Teen Retailers Offer Disappointing Outlook Friday, November 20, 11:09 AM ET
If you are into retail stocks, keep an eye on shares of Wet Seal (NASDAQ:WTSLA) and Zumiez (NASDAQ:ZUMZ) today. The two teen retailers both announced expected fourth quarter profits last night that missed analyst estimates.
Wet Seal posted third quarter earnings that were about what analyst were expecting, at 4 cents per share.
Wet Seal said it is looking to earn 3 to 7 cents per share in the fourth quarter – traditionally retailers’ chance to go deeper into the black for the year – on revenue of $149 million to $155 million. Both of those estimates are below what analysts were looking for.
Zumiez beat analyst estimates for the third quarter, with earnings per share of 17 cents, but disappointed with its Q4 outlook.
Zumiez – which caters to a skate boarding and snow boarding crowd – says fourth quarter earnings will total 18 to 22 cents per share, on revenue of $122 million to $126 million.
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