Wet Seal Anticipates Lower 1Q Profit

The women's apparel retailer forecast earnings in a range of 4 cents per share to 6 cents per share on sales between $140.2 million and $143.2 million.

Analysts surveyed by Thomson Financial predict quarterly net income of 8 cents per share on revenue of $149.2 million.

Wet Seal anticipates a first-quarter same-store sales decline between 7 percent and 9 percent. The company reported a 2.7 percent same-store sales increase in the year-ago period.

Same-store sales, or sales at stores open at least a year, is a key indicator of retailer performance since it measures growth at existing stores rather than newly opened ones.

Wet Seal operated 494 stores in 47 states, the District of Columbia and Puerto Rico as of March 1.