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Tuesday, Mar 19, 2024
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Wet Seal Slips on Weak Sales of Tops, Jewelry

Foothill Ranch-based teen retail chain Wet Seal Inc. marked a 7.8% slide in March in stores open at least a year.

Analysts on average had expected a 6% decrease in same-store sales. Wet Seal Chief Executive Susan McGalla said in a statement that the company’s March performance was in line with the company’s expectations.

Wet Seal operates its 469-store namesake chain for teen girls and an 84-store Arden B chain for young women. Both divisions reported monthly declines.

“We remain focused on maintaining a strong dress business while building strength in the bottoms category,” McGalla said. “In addition, we are working to improve our tops assortment, which we expect will provide more compelling outfitting solutions for the customer.”

Same-store sales at the chain’s namesake Wet Seal stores fell 7.6% last month, compared with a year-earlier period, on weak performance in the tops and jewelry categories. The chain said Wet Seal stores marked monthly successes in its bottoms, dresses and shoe businesses.

Same-store sales at its Arden B stores fell 8.6% in March. Arden B’s bottoms, fashion dresses and jewelry performed well, while its tops business declined, the company said.

“For the month, E-commerce sales declined 17%, as we continue our strategic efforts to transition to a higher penetration of full-price selling online and better align merchandising in this channel with our stores,” McGalla said.

―Kari Hamanaka

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