Retail Earnings: Wet Seal, The Finish Line Friday, March 25, 11:47 AM ET
Teen retailer Wet Seal (
WTSLA) posted a big drop earnings for its fourth quarter late yesterday.
Net income totaled $5.3 million, or $0.05 per share, compared to $74.2 million, or $0.73 per share, in last yearís fourth quarter.
Adjusted earnings of $0.07 per share were just ahead of analyst forecasts.
Revenue rose 10%, to $165.5 million, on 2.3% same-store sales growth.
Also late yesterday, The Finish Line (NASDAQ:
FINL) posted fourth quarter earnings of $34.3 million, or $0.63 per share, compared to $30.8 million, or $0.56 per share, in last yearís fourth quarter.
Revenue at the athletic shoe retailer rose 2.7%, to $384.6 million, on 4% same-store sales growth.
Adjusted earnings of $0.65 per share met analyst expectations.
For MarketNewsVideo.com, Iím Sayoko Murase.
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Retail Earnings: Wet Seal, The Finish Line
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