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FOOTHILL RANCH, Calif.--(BUSINESS WIRE)--March 8, 2007--The Wet Seal, Inc. (Nasdaq:WTSLA), a leading specialty retailer to young women, reported comparable store sales increased 5.0% for the four-week period ended March 3, 2007 compared with an increase of 29.3% for the four-week period ended February 25, 2006. Net sales for the four-week period ended March 3, 2007 were $41.2 million, compared with net sales of $36.1 million for the four-week period ended February 25, 2006, an increase of 14.2%.
Joel Waller, chief executive officer of The Wet Seal, Inc., commented: "We are pleased with the comparable store sales increase for February. Thus far, sales of merchandise for the Spring season are encouraging."
The Company expects a low single digit increase in comparable stores sales for the remaining two months of the first quarter. With the Easter holiday falling one week earlier this year, the reported sales results for March should be somewhat stronger than reported sales for April.
During the month, the Company neither opened nor closed any stores. At March 3, 2007, there were 338 Wet Seal stores and 92 Arden B stores.
The Company plans to report operating results for the fourth quarter and fiscal 2006 before the market opens on Thursday, March 29, 2007, followed by a conference call at 8:00 a.m. Pacific Daylight Time. To listen to the conference call, please dial (800) 238-9007 and provide ID#2154186. A broadcast of the call will also be available on the Company's website at www.wetsealinc.com. A replay of the call will be available through April 5, 2007. To access the replay, please call (888) 203-1112 or (719) 457-0820 and provide the ID number above.
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 430 stores in 46 states, the District of Columbia and Puerto Rico, including 338 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 increase for March and 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.
