Wet Seal swings to a loss in Q1

Foothills Ranch, Calif. -- Fashion retailer Wet Seal Inc. swung to a loss in its  first quarter amid declining sales. The company reported a loss of $21.8 million, compared with a year-earlier profit of $3.1 million.

Sales fell 17% to $116.7 million. Total same-store sales, including e-commerce, fell 16.9%.
Wet Seal said it was challenged by  weak mall traffic, higher promotional activity and disruptive weather as challenges for the quarter.

Wet Seal announced last month that it would shut down its Arden B brand to focus on its namesake brand.

The company on Tuesday said it expects to complete the planned conversion of 54 Arden B locations to Wet Seal and Wet Seal Plus merchandise by the end of the second quarter.

Login or Register to post a comment.