Wet Seal ( WTSLA) became the latest fashion victim Thursday.

The trendy women's apparel chain said it expects earnings to fall well short of Wall Street's expectations in the second quarter -- marking the second straight day in which an earnings warning from a clothing chain battered the sector.

The company, based in Foothill Ranch, Calif., said it expects to post second-quarter earnings of between 12 cents and 14 cents a share, compared with 12 cents in the year-ago period. On average, analysts had expected earnings of 17 cents a share, according to Thomson Financial/First Call.

The announcement came just before the markets closed, and the stock promptly tanked, closing down $3.03, or 19%, at $12.68. It remained at that level in afterhours trading.

The only detail the company gave in the brief statement was that the past two weeks of sales have been slow, causing comparable-store sales in July to be down in the mid-single-digits.

Wet Seal's news followed a similar warning from Hot Topic ( HOTT) on Wednesday. That company, which sells music-inspired clothing to teenagers and was once a hot growth stock, said that earnings would disappoint. At the same time, Children's Place ( PLCE) also warned, and many apparel stocks have sunk in the last two days amid reports the economy is weakening anew.

More from Stocks

Jabil Stock Surges on Stellar First-Quarter Earnings

Jabil Stock Surges on Stellar First-Quarter Earnings

2019 Could Be a Great Year for Gold Miners

2019 Could Be a Great Year for Gold Miners

Is FedEx Stock Salvageable? Probably, Just Not Yet

Is FedEx Stock Salvageable? Probably, Just Not Yet

Hershey Shares Get Boost From Bank of America's Double Upgrade

Hershey Shares Get Boost From Bank of America's Double Upgrade

Micron Stock Sees Spate of Downgrades After Distressing Demand Forecast

Micron Stock Sees Spate of Downgrades After Distressing Demand Forecast