Wet Seal January Same-Store Sales Mixed
Thursday, February 7, 2013
Foothill Ranch-based Wet Seal Inc.’s teen and contemporary retail chains saw mixed results on same-store sales in January.
The company operates 468 Wet Seal stores for teens and 62 Arden B stores for young women.
"Our overall January sales results were below our expectations due to a comparable store sales decline in Wet Seal, partially offset by improved performance at Arden B,” said Chief Executive John Goodman in a statement.
Wet Seal stores saw a 13.4% decline in same-store sales compared to a year earlier, while Arden B posted a jump of nearly 23%.
Overall same-store sales for January were down 9.4%.
Analysts on average expected an overall decline of 2.3%.
Wet Seal said last year it would stop reporting same-store sales after January, in line with moves made by a number of retailers over the past few years.
Shares of Wet Seal closed up about 1% on Thursday to a market value of $260.8 million.
