Content about The Wet Seal Inc.

April 25, 2014

The Wet Seal Inc. will begin winding down its Arden B brand. Arden B currently operates 54 mall-based stores and an e-commerce website.

Foothill Ranch, Calif. - The Wet Seal Inc. will begin winding down its Arden B brand. Arden B currently operates 54 mall-based stores and an e-commerce website.

March 21, 2014

The Wet Seal Inc. shrank its net loss to $27.5 million during the fourth quarter of fiscal 2013 from $85.8 million in the same quarter a year earlier.

Foothill Ranch, Calif. – The Wet Seal Inc. shrank its net loss to $27.5 million during the fourth quarter of fiscal 2013 from $85.8 million in the same quarter a year earlier. Net sales slipped 23% to $124.8 million from $161.6 million and same-store sales dropped 16%.

March 10, 2014

The Wet Seal Inc. has appointed Deena Varshavskaya, Nancy Lublin and Adam Rothstein as new independent members of the company’s board of directors.

Foothill Ranch, Calif. -- The Wet Seal Inc. has appointed Deena Varshavskaya, Nancy Lublin and Adam Rothstein as new independent members of the company’s board of directors. The appointments expand the size of the board from seven to nine members.

February 6, 2014

The Wet Seal Inc. reported declines in net and same-store sales for the fourth quarter and full fiscal year 2013, compared to the same periods in the prior year.

Foothill Ranch, Calif. – The Wet Seal Inc. reported declines in net and same-store sales for the fourth quarter and full fiscal year 2013, compared to the same periods in the prior year. During the fourth quarter, Wet Seal reported net sales of $122.8 million, down 22.8%, and a 16.5% drop in same-store sales.

October 16, 2013

The Wet Seal Inc. revising its financial guidance for the third quarter of fiscal 2013 ending November 2, 2013.

Foothill Ranch, Calif. – The Wet Seal Inc. revising its financial guidance for the third quarter of fiscal 2013 ending November 2, 2013. The company now expects to report a same-store sales increase in the low-single digits, compared to previously forecast mid-single digits, as well as a larger net loss than previously estimated.

August 28, 2013

The Wet Seal Inc. swung to a profit in the second quarter, reporting net income of $1 million, compared to a net loss of $12.4 million a year earlier.

Foothill Ranch, Calif. -- The Wet Seal Inc. swung to a profit in the second quarter, reporting net income of $1 million, compared to a net loss of $12.4 million a year earlier. The retailer also announced it is introducing its Wet Seal Plus Collection, previously available only online, to 36 stores, on Aug. 30.

In addition, net sales totaled $137.2 million, up about 1% from $135.3 million in the second quarter of 2012. Same store sales grew 3.7%, while e-commerce sales remained flat. Overall results were in line with Zack’s consensus estimates.

August 8, 2013

The Wet Seal Inc. reported net sales of $137.2 million during the second quarter of fiscal 2013, a 1.5% improvement from the second quarter of the previous year.

Foothill Ranch, Calif. – The Wet Seal Inc. reported net sales of $137.2 million during the second quarter of fiscal 2013, a 1.5% improvement from the second quarter of the previous year. However, this figure fell a bit short of the $138.5 million analysts were expecting.

July 31, 2013

The Wet Seal, Inc. has selected the Demandware Commerce platform to help support omni-channel operations.

Foothill Ranch, Calif. -- The Wet Seal, Inc. has selected the Demandware Commerce platform to help support omni-channel operations. The specialty apparel retailer will leverage the solution to provide optimal online and mobile shopping services in a secure environment, integrated with its larger merchandising strategy.

February 4, 2013

The Wet Seal Inc. on Friday announced that its COO is resigning as the struggling retailer initiates a corporate workforce reduction as part of a broader cost-saving initiative.

Foothills Ranch, Calif. -- The Wet Seal Inc. on Friday announced that its COO is resigning as the struggling retailer initiates a corporate workforce reduction as part of a broader cost-saving initiative. In other moves, it will shutter two poor-performing Arden B stores.

The struggling chain, which also authorized a $25 million stock buyback program, said president and COO Ken Seipel resigned effective immediately. His position will not be filled. Instead, Seipel's duties will be shared between CEO John Goodman and CFO Steve Benrubi.

October 4, 2012

The Wet Seal Inc. encouraged its shareholders to reject efforts by its third-largest investor, Clinton Group, to gain control of the board, Reuters reported.

New York -- The Wet Seal Inc. encouraged its shareholders on Wednesday to reject efforts by its third-largest investor, Clinton Group, to gain control of the board, Reuters reported. The company's board has eight seats, of which one is vacant.

Clinton, which holds approximately 7% of Wet Seal, said retailer earlier in the day backtracked on an offer, made via an investment banker, for four directors to resign in exchange for the activist investor ending its move, according to the report.

September 20, 2012

The Wet Seal Inc. said it has dropped its temporary shareholder rights plan, citing feedback from stakeholders, and has proposed to expand its board to include two nominees of activist investor Clinton Group.

Foothills Ranch, Calif. -- The Wet Seal Inc. said Thursday it has dropped its temporary shareholder rights plan, citing feedback from stakeholders, and has proposed to expand its board to include two nominees of activist investor Clinton Group.

In July, Clinton Group, which owns approximately 7% of Wet Seal, called for a sale of the retailer, expressing dissatisfaction with its performance, and made a play for four seats on the board. In response, the retailer adopted a temporary shareholder rights plan with a 10% trigger.

October 22, 2008

The Wet Seal Inc. said Thursday that Harold Kahn left the board, effective immediately. The...

January 27, 2008

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January 30, 2006

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September 14, 2005

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