Wet Seal profit edges up in Q2
Foothill Ranch, Calif. -- The Wet Seal reported Thursday that net income for the quarter ended July 30 rose to $2.2 million from $1.6 million.
Sales rose to $148.8 million, compared with $131.5 million a year earlier. Same-store sales increased 6%, the strongest second-quarter comps since 2005, according to the company.
Looking ahead, Wet Seal said it plans to spend $17 million to $18 million in fiscal 2011 on construction of new stores or remodeling of existing stores upon lease renewals and/or store relocations.