Wet Seal (WTSLA) Comps Down 5.4% in November

November 29, 2012 7:04 AM EST
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The Wet Seal, Inc. (NASDAQ: WTSLA) reports sales fell 4.6 percent to $48.8 million with comps down 5.4 percent in November.

"November comparable store sales were modestly ahead of our expectations. Our continued re-merchandising efforts at Wet Seal drove sequential improvement in sales trend as the month progressed. We have cleared through the majority of our back-to-school and fall inventories and expect to clear through the remainder by early December. We are also seeing encouraging signs of regaining our long-time customers and believe we will continue to do so as we make further enhancements to our merchandise assortments to align with their fashion tastes.

“Lastly, we estimate Super Storm Sandy negatively impacted our comparable store sales for the month by approximately 1%. Our thoughts go out to those affected by the storm, and we wish for a rapid recovery and return to normal for all.”

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