seal, Inc. Reiterates Q3 2009 EPS And Comparable Store Sales Outlook
The Wet Seal reiterated its third quarter of 2009 outlook and expects earnings per diluted share (EPS) to remain within the initial outlook range of $0.02-$0.05 and comparable store sales to remain within the initial outlook range. According to Reuters Estimates, analysts were expecting the Company to report EPS of $0.04 for the same period.
The Wet Seal, Inc. Issues Q3 2009 Guidance; Earnings Guidance Below Analysts' Estimates
The Wet Seal, Inc. announced that for the third quarter of 2009, it expects earnings to be in the range of $0.02-$0.05 per diluted share. The Company expects total net sales between $138-$142 million, comparable store sales decline between 6% and 9% and operating income between $2.1-$5.2 million for the third quarter of 2009. According to Reuters Estimates, analysts were expecting the Company to report revenue of $141 million, EPS of $0.06 and EBIT of $6.5 million for the third quarter of 2009.
The Wet Seal, Inc. Lowers High End Of Prior FY 2009 EPS Guidance Range
The Wet Seal, Inc. announced that for second quarter of 2009, it expects earnings per diluted share (EPS) to be between $0.02-$0.03. This includes $1.6 million in non-cash asset impairment charges, partially offset by the $1.2 million of breakage benefits, which were not anticipated in the Company's initial guidance. These expected results are within the lower end of the Company's initial guidance. According to Reuters Estimates, analysts were expecting the Company to report EPS of $0.03 for the same period.
