The Wet Seal Inc. swung to a third-quarter loss as it continues to struggle to turn the business around and back to profitability.
On Thursday, the retailer posted a loss of $14.8 million, or 17 cents a diluted share, for the quarter ended Oct. 27, versus a year-ago profit of $3.7 million, or 4 cents a share. Excluding charges, Wet Seal said the loss totaled 11 cents, which was better than the 13-cent loss estimated by analysts. Net sales for the period fell 10.9 percent to $135.5 million from $152.1 million a year earlier.
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