The Wet Seal Inc reported net sales for the four-week period ended December 1, 2007 of $53.0 million, compared to net sales of $46.0 million reported for the four-week period ended November 25, 2006.
Comparable store sales declined 1.7% for the four-week period ended December 1, 2007 compared to the four-week period ended December 2, 2006. This was within prior guidance of a low to mid single digit decline for the month. The Company reported a 5.5% increase in comparable store sales in fiscal November last year.
Ed Thomas, chief executive officer of The Wet Seal Inc, commented: "The macro environment remains challenging, but we believe focused inventory management and promotional strategies at both divisions contributed to the improvement in our comparable store sales trend in November versus our experience during the prior two months.
Based on current market conditions, we anticipate a low to mid single digit decline in comparable store sales for the month of December."
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