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Compiled by Anne Michaud Times staff writer

Seal of Approval: Trendy women’s clothier The Wet Seal Inc. has announced a 35% sales increase over the comparable quarter last year in its company’s first financial report since going public in July.

For the second quarter ended Aug. 4, the Irvine retailer reported earnings of $2.27 million on sales of $27.7 million, contrasted with earnings of $1.19 million on sales of $18 million for the comparable quarter in 1989.

Ken Chilvers, president and chief executive, attributed the sales increase partly to the fact that the company has opened more stores. Wet Seal ended its second quarter with 80 stores, up from 68 stores at the end of 1989’s second quarter.

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However, existing stores reported sales increases of 11.4% before inflation, the company said.

Wet Seal, whose customers can watch rock videos on wall-mounted monitors as they shop, made its initial public stock offering in July, raising about $43 million. The company has said the money will be used to repay loans, upgrade a computer system, expand its Irvine distribution center and open new stores. Thirteen new outlets are planned by year’s end.

Besides California, Wet Seal has stores in Nevada, Arizona, Hawaii and Florida.

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