Foothill Ranch-based mall retailer Wet Seal Inc. reported a less than expected decline in September sales and said it sees quarterly profits coming in at the high end of its forecast.
Sales at stores open at least a year declined 0.7% last month from a year earlier, according to Wet Seal.
Analysts had expected a same-store drop of 2.3%.
The company, which runs 512 clothing stores for teen girls and young women, was dragged down by a sales decline at its smaller Arden B. chain.
The chain, which sells clothes for young women, saw a same-store sales drop of 5.5% for the month.
The company’s dominant Wet Seal chain for teen girls rose 0.1%.
The overall decline reversed a same-store sales gain in August, which was the first for the company since March and February.
Total sales for September rose 2% to $51.2 million.
Wet Seal said it sees its profit for the current quarter coming in at the high end of its expectations.
The company has forecast a profit for the three months through October of $1 million to $3 million.
Analysts on average expect a profit of $2 million.
