USA: Strong Trends Drive Sales At The Wet Seal
The company's comparable store sales increased 4.5 per cent for the 4-week period ended August 4, 2001 compared with the corresponding four weeks last year.
Net sales for the 13-week period ended August 4, 2001 were $135 million compared to net sales of $128 million for the 13-week period ended July 29, 2000, an increase of $7.39 million or 5.8 percent. Comparable store sales increased 3.4 percent for the 13-week period ended August 4, 2001. Net sales for the 26-week period ended August 4, 2001 were $273.49 million compared to net sales of $258.79 million for the 26-week period ended July 29, 2000, an increase of $14.67 million or 5.7 per cent. Comparable store sales increased 3.5 per cent for the 26-week period ended August 4, 2001.
"July comps were driven by strong trends in both tops and bottoms, particularly fashion denim, but were offset by some continued weakness in accessories," stated Kathy Bronstein, vice chairman and chief executive officer.
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