The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from Business Wire

The Wet Seal, Inc. Announces May Comparable Store Sales Declined 8.8%

Thursday, May 31, 2012

The Wet Seal, Inc. Announces May Comparable Store Sales Declined 8.8%07:00 EDT Thursday, May 31, 2012 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 May 26, 2012, or fiscal May, as follows: Fiscal May       Net Sales         Comparable Store Sales % Change $ in Millions       % Change FromLast Year This Year       Last Year Wet Seal $ 33.8       -7.0 % -8.7 %       2.8 % Arden B   7.5       -6.9 % -9.3 %       3.2 % Total $ 41.3       -7.0 % -8.8 %       2.9 %   Susan McGalla, chief executive officer of The Wet Seal, Inc., commented: “May sales were in line with our expectations. “At Wet Seal, down-trending fashion knit tops and screen tee businesses overshadowed growth in several other categories. Through the remainder of the quarter, we will continue to shift our assortment toward strong performing categories, including woven tops, jeans, dresses and shoes, to better position Wet Seal for the back-to-school season. “At Arden B, the bottoms category performed well, while other categories declined. We remain focused on building our bottoms business and improving our tops assortment to provide more compelling outfitting solutions for our customer, as well as maintaining our strength as a dress destination. “E-commerce sales declined 5% in May compared to a 6% decrease for the prior year month. The level of May sales decline reflects improvement from our recent trend. In June, we expect continued improvement as we anniversary the beginning of strategic efforts to transition to a higher penetration of full-price selling online and better align merchandising in the e-commerce channel with our stores.” 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 May 26, 2012, the Company operated a total of 554 stores in 47 states and Puerto Rico, including 470 Wet Seal stores and 84 Arden B stores. The Company's products can also be purchased online at or For more Company information, visit 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 expected e-commerce sales trend improvement, 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