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News Breaks | | | | February 7, 2013 | | 07:10 EDT |  | WTSLA | Wet Seal still sees Q4 EPS (6c), consensus (6c)
As previously disclosed, the Company estimates it will incur $1.3M in one-time pre-tax severance charges for workforce reductions that occurred last week. The Company also estimates it will incur a $0.7M one-time pre-tax charge upon the early termination of two investment banker retention agreements. Lastly, the Company is evaluating several Wet Seal and Arden B stores for potential non-cash asset impairments. The one-time charges and potential asset impairment charges are not included in prior or current guidance and will increase the Company’s loss per diluted share for the quarter. | |
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