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Wet Seal Comp store sales dive 50.9% in July

05
Aug '05
California based fashion accessory retailer The Wet Seal Inc reported net sales for the four-week period ended July 30, 2005 of $37.6 million, compared with net sales of $32.7 million for the same period last year, an increase of 14.8 percent.

Comparable store sales increased 50.9 percent for the four-week period ended July 30, 2005, compared with a decline of 14.7 percent for the same period a year ago.

Net sales for the fiscal quarter ended July 30, 2005 were $126.7 million, compared with net sales of $105.7 million for the same quarter last year, a 19.9 percent increase.

Comparable store sales increased 55.9 percent for the fiscal quarter ended July 30, 2005, compared with a decline of 10.9 percent for the same quarter a year ago.

Net sales for the 26-week period ended July 30, 2005 were $230.6 million, compared with net sales of $205.6 million for the same period last year, a 12.2 percent increase. Comparable store sales increased 43.7 percent for the 26-week period ended July 30, 2005, compared with a decline of 14.0 percent for the same period a year ago.

Mr. Joel Waller, chief executive officer of The Wet Seal, Inc., commented: "They enjoyed another month of strong sales in all geographic regions as they enter the 'Back To School' season. With their continued strong sales, merchandise margin improvement and their most recent financing, they have full access to merchandise and have experienced a gradual improvement with vendor credit."


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