Wet Seal Second-Quarter Net Rises 3% Over Previous Year

Wet Seal Inc., the Irvine apparel retailer, said net income for the second fiscal quarter totaled $3.4 million, or 25 cents a share, 3% higher than the $3.3 million, or 25 cents a share, earned a year ago. Sales for the quarter ended Aug. 2 were down slightly to $94.3 million from $94.4 million.

For the first six months, net income increased 73% to $6.9 million, or 50 cents a share, from $4 million, or 31 cents a share, for last year’s first half. Sales grew 9% to $189.8 million for the period from $174.9 million.

At the end of the second quarter, the company operated 368 stores, three of which opened Aug. 1, compared to 364 stores a year earlier. The company said it will open about 30 stores during this year and 75 stores next year.