Wet Seal Feb performance line with expectations

06 Mar '08

2 min read

The Wet Seal Inc, a leading specialty retailer to young women, reported net sales for the four-week period ended March 1, 2008, of $42.2 million, compared to net sales of $41.2 million reported for fiscal February last year.

Comparable store sales declined 8.2% for the four-week period ended March 1, 2008, compared with a 5.0% increase for the comparable period a year ago.

Ed Thomas, Chief Executive Officer of The Wet Seal Inc, commented: "Consistent with our results throughout fiscal 2007, we achieved better performance in our Wet Seal stores as compared to Arden B in this challenging retail environment.

Wet Seal's performance was in line with our expectations for the month, but Arden B comparable store sales continued to be impacted by inventory mix issues that we expect to continue through the end of April, by which time we expect a stronger presentation of fashion basic and 'wear to work' product to complement the assortment."

Mr. Thomas added, "Beginning with our fourth quarter earnings release and conference call later this month, we plan to provide separate segment revenue, comparable store sales and other operating results for our Wet Seal and Arden B concepts."

The Company plans to report operating results for its fiscal 2007 fourth quarter and provide guidance for its fiscal 2008 first quarter before the market opens on Thursday, March 27, 2008, followed by a conference call at 8:00 a.m. Pacific Daylight Time. A broadcast of the call can be accessed on the Company's website. A replay of the call will be available through April 3, 2008.

Wet Seal Inc

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