ORANGE COUNTY EARNINGS

The Wet Seal Inc.: The Foothill Ranch-based retailer of casual apparel and accessories reported net income of $4.9 million, or 35 cents a share, for the second fiscal quarter ended Aug. 1, 44% higher than the $3.4 million, or 25 cents a share, for the like period last year. Sales increased 20% to $113 million from $94.3 million. For the first half, net income advanced 22% to $8.4 million, or 59 cents a share, from $6.9 million, or 50 cents a share, for the comparable period last year. Sales were up 15% to $217.9 million from $189.8 million. Comparable store sales increased 4% for the second quarter.

As of Aug. 1, the company operated 413 stores, compared to 368 stores in the prior year. Ten stores were opened in the second quarter, for a total of 31 new stores for the year to date. Plans call for opening about 40 stores in the second half of fiscal 1998.