Wet Seal's comparable store sales likely to fall in April
01 May '07
1 min read
The Wet Seal Inc announced that it believes its comparable store sales for fiscal April 2007 will decrease between 8% to 10%, as compared to prior guidance that called for a low single digit decrease in this measure. The estimate for April 2007 compares to a 17.0% increase reported for April 2006.
The Company now expects comparable store sales for its fiscal first quarter of 2007 will be in the range of 2% to 3% compared to a 20.0% increase reported for the first quarter of fiscal 2006.
With Easter being one week earlier this year, there was a shift in sales from April into March, causing a distortion in reported results in each of those months.
For the combined two month period, the Company expects its comparable store sales will increase in the range of 1% to 2%.
Finally, the Company indicated it remains comfortable with its prior first quarter earnings guidance.
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