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Wet Seal’s June Same-Store Sales Down More Than Expected

Foothill Ranch-based mall retailer Wet Seal Inc. on Thursday reported an 11% drop in June sales at stores open at least a year, a decline that was worse than analysts were expecting.

Wet Seal said sales at its dominant Wet Seal clothing stores for teen girls fell 11.3% last month. Sales at its smaller Arden B. chain for young women fell 10.3%.

Analysts expected an overall same-store sales decline of 9.1%.

The decline is the latest in a running string of lower monthly same-store sales for Wet Seal as it battles the worst retail downturn in recent memory.

“The retail environment remained very difficult in June, resulting in consolidated comparable store sales that were below our expectations,” Chief Executive Ed Thomas said.

The company’s Wet Seal chain faced heavily discount sales at other stores in malls where it has stores, Thomas said. The chain responded with its own price cuts, he said.

Wet Seal’s total sales for the four weeks through July 4 were $51.6 million, down 9% from a year earlier.

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