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FOOTHILL RANCH, Calif.--(BUSINESS WIRE)--April 12, 2007--The Wet Seal, Inc. (Nasdaq:WTSLA), a leading specialty retailer to young women, reported comparable store sales increased 10.9% for the five-week period ended April 7, 2007, compared to the five-week period ended April 8, 2006. The Company reported a 16.2% increase in comparable store sales in March last year. Net sales for the five-week period ended April 7, 2007 were $57.6 million, compared to net sales of $47.3 million for the five-week period ended April 1, 2006, an increase of 21.8%.
Joel Waller, chief executive officer of The Wet Seal, Inc., commented: "We again are pleased with the comparable store sales increase this month. With Easter being one week earlier this year, we expected a significant increase in comparable store sales, and we definitely benefited from trends that reflect the strength of our fashions this spring. For April, we are estimating a low single digit decrease in comparable store sales resulting in an approximate 5% comparable store sales increase for the months of March and April combined. This estimate is consistent with our prior comparable store sales guidance. Our business remains strong and we are encouraged by our performance."
Headquartered in Foothill Ranch, California, The Wet Seal, Inc. is a leading specialty retailer of fashionable and contemporary apparel and accessory items. As of April 7, 2007, the Company operated a total of 435 stores in 46 states, the District of Columbia and Puerto Rico, including 343 Wet Seal stores and 92 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 a forward-looking statement related to the expected comparable store sales results for April 2007. This forward-looking statement relates to the 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 its forward-looking statements. Such factors include, but are not limited to, those described in the Company's Form 10-Q for the fiscal quarter ended October 28, 2006, as filed with the Securities and Exchange Commission. This news release contains results reflecting a partial year 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.
John J. Luttrell, 949-699-3918
SOURCE: The Wet Seal, Inc.
