NEW YORK (TheStreet) -- Wet Seal (WTSL) stock is tumbling today after reporting first-quarter revenue below estimates and guiding for continued declines in its current quarter. By late afternoon, the nano-cap had dropped 12.6% to 88.3 cents.
Over its April-ended quarter, the retailer reported a net loss of 18 cents a share, inline with analysts' estimates. Revenue slid 16.9% from the year-ago quarter to $116.73 million. Analysts surveyed by Thomson Reuters estimated $117.46 million.
For its second quarter ending July, management expects a net loss between 9 cents and 12 cents a share. That range is based on comparable-store sales dropping 8% to 11%. Analysts expected a net loss of 10 cents a share.
- You can view the full analysis from the report here: WTSL Ratings Report
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