The Wet Seal, Inc. (Nasdaq:WTSLA), a leading specialty retailer to young women, reported net sales and comparable store sales for the four-week period ended May 31, 2008, as follows:
|
Net Sales |
Comparable Store Sales
% Change |
|||||||||||||||
|
$ in Millions |
% Change From |
This Year |
Last Year |
|||||||||||||
| Wet Seal | $ | 37.4 | 13.0 | % | 1.8 | % | 3.1 | % | ||||||||
| Arden B | 8.3 | -13.2 | % | -15.1 | % | -1.7 | % | |||||||||
| Total | $ | 45.7 | 7.1 | % | -2.0 | % | 1.9 | % | ||||||||
Ed Thomas, chief executive officer of The Wet Seal, Inc., commented: “We were pleased to have delivered a slight comparable store sales increase at Wet Seal, despite the difficult macro environment. In addition, we are encouraged by the early customer acceptance of the improved merchandise content that we began delivering to Arden B stores in May. We will continue to build upon merchandise improvements at Arden B over the course of our second fiscal quarter, while carefully managing inventory levels.”
About Wet Seal
Headquartered in Foothill Ranch, California, The Wet Seal, Inc. is a leading specialty retailer of fashionable and contemporary apparel and accessory items. As of May 31, 2008, the Company operated a total of 496 stores in 47 states, the District of Columbia and Puerto Rico, including 401 Wet Seal stores and 95 Arden B stores. The Company’s products can also be purchased online at www.wetseal.com or www.ardenb.com. For more company information, visit www.wetsealinc.com.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: This news release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements that relate to planned improvements of the Company’s Arden B division merchandise mix as well as the intent, belief, plans or expectations of the Company or its management. All forward-looking statements made by the Company involve material risks and uncertainties and are subject to change based on factors beyond the Company’s control. Accordingly, the Company’s future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. Such factors include, but are not limited to, those described in the Company’s filings with the Securities and Exchange Commission. This news release contains results reflecting partial year data and non-fiscal data that may not be indicative of results for similar future periods or for the full year. The Company will not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.
The Wet Seal, Inc.
Steven H. Benrubi, 949-699-3947
