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%.