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Press release from Business Wire

The Wet Seal, Inc. Announces November Comparable Store Sales Declined 3.1%

Thursday, December 01, 2011

The Wet Seal, Inc. Announces November Comparable Store Sales Declined 3.1%07:00 EST Thursday, December 01, 2011 FOOTHILL RANCH, Calif. (Business Wire) -- 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 November 26, 2011, or fiscal November, as follows:   Fiscal November       Comparable Store Sales Net Sales % Change   % Change   $ in Millions   From Last Year This Year   Last Year Wet Seal $ 43.8 2.5 % -1.8 % 8.3 % Arden B   7.3   -8.5 % -11.2 %   -0.3 % Total $ 51.1   0.8 % -3.1 %   7.0 %   Susan McGalla, chief executive officer of The Wet Seal, Inc., commented: “November comparable store sales results were above plan, driven by better than expected results at Wet Seal. “At Wet Seal, a low single-digit comparable store sales decrease on Black Friday beat expectations, as we were comparing against our highly aggressive promotions last year. We attribute our sales performance to improved product and compelling promotional strategies executed for the Thanksgiving weekend and throughout November designed to balance sales growth with margin quality. This strategy also led to improved merchandise margin for the month that benefited from a significantly improved margin over the holiday weekend. “At Arden B, sales were in line with our expectations and continued to be disappointing outside of strength in our dress, woven bottoms and jewelry businesses. We will continue to carefully manage Arden B inventories as we identify opportunities for improvement. “For the month, the Company's e-commerce sales declined 18%, an improvement from recent trends that was driven by progress in the Wet Seal division toward better aligned merchandising between the online channel and the stores.” Ms. McGalla concluded, “We remain comfortable with our inventory levels overall as we enter December.” About The Wet Seal, Inc. Headquartered in Foothill Ranch, California, The Wet Seal, Inc. is a leading specialty retailer of fashionable and contemporary apparel and accessory items. As of November 26, 2011, the Company operated a total of 558 stores in 47 states and Puerto Rico, including 472 Wet Seal stores and 86 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 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