Wet Seal Shaves Its Loss in 2nd-Quarter to $733,000

Wet Seal Inc., an Irvine young women’s apparel retailer, said its second-quarter net loss narrowed to $733,000, or 6 cents a share, compared to a loss of $1.2 million, or 10 cents a share, for the prior-year quarter. Sales for the quarter ended July 29 rose 44% to $44.9 million from $31.1 million. Second quarter results reflect the impact of the Contempo Casuals acquisition completed July 1, which gave the company an additional 237 stores. The company posted a loss of $1.4 million, or 11 cents a share, for the first half, compared to a loss of $1.9 million, or 15 cents a share, for the comparable period last year. Sales gained 22%, to $74.7 million from $61.3 million.