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Wet Seal Q3 profit and sales up
Foothill Ranch, Calif. -- The Wet Seal reported Thursday that net income for the third quarter rose to $3.7 million, from $2.6 million a year earlier.
Sales increased to $152.1 million from $146.4 million. Same-store sales declined 0.9% on a consolidated basis.
The company had six store openings and two store closings at Wet Seal and four store openings and no store closings at Arden B during the third quarter. It expects to have 22 net Wet Seal store openings and three net Arden B store openings for the full year.
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Kirkland’s Q3 profit falls 48%, but beats expectations
Nashville, Tenn. -- Kirkland’s net profit in its fiscal third quarter as operating expenses and cost of sales rose, and same-store sales declined. But its results still beat Wall Street's expectations. The company earned $1.2 million, compared with $2.3 million a year earlier.
Operating expenses rose 8% to $31.3 million, while the company's cost of sales rose 7% to $60.9 million.
Sales rose 5% to $97.1 million, from $92.7 million. Same-store sales were down 3.6%.
