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Update 1-Wet Seal July same-store sales up 50.9 pct
August 04, 2005 08:21:25 (ET)
NEW YORK, Aug 4 (Reuters) - Teen-oriented retailer Wet Seal Inc. (WTSLA,Trade) on Thursday said July sales rose 50.9 percent at U.S. stores open at least a year, sending company shares up 8 percent on premarket trading.
The company said total net sales for the four weeks ended July 30 rose 14.8 percent to $37.6 million, even as the company closed three stores during the period.
Company shares rose over 8 percent, or 50 cents, to $6.50 in premarket trading on Inet. In July of last year the stock began to tumble from its all-time-high of over $24.
Net sales for the quarter were up 19.9 percent, at $126.7 million. Comparable store sales increased 55.9 percent for the quarter, compared with a decline of 10.9 percent the previous year.
-------------------- Buy Low. Sell High. Posts: 10750 | From: The Land Of The Giants | Registered: Feb 2005
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