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Wet Seal Cites 4Q Decrease

(Filed Under Financial and General Interest News). Wet Seal, a retailer that operates Wet Seal stores along with Arden B locations, has posted a 64.8 percent drop in fourth quarter profit ended January 31st.

Income fell to $4.3 million in the fourth quarter this year from $12.2 million during last year’s fourth quarter ended February 2, 2008.

Additionally, net sales were $154.9 million compared to net sales of $179.6 million for the fourth quarter of fiscal 2008.

The company opened and closed three Wet Seals during the quarter in addition to four Arden B locations. Currently, it operates 409 Wet Seal locations and 87 Arden B’s.

For fiscal 2009, the company expects its store count to remain flat or “decline slightly,” having 20 new store openings planned “offset by similar or slightly higher number of combined Wet Seal and Arden B closings.”

Wet Seal is a retailer, which offers apparel, swimwear, intimates and shoes. Arden B offers apparel, outerwear, shoes and accessories.

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Published 03-30-2009 by Bruna Fernandes

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