The Wet Seal Inc reported comparable store sales increased 10.9% for the five-week period ended April 7, 2007, compared to the five-week period ended April 8, 2006.
The Company reported a 16.2% increase in comparable store sales in March last year. Net sales for the five-week period ended April 7, 2007 were $57.6 million, compared to net sales of $47.3 million for the five-week period ended April 1, 2006, an increase of 21.8%.
Joel Waller, chief executive officer of The Wet Seal Inc commented: "We again are pleased with the comparable store sales increase this month. With Easter being one week earlier this year, we expected a significant increase in comparable store sales, and we definitely benefited from trends that reflect the strength of our fashions this spring."
"For April, we are estimating a low single digit decrease in comparable store sales resulting in an approximate 5% comparable store sales increase for the months of March and April combined. This estimate is consistent with our prior comparable store sales guidance. Our business remains strong and we are encouraged by our performance."
Headquartered in Foothill Ranch, California, The Wet Seal Inc is a leading specialty retailer of fashionable and contemporary apparel and accessory items. As of April 7, 2007, the Company operated a total of 435 stores in 46 states, the District of Columbia and Puerto Rico, including 343 Wet Seal stores and 92 Arden B stores.
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