Sales of merchandise for Spring is encouraging - Wet Seal
08 Mar '07
2 min read
The Wet Seal Inc, a leading specialty retailer to young women, reported comparable store sales increased 5.0% for the four-week period ended March 3, 2007 compared with an increase of 29.3% for the four-week period ended February 25, 2006.
Net sales for the four-week period ended March 3, 2007 were $41.2 million, compared with net sales of $36.1 million for the four-week period ended February 25, 2006, an increase of 14.2%.
Joel Waller, chief executive officer of The Wet Seal, Inc., commented: "We are pleased with the comparable store sales increase for February. Thus far, sales of merchandise for the Spring season are encouraging."
The Company expects a low single digit increase in comparable stores sales for the remaining two months of the first quarter. With the Easter holiday falling one week earlier this year, the reported sales results for March should be somewhat stronger than reported sales for April.
During the month, the Company neither opened nor closed any stores. At March 3, 2007, there were 338 Wet Seal stores and 92 Arden B stores.
The Company plans to report operating results for the fourth quarter and fiscal 2006 before the market opens on Thursday, March 29, 2007, followed by a conference call at 8:00 a.m. Pacific Daylight Time.
marketing@alchempro.com
