CONTEMPO BUY BOOSTS SALES, NET AT WET SEAL IN 3, 12 MONTHS
IRVINE, Calif.--The Wet Seal Inc. women's specialty retailer reported fourth-quarter earnings rose to $5.2 million, or 42 cents a share, from $648,000, or 5 cents a year ago. Fourth-quarter results reflect the Contempo Casuals acquisition, completed July 1. Sales for the quarter ended Feb. 3 almost tripled to $103.3 million from $36.4 million. Same-store sales fell 4.2 percent. For the full year, the company earned $5.6 million, or 45 cents, against a loss of $1 million a year ago. The results reflect the Contempo Casuals business from July 1995. Sales more than doubled to $266.7 million from $133 million. Same-store sales were down 4.1 percent. The company operates 127 Wet Seal and 237 Contempo Casuals stores.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)