




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 29, 2009, or fiscal August, as follows:
|
Net Sales |
Comparable Store Sales
% Change |
||||||||||||||
|
$ in Millions |
% Change From Last Year |
This Year |
Last Year |
||||||||||||
| Wet Seal | $ | 43.6 | -8.6 | % | -12.6 | % | -5.4 | % | |||||||
| Arden B | 6.9 | -10.1 | % | -1.8 | % | -24.7 | % | ||||||||
| Total | $ | 50.5 | -8.9 | % | -11.2 | % | -8.7 | % | |||||||
Ed Thomas, president and chief executive officer of The Wet Seal, Inc., commented: “At Wet Seal, back-to-school results so far have been in line with our expectations. Given that Labor Day falls one week later this year than last, we expect a similar one-week shift in back-to-school shopping. Therefore, we believe that the combined results for August and September will present a more accurate picture of the back-to-school season than does August alone.”
Mr. Thomas continued, “We were pleased to narrow the comparable store sales decline significantly at Arden B. We began to see improving trends as the month progressed, suggesting our planned inventory build in this division has helped drive sales. We plan to have the full extent of inventory build at Arden B, which will still result in lower inventory dollar levels than last year, completed by mid-September.”
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 29, 2009, the Company operated a total of 501 stores in 47 states, the District of Columbia and Puerto Rico, including 420 Wet Seal stores and 81 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 expected sales patterns through September 2009, the timing of inventory build in the Company’s Arden B division and 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.



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