The Wet Seal Inc.: The Irvine retailer...
The Wet Seal Inc.: The Irvine retailer of women’s apparel posted net income of $5.8 million, or 47 cents a share, for the fiscal year ended Feb. 3, contrasted with a net loss of $1 million, or 8 cents a share, for the prior year. Sales doubled to $266.7 million from $133 million. Fourth quarter profit was $5.4 million, or 43 cents a share, up from the $648,000, or 5 cents a share, for the corresponding period a year ago. Sales rose to $103.3 million from $36.4 million. The company said the fourth-quarter results reflect the July 1 acquisition of Contempo Casuals, which added 237 stores.
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