Wet Seal Inc

A challenging second quarter hammered earnings at two California-based teen retailers, while apparel giant Gap Inc. narrowly beat expectations with profit that was little changed from last year. On Thursday, Pacific Sunwear of California Inc. reported a quarterly loss of $14.2 million; Wet Seal Inc. said its profit fell 69.3% compared with a year earlier; and Gap reported profit of $228 million, or 33 cents a share, compared with $229 million, or 32 cents, a year earlier. The results for the companies' fiscal second quarter ended Aug. 1 highlight the troubles still plaguing many retailers, especially those that sell apparel and accessories, which are easier to forgo during the recession.