FOOTHILL RANCH, Calif.--(BUSINESS WIRE)--April 7, 2005--Specialty retailer The Wet Seal, Inc. (Nasdaq:WTSLA) today reported net sales for the five-week period ended April 2, 2005 of $41.0 million, compared with net sales of $38.9 million for the same period last year, an increase of 5.4 percent. Comparable store sales from continuing stores increased 36.3 percent for the five-week period ended April 2, 2005, compared with a decline of 21.1 percent for the same period a year ago. The company closed 5 Wet Seal stores for the five-week period ended April 2, 2005.
Net sales for the nine-weeks ended April 2, 2005 were $70.8 million, compared with net sales of $69.6 million for the same period last year, a 1.7 percent increase. Comparable store sales from continuing operations increased 27.4 percent for the nine-week period ended April 2, 2005, compared with a decline of 17.9 percent for the same period a year ago. The company opened one Arden B. store and closed 100 Wet Seal stores and two Arden B. stores for the nine-week period ended April 2, 2005.
Mr. Joel Waller, chief executive officer of the Wet Seal, Inc. commented: "Our March comparable store sales result continues to validate our merchandise strategy for our Wet Seal division. Sales in March also benefited from the shift of Easter from April into March."
Headquartered in Foothill Ranch, California, The Wet Seal, Inc. is a leading specialty retailer of fashionable and contemporary apparel and accessory items. The company currently operates a total of 401 stores in 46 states, the District of Columbia and Puerto Rico, including 308 Wet Seal stores and 93 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 Company's opening and closing of stores, profitability and growth, demand for its products or any other 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.
CONTACT: The Wet Seal, Inc.
Investor Relations, 949-699-4804
SOURCE: The Wet Seal, Inc.