Wet Seal comparable store sales up 17% in April

04 May '06

2 min read

Leading specialty retailer to young women Wet Seal Inc reported that comparable store sales increased 17.0 percent for the four-week period ended April 29th 2006, compared with an increase of 35.7 percent in the same period a year ago.

The net sales for the four-week period ended April 29th 2006 were $41.7 million, compared with net sales of $33.0 million in the same period last year, an increase of 26.4 percent.

Comparable store sales increased 20.0 percent on top of a 29.8 percent increase in the same period a year ago. Net sales for the 13-week period ended April 29th 2006 were $125.1 million compared with net sales of $103.8 million in the same period last year, a 20.5 percent increase.

Joel Waller, CEO of The Wet Seal Inc, said: "We are pleased to report a comparable store sales increase for the sixteenth consecutive month. For the Wet Seal division, meaningful increases in traffic continued in April with sales strength in most all product categories. We saw acceleration in demand for dresses throughout the quarter and we experienced strong demand for fashion tops. In recognition of these trends, we shifted our inventory mix to increase our position in these categories. The deliveries of these goods are happening now and will accelerate in May and going forward.

"As expected, sales at Arden B were more directly impacted by the shift of Easter into April. Improved sales at Arden B reflect this shift and we think we saw improved traffic from a more coherent store front presentation.

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