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Arden B comparable store sales improves in September
08
Oct '08
The Wet Seal Inc, a leading specialty retailer to young women, reported net sales and comparable store sales for the five-week period ended October 4, 2008, or fiscal September, as follows:

Click to view results:

Ed Thomas, chief executive officer of The Wet Seal Inc, commented: "At our Wet Seal stores, performance improved over the course of September after a slow start, leading to slightly positive comparable store sales in the last week of the month. Consistent with recent patterns, sales were relatively stronger in the middle of the country, primarily in the upper Midwest and Texas.

Results were weaker in portions of the country heavily affected by struggling housing markets, such as Florida, Arizona and Southern California. Overall, we were pleased with the resilience of the Wet Seal business in the face of economic uncertainty and the continued difficult retail environment."

Mr. Thomas continued, "At Arden B, comparable store sales improved slightly relative to August results, as we continue to refine the division's merchandising, pricing and promotional strategies. As business remains difficult, we continue to maintain very conservative inventory levels at Arden B and manage expenses tightly to ensure we mitigate the effects of the sales weakness."

Mr. Thomas concluded, "With September comparable store sales in line with our overall expectations and through tight management of all areas of our business, we continue to expect third quarter earnings per diluted share of between $0.05 and $0.07, which is consistent with our initial guidance given in late August."

Wet Seal Inc

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