Content about Wet Seal Inc.

May 9, 2013
Wet Seal to pay $7.5 million in discrimination lawsuit

Wet Seal Inc. agreed to pay $7.5 million to settle a federal racial discrimination lawsuit that accused retailer of firing black employees because they didn’t fit the retailer’s “brand image.”

Philadelphia -- Wet Seal Inc. agreed to pay $7.5 million to settle a federal racial discrimination lawsuit that accused retailer of firing black employees because they didn’t fit the retailer’s “brand image.”
   
The NAACP Legal Defense and Education Fund represented the plaintiffs in the class-action effort. The lawsuit alleged that former top Wet Seal executives denied equal pay and promotion opportunities to black store managers or removed them outright, replacing them with white employees.

October 10, 2012
Wet Seal names Clinton Group nominee as chairman

Wet Seal Inc. said it has named Clinton Group nominee Lynda Davey as chairman of the board.

Foothill Ranch, Calif. -- Wet Seal Inc. said Wednesday it has named Clinton Group nominee Lynda Davey as chairman of the board. Davey is the former chairman and CEO of Avalon Group Ltd. and will replace the recently departed Harold Kahn.

The announcement follows earlier news that four Clinton Group nominees joined the Wet Seal board of directors: Davey, Dorrit Bern, Mindy Meads and John Mills.

 

September 24, 2012
Report: Activist investor group seeks to replace majority of Wet Seal board

Wet Seal Inc. sent a letter to its shareholders saying activist investor Clinton Group is looking to replace most of the retailer's board with its own nominees, Reuters reported.

New York -- Wet Seal Inc. sent a letter to its shareholders saying activist investor Clinton Group is looking to replace most of the retailer's board with its own nominees, Reuters reported.

Wet Seal urged its shareholders to reject Clinton's five-member slate, according to a filing with regulators on Sept. 24, the report said.

January 28, 2009
Wet Seal Cuts Management, Corporate Jobs

Wet Seal Inc. said Wednesday it has eliminated 41 management and corporate jobs beginning in fiscal 2009....

November 5, 2008
Specialty Apparel Retailers Post Weak Sales, With Some Exceptions

The nation’s specialty apparel retailers took a beating in October, as consumers continue to cut...

September 3, 2008
Retailers Report Sluggish Sales in August

Many U.S. retailers struggled with a sluggish back-to-school season this August, though some discount and...

July 9, 2008
Retailers Post Mixed June Sales Results

Shoppers, enticed by heavy discounts and armed with rebate checks, spent more freely in June,...

June 1, 2008
Wet Seal 1Q Profit Jumps 18%

Wet Seal Inc. said its first-quarter profit jumped 18% as sales at newer stores and...

March 26, 2008
Wet Seal Swings to 4Q Profit

Wet Seal Inc. said Thursday it swung to a fiscal fourth-quarter profit as the prior-year...

February 26, 2008
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Wet Seal Inc. said Tuesday its COO has resigned to become chief executive of a...

December 5, 2007
Retailers Post Mixed Sales in November

New York City The holiday shopping season got off to an uneasy start despite a...

November 28, 2007
Wet Seal Posts 3Q Loss

Foothill Ranch, Calif., ...

September 11, 2007
Wet Seal CFO Jumps to Old Navy

Foothill Ranch, Calif., ...

September 6, 2007
Wet Seal Names New President, CEO

Foothill Ranch, Calif., ...

January 25, 2006
Wet Seal Offers to Buy G+G Assets

Foothill Ranch, Calif., ...

August 31, 2005
Solid August for Many Retailers

New York City, ...

August 28, 2005
Smaller 2Q Loss at Wet Seal

Foothill Ranch, Calif., ...

August 9, 2005
Wet Seal CFO Resigns

Foothill Ranch, Calif., ...

July 12, 2005
Wet Seal Enters Compensation Agreement With Michael Gold

San Francisco, Wet...