Wet Seal May comparable store sales decline 8.3%

01 Jun '06

2 min read

Wet Seal Inc, a leading specialty retailer to young women, reported that comparable store sales decreased 8.3 percent for the four-week period ended May 27th 2006, compared with an increase of 56.9 percent in the same period, a year ago.

Net sales for the four-week period ended May 27th 2006, were $37.3 million, compared with net sales of $40.0 million in the same period last year, a decrease of 6.7 percent.

Joel Waller, CEO of Wet Seal Inc, said, "Sales for May were consistent with the update we provided early last week and reflect the tough comparisons to last year and an inventory shortage in fashion tops and dresses at the Wet Seal division. For the month of June, we expect a mid single-digit decrease in comparable store sales.”

“In June 2005 we reported a 59.3 percent increase in comparable store sales, and our estimate for this June reflects this tough comparison and some continuing impact from the inventory shortages experienced in May. We currently project a return to positive comparable store sales in July," he added.

Headquartered in Foothill Ranch, California, Wet Seal Inc is a leading specialty retailer of fashionable and contemporary apparel and accessory items. At quarter end and currently, the company operates a total of 401 stores in 46 states, the District of Columbia and Puerto Rico, including 309 Wet Seal stores and 92 Arden B stores.

Wet Seal Inc

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