Teen retailer The Wet Seal has lifted its comparable store sales forecast for the third quarter driven by its focus on a fast fashion strategy.

The company said it now expects comparable store sales to be within or slightly better than its initial estimate for a decline of 14% to 18%. It also reaffirmed its loss per share target to range between $0.13 and $0.16.

"We remain confident that, as we move into the holiday season, we will see clear signs of improvement and stability in our business, and will ultimately return to a level of sales and earnings that our fast fashion merchandising strategy has driven for many years," the retailer said.