Wet Seal Profits Rise 26% As Sales Grow 17% for Quarter

The Wet Seal Inc., a Foothill Ranch-based retailer of clothing for young women, said net income for the fiscal first quarter rose 26% to $4.4 million, or 34 cents a share, from $3.5 million, or 25 cents a share, for the like period last year. Sales for the quarter ended May 1 increased 17% to $122.8 million from $104.8 million. Comparable store sales grew 3%. The company operated 537 stores at the end of the first quarter, compared with 407 stores a year ago.