Wet Seal Stock Drops to New Low, Rebounds
Young women’s apparel retailer Wet Seal Inc., which warned late Friday that its fourth-quarter earnings probably would plummet 72%, saw its shares drop to a 52-week low during trading Monday before rebounding.
Shares of the Foothill Ranch company closed at $10.86 in New York Stock Exchange trading, down 14 cents. But earlier in the day, the price dipped to $9.88 a share.
Besides predicting lower earnings, Wet Seal said sales in stores open at least a year, a key industry indicator, were down 17%.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
