The Wet Seal slips 7% as clothing retailers decline

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Clothing retailer The Wet Seal Inc. (Nasdaq:WTSLA) is down 7% today as much of the youth clothing industry gets hit by a weak economy and low consumer spending. Also, a survey conducted by Capital One and released today said that parents are planning on spending less money on children’s back-to-school clothing this year. The apparel retail industry is down about 1.2% as a whole today. Shares of Foothill Ranch, Calif.-based Wet Seal are down $0.37 at $5. Trading volume is about 400,000 shares below average. Despite today’s downturn, shares of Wet Seal are up more than 114% since January.

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