Wherehouse Entertainment said profit is down.

Louis A. Kwiker, chief executive of the Gardena-based record, video and computer software chain, predicted that earnings for the quarter ending Sept. 30 would be lower than a year ago because of substantial inventory loss in the first half of the year. Kwiker said that the shrinkage was “out of line with prior experience” and that the company was taking steps to reduce it. Kwiker said profit will be lower than the $1.054 million reported for same quarter last year.