Home / Knowledge / News / Apparel/Garments / Slight increase in expected gross margin at Wet Seal
Slight increase in expected gross margin at Wet Seal
08
Feb '08
The Wet Seal Inc, a leading specialty retailer to young women, reported net sales for the four-week period ended February 2, 2008, of $36.8 million, compared to net sales of $43.9 million reported for the five-week period ended February 3, 2007.

Comparable store sales declined 5.7% for the four-week period ended February 2, 2008, compared to the four-week period ended February 3, 2007. This was within the range of prior guidance of low to mid single digit comparable store sales decline for the month. The Company reported a 3.6% increase in comparable store sales in fiscal January last year.

For the 13-week period ended February 2, 2008, comparable store sales declined 1.4%, compared with a previously reported 3.1% increase in comparable store sales for the 14-week period ended February 3, 2007. Net sales for the 13-week period ended February 2, 2008 were $175.8 million, compared with previously reported net sales of $166.4 million for the 14-week period ended February 3, 2007.

The additional week in the prior year fiscal January increased total reported prior year net sales by $9.3 million.

Net sales for the periods ended February 2, 2008 do not include any "breakage" revenue for unredeemed gift cards or sales credits. The Company historically has not recognized breakage due to insufficient supporting history and data. However, the Company is completing analysis that may lead to concluding that breakage can now be estimated and should be recorded. Such recording would result in an adjustment to increase net sales for the 13-week period ended February 2, 2008.

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Giorgio Mantovani
Corman S.p.A

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

Kerem Durdag
Biovation II LLC

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

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

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
January 2017

January 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