Home / Knowledge / News / Apparel/Garments / Wet Seal e-commerce Q1 FY'13 sales rise 4.6%
Wet Seal e-commerce Q1 FY'13 sales rise 4.6%
09
May '13
The Wet Seal, Inc., a leading specialty retailer to young women, reported net sales of $140.4 million and a comparable store sales decline of 2.9% for the 13-week period ended May 4, 2013. The results exceeded prior guidance for net sales in the range of $135 million to $139 million and a comparable store sales decline in the mid-single digits.

Fiscal First Quarter 2013

E-commerce sales, which are not a component of comparable store sales, increased 4.6% for the period.

"We experienced significant improvement across the business as the quarter progressed," said John D. Goodman, Chief Executive Officer. "After a challenging start in February, primarily due to macro headwinds, we achieved positive low-single digit comp store sales in the combined March-April time-frame and generated positive mid-single digit comp store sales in the final month of the quarter. At the same time, we saw significant improvement in our merchandise margin, which came in approximately flat versus last year's first quarter.

"As of quarter-end, we estimate total inventory dollars per square foot decreased in the mid- to high-single digits versus the prior year at Wet Seal and Arden B, which positions both brands to be able to chase into emerging fashion trends.

"We continue to improve at delivering great product and offering the right blend of regular and promotional pricing, supported by more compelling in-store marketing and merchandise presentation. The customer is responding well and returning to the Wet Seal brand more quickly than anticipated, which has enabled us to stabilize the business and exceed our financial forecasts in the first quarter.

"We are also making progress at Arden B, achieving slightly positive comps for the period. The improvements we've made year-to-date, along with the recent appointment of a new GMM for this division, make us optimistic that we can reinvigorate the Arden B brand."

Wet Seal

Must ReadView All

Courtesy: Creora

Textiles | On 28th Mar 2017

Hyosung holds Creora workshops in China, HK & Taiwan

South Korean specialty fibre producer Hyosung held a series of...

Apparel/Garments | On 28th Mar 2017

US withdrawal from TPP to not impact Vietnam garment exports

A high ranking official of the Vietnam Textile and Apparel...

Apparel/Garments | On 27th Mar 2017

NYCEDC announces $51mn package for NYC garment industry

New York City Economic Development Corporation (NYCEDC), in...

Interviews View All

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search