Orange County Business Journal

Wet Seal January Same-Store Sales Mixed

Kari Hamanaka Friday, February 8, 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.