Wet Seal Reports May Sales DeclineThursday, May 31, 2012
Foothill Ranch-based Wet Seal Inc. reported another disappointing month for same-store sales.
Wet Seal saw sales of stores open at least a year fall 8.8% for the four weeks through May 26.
Analysts expected an 8.3% decline.
The May results reflect the ninth-straight month of falling same-store sales for Wet Seal.
The company sells clothing and accessories for teens at 470 of its namesake stores in addition to 84 Arden B stores geared to young women.
Both divisions’ same-store sales took a hit in May.
Arden B led the decline with a 9.3% decline in same-store sales, with dips in every product category except for its bottoms business.
The Wet Seal division's same-store sales fell 8.7% as a result of what Chief Executive Susan McGalla called a “down-trending’ in its mix of fashion knit tops and screen-printed T-shirts.
“Through the remainder of the quarter, we will continue to shift our assortment toward strong performing categories, incuding woven tops, jeans, dresses and shoes, to better position Wet Seal for the back-to-school season,” McGalla said.