E-commerce shines some light on dim Wet Seal sales
FOOTHILL RANCH, Calif. — The Wet Seal reported that total sales declined 9.9% to $48.3 million for the month of September. Comparable-store sales fell 12.7% compared with same-store sales that were essentially flat last year.
E-commerce sales, which increased 15% for the month, were a bright spot for the company.
"Our September consolidated comparable store sales reflect progress from our comparable store sales decline of 18.3% in fiscal August. These results are in line with expectations we had at the beginning of this quarter for progressive improvements from month to month," the company said in a statement.
The company is expecting comparable-store sales for the fiscal third quarter to be within or slightly better than its initial estimate of a decline ranging from 14% to 18%. It also expects the loss per diluted share will remain within the range of its initial estimate of between 13 cents and 16 cents.