Wet Seal Stock Drops as Industry Report Due

Retailer Wet Seal Inc.’s stock lost almost 11% of its value on Wednesday as Wall Street lopped $4.14 from the shares one day after the stock hit its 52-week high. The price slid to $33.96 a share on Nasdaq.

Executives at the Foothill Ranch company, which sells clothing for girls and young women, could not be reached for comment.

Analyst Richard Jaffe at UBS Warburg LLC said investors were probably grabbing profits in advance of the retail industry’s release today of May sales results, which he expects to be “miserable.”