Foothill Ranch-based mall retailer Wet Seal Inc. reported better than expected April sales and upped its profit outlook for the recently ended quarter.
Wet Seal, which runs clothing stores for teen girls and young women, reported a 10.2% rise in April sales at stores open at least a year.
That topped the 8.8% rise analysts were looking for on average.
Wet Seal was helped out by a later Easter, which helped boost sales toward the end of the month, Chief Executive Susan McGalla said.
The company’s dominant Wet Seal chain for teen girls drove the increase with an 11.8% rise in April same-store sales.
Arden B., which targets young women, saw a 2.9% rise.
The company runs 454 Wet Seal stores and 82 Arden B. stores.
Net sales for the month grew 18.2% to $46.1 million.
Better than expected April sales led Wet Seal to up its profit outlook for the three months through April.
The company forecast a quarterly profit of $8 million, up from an earlier projection of $5 million to $7 million.
Analysts on average had been estimating a profit of $7 million.
