The Wet Seal, Inc. Announces November Comparable Store Sales Declined 5.4%
November 29 2012 - 6:00AM
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 November 24, 2012, or fiscal November,
as follows:
Fiscal November
Net Sales
Comparable Store Sales
% Change
$ in Millions
% Change FromLast Year
This Year
Last Year
Wet Seal $ 42.4 -3.2 % -5.1 % -1.8 %
Arden B 6.4 -12.8 % -6.9 % -11.2
% Total $ 48.8 -4.6 % -5.4 % -3.1 %
E-commerce sales, which are not included in comparable store
sales, increased 7.2% in fiscal November.
The Company today issued the following statement:
"November comparable store sales were modestly ahead of our
expectations. Our continued re-merchandising efforts at Wet Seal
drove sequential improvement in sales trend as the month
progressed. We have cleared through the majority of our
back-to-school and fall inventories and expect to clear through the
remainder by early December. We are also seeing encouraging signs
of regaining our long-time customers and believe we will continue
to do so as we make further enhancements to our merchandise
assortments to align with their fashion tastes.
“Lastly, we estimate Super Storm Sandy negatively impacted our
comparable store sales for the month by approximately 1%. Our
thoughts go out to those affected by the storm, and we wish for a
rapid recovery and return to normal for all.”
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 November 24, 2012, the Company
operated a total of 556 stores in 47 states and Puerto Rico,
including 475 Wet Seal stores and 81 Arden B stores. The Company’s
products can also be purchased online at www.wetseal.com or
www.ardenb.com. For more Company information, visit
www.wetsealinc.com.
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 expectations for an improved merchandise assortment
during its fiscal fourth quarter and thereafter, 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.
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