The Rice University Neologisms Database

Later, in a little while, see you later. Used in an informal setting when saying goodbye. It can also mean lately or recently in an informal context. Used mainly by high school and college girls as a shortened version of later or lately. The –s ending is added after clipping and seems to serve no purpose other than marking the word as that said by young women. Lates when used instead of later only occurs when saying goodbye. It is more commonly substituted for lately.