The Wet Seal declares Aug same store sales rise 8.7%
01 Sep '06
2 min read
The Wet Seal Inc, a leading specialty retailer to young women, reported that comparable store sales increased 8.7 percent for the four-week period ended August 26, 2006, compared with an increase of 48.3 percent in the same period a year ago.
Net sales for the four-week period ended August 26, 2006 were $51.2 million, compared with net sales of $45.4 million in the same period last year, an increase of 12.7 percent.
Joel Waller, chief executive officer of The Wet Seal Inc, commented: "At the Wet Seal division, our back-to-school season sales performance is strong and we are seeing sales increases in every significant product category."
"At Arden B, our fall collection and new marketing efforts were also well received as demonstrated by positive comparable sales increases that directly correlate with the introduction of the fashions developed by our new merchant team."
The Company indicated that for September, it expects a comparable store sales increase in the low to mid single digits.
During the month, the Company opened 4 Wet Seal stores, and at August 26, 2006 there were 318 Wet Seal stores and 92 Arden B stores.
Headquartered in Foothill Ranch, California, The Wet Seal Inc is a leading specialty retailer of fashionable and contemporary apparel and accessory items.
The Company currently operates a total of 408 stores in 46 states, the District of Columbia and Puerto Rico, including 317 Wet Seal stores and 91 Arden B stores.
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