The Wet Seal, Inc. Announces August Comparable Store Sales Declined 18.3%

The Wet Seal, Inc. (Nasdaq: WTSLA), a leading specialty retailer to young women, reported net sales and comparable store sales for the four-week period ended August 25, 2012, or fiscal August, as follows:

Fiscal August
   

 
    Comparable Store Sales

Net Sales
% Change  

 
   

% Change From

 
   

 

$ in Millions
   

Last Year

This Year
   

Last Year
Wet Seal $ 43.6 -15.8 % -18.5 % 7.3 %
Arden B   5.2     -17.0 % -16.3 %     -8.7 %
Total $ 48.8     -15.9 % -18.3 %     5.5 %

E-commerce sales rose 0.3% in fiscal August, representing the first increase since April 2011.

The Company today issued the following statement:

"August sales results were in line with our expectations. Since the start of August our aggressive return to our core expertise of fast fashion merchandising has included merchandising to a broader demographic, including the young teen customer, sourcing a wider variety of product more directly from fast fashion vendors, committing to merchandise purchases closer to time of need, and focusing our price points on our core customer - all of which have long driven success at the Company."

About The Wet Seal, Inc.

Headquartered in Foothill Ranch, California, The Wet Seal, Inc. is a leading specialty retailer of fashionable and contemporary apparel and accessory items. As of August 25, 2012, the Company operated a total of 551 stores in 47 states and Puerto Rico, including 469 Wet Seal stores and 82 Arden B stores. The Company’s products can also be purchased online at www.wetseal.com or www.ardenb.com. For more Company information, visit www.wetsealinc.com.

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: This news release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements that relate to the intent, belief, plans or expectations of the Company or its management. All forward-looking statements made by the Company involve material risks and uncertainties and are subject to change based on factors beyond the Company’s control. Accordingly, the Company’s future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. Such factors include, but are not limited to, those described in the Company’s filings with the Securities and Exchange Commission. This news release contains results reflecting partial year data and non-fiscal data that may not be indicative of results for similar future periods or for the full year. The Company will not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.

Copyright Business Wire 2010

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