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Why The Wet Seal Was Up 9 Percent After Hours (WTSL)

8601347118_b7d159bd1d_bShares of The Wet Seal Inc (NASDAQ: WTSL) were up more than 9 percent in after hours trading Tuesday after the company reported mostly positive earnings.

The company reported second quarter EPS of $0.01 versus consensus of $0.01. EPS were up 114 percent year over year. Revenue was reported at $137.20 million versus the estimated $137.88 million. Sales were up 1 percent year over year. The company forecasted third-quarter EPS of $(0.02)-(0.03) vs $0.00 analyst estimate. It sees third quarter revenue between $135 million and $138 million versus estimates of $137.1 million.

Same store sales were up 3.7 percent for the teen retailer which includes a 2 percent increase in Wet Seal-owned Arden B.

Read the transcript of the conference call here.

[stock-tools exchange="NASDAQ" symbol="WTSL" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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