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Wet Seal grows sales during Q2, misses estimates
Foothill Ranch, Calif. – The Wet Seal Inc. reported net sales of $137.2 million during the second quarter of fiscal 2013, a 1.5% improvement from the second quarter of the previous year. However, this figure fell a bit short of the $138.5 million analysts were expecting.
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Wealth effect evident at Tumi
Affluent shoppers feeling better about their personal balance sheets helped global luxury brand Tumi grow total sales by 12.9%, same store sales by 4.6% and double profits in the second quarter ended June 24.
Best known for its expensive luggage, Tumi said sales total $108.2 million during the period and profits increased to $11.2 million, or 16 cents a share, compared to profits of $6.5 million, or 10 cents a share in the same period the prior year.