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[QUOTE]Originally posted by cashmakers: [QB] WTSLA My short term target $8, longterm $13 Wet Seal, the women's apparel retailer, looks to be heading down the road to recovery. The company's fiscal-first-quarter (ended April 30th) share loss narrowed to $0.23, from the $0.52 deficit registered in the year-ago period. Wet Seal reduced operating expenses considerably in the period by closing more than 150 of its non-profitable stores. Meanwhile, same-store sales improved an impressive 30% in the April period. From WSJ: The Wet Seal, Inc. Announces May Comparable Store Sales Up 56.9% Business Wire (c) 2005 Business Wire. All Rights Reserved. FOOTHILL RANCH, Calif. - (BUSINESS WIRE) - June 2, 2005 - Specialty retailer The Wet Seal, Inc. (Nasdaq:WTSLA) today reported net sales for the four-week period ended May 28, 2005 of $40.0 million, compared with net sales of $33.0 million for the same period last year, an increase of 21.1 percent. Comparable store sales from continuing operations increased 56.9 percent for the four-week period ended May 28, 2005, compared with a decline of 7.8 percent for the same period a year ago. Mr. Joel Waller, chief executive officer of The Wet Seal, Inc. commented: "May represents the fifth consecutive month of comparable store sales growth since the implementation of our new merchandise strategy in January for the Wet Seal business. Our results continue to validate our strategy and we are pleased with the sales performance of both Wet Seal and Arden B." During the four-week period ended May 28, 2005, the Company opened one Wet Seal store. Headquartered in Foothill Ranch, California, The Wet Seal, Inc. is a leading specialty retailer of fashionable and contemporary apparel and accessory items. The company currently operates a total of 399 stores in 46 states, the District of Columbia and Puerto Rico, including 308 Wet Seal stores and 91 Arden B. stores. The company's products can also be purchased online at [URL=http://www.wetseal.com]www.wetseal.com[/URL] or [URL=http://www.ardenb.com]www.ardenb.com[/URL] . For more company information, visit [URL=http://www.wetsealinc.com]www.wetsealinc.com[/URL] . [/QB][/QUOTE]
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