Wet Seal Inc. (WTSLA), a specialty retailer headquartered in Foothill Ranch, California, said comparable sales at stores which are open for at least a year declined 9.4 percent for the month of January. Total monthly sales reached $40 million, up 23.3 percent from last year.
The company also said same-store sales dropped 8.3 percent for the fourth quarter. Total sales for the quarter were $161.7 million, down 0.9 percent from last year.
John Goodman, the Company's Chief Executive Officer, said, "Our overall January sales results were below our expectations due to a comparable store sales decline in Wet Seal, partially offset by improved performance at Arden B.
The Company said it continues to expect its fourth-quarter loss per share, before the effect of one-time charges and non-cash asset impairments, to be $0.06.
On average, four analysts polled by Thomson Reuters expected the company to report a loss of $0.06 per share for the quarter. Analysts' estimates typically exclude special items.
For comments and feedback: editorial@rttnews.com