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FOOTHILL RANCH, Calif.--(BUSINESS WIRE)--Aug. 31, 2006--The Wet Seal, Inc. (Nasdaq:WTSLA), a leading specialty retailer to young women, reported that comparable store sales increased 8.7% for the four-week period ended August 26, 2006, compared with an increase of 48.3% in the same period a year ago. Net sales for the four-week period ended August 26, 2006 were $51.2 million, compared with net sales of $45.4 million in the same period last year, an increase of 12.7%.
Joel Waller, chief executive officer of The Wet Seal, Inc., commented: "At the Wet Seal division, our back-to-school season sales performance is strong and we are seeing sales increases in every significant product category. At Arden B, our fall collection and new marketing efforts were also well received as demonstrated by positive comparable sales increases that directly correlate with the introduction of the fashions developed by our new merchant team."
The Company indicated that for September, it expects a comparable store sales increase in the low to mid single digits.
During the month, the Company opened 4 Wet Seal stores, and at August 26, 2006 there were 318 Wet Seal stores and 92 Arden B stores.
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 408 stores in 46 states, the District of Columbia and Puerto Rico, including 317 Wet Seal stores and 91 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 an expected comparable store sales increase for September 2006. 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 this forward-looking statement. Such factors include, but are not limited to, those described in the Company's Form 10-K for the fiscal year ended January 28, 2006, as filed with the Securities and Exchange Commission. This news release contains results reflecting partial year 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.
John J. Luttrell (EVP and CFO), 949-699-3918
SOURCE: The Wet Seal, Inc.
