Thursday, February 08, 2007

Quick Update

Picked up Wet Seal (WTSLA) near the open at $6 even following its disappointing operating income guidance. However, the company did report better than expected revenues. The main factor for the earnings shortfall is due to the heavy discounting going on at the company's Arden B stores. Definitely a setback for the company, but I do think that they are doing the right things to make this turnaround happen.

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