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 August 2, 2008, or fiscal July, and the fiscal second quarter ended August 2, 2008, as follows:

The Company indicated it expects to achieve results at or near the high end of previously announced fiscal second quarter earnings guidance, which was for net income between $0.07 to $0.09 per diluted share, or between $0.09 and $0.11 per diluted share before the effect of $1.9 million in non-cash interest charges associated with a June 2008 conversion of $3.4 million of the Company’s Secured Convertible Notes into common stock.

Ed Thomas, chief executive officer of The Wet Seal, Inc., commented: “Our July comparable store sales reflect continuation of a very difficult and highly promotional market. Consistent with our approach through the first half of the year, we remain focused on tightly managing all aspects of our business as we enter the important back-to-school selling season. We ended the fiscal second quarter with consolidated inventories per square foot approximately 12% to 13% below the comparable prior year level, which was in line with our expectations and, we believe, properly reflects the current selling environment.

“We also remain on course with the Arden B merchandising transition we started in the first quarter this year, though we have been very cautious with overall inventory levels during the early evaluation stage of this effort. As of the end of July, approximately 70% of Arden B inventory now reflects our new strategy, and sell-through rate on this merchandise during July exceeded the division’s rate as a whole.”

Mr. Thomas continued, “We are pleased with our expectation to achieve at or near the high end of our previously announced second quarter earnings guidance, which reflects our cautious merchandising approach and our ongoing efforts to manage other aspects of our business very conservatively through this difficult period.”

Second Quarter Earnings Release and Conference Call

The Company plans to report operating results for its fiscal second quarter and provide guidance for its fiscal third quarter after the market closes on Thursday, August 21, 2008, followed by a conference call at 1:30 p.m. Pacific Daylight Time. To listen to the conference call, please dial (888) 244-2414 and provide ID # 9473464. A broadcast of the call can be accessed on the Company’s website at www.wetsealinc.com. A replay of the call will be available through August 28, 2008. To access the replay, please call (888) 203-1112 or (719) 457-0820 and provide the ID number above.

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 August 2, 2008, the Company operated a total of 497 stores in 47 states, the District of Columbia and Puerto Rico, including 404 Wet Seal stores and 93 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 the Company’s fiscal second quarter earnings per share expectations 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