FOOTHILL RANCH, Calif. (AP) -- Wet Seal Inc.'s revenue at stores open at least a year dropped 8.8 percent in May as sales fell at its Arden B and namesake stores.
Analysts polled by Thomson Reuters expected a smaller decline of 8.3 percent.
Revenue at stores open at least a year is a key indicator of a retailer's health because it excludes results at stores recently opened or closed.
Wet Seal said Thursday that revenue at its namesake stores open at least a year fell 8.7 percent in May, and slid 9.3 percent at its Arden B locations.
Total revenue for the four weeks ended May 26 fell 7 percent to $41.3 million. Online sales dropped 5 percent.
CEO Susan McGalla said in a statement that the teen retailer's monthly performance was in line with expectations. She said that Wet Seal expects its results will improve in June as the Foothill Ranch, Calif., company continues its shift to selling more items at full price online and matching its online merchandise more closely with its store offerings.
Wet Seal had 554 stores in 47 states and Puerto Rico as of May 26. Last week the company reported a fiscal first-quarter loss on steep sales declines.
