Content about Wet Seal Inc.

July 31, 2014

he Wet Seal Inc. has named Iris Mobile as its mobile messaging agency. Iris Mobile will support the brand's mobile marketing programs with Rich Media Messaging (RMM) to help the retailer strengthen its presence and connect more personally with its mobile customers.

Foothill Ranch, Calif. – The Wet Seal Inc. has named Iris Mobile as its mobile messaging agency. Iris Mobile will support the brand's mobile marketing programs with Rich Media Messaging (RMM) to help the retailer strengthen its presence and connect more personally with its mobile customers.

May 27, 2014

Fashion retailer Wet Seal Inc. swung to a loss in its first quarter amid declining sales

Foothills Ranch, Calif. -- Fashion retailer Wet Seal Inc. swung to a loss in its  first quarter amid declining sales. The company reported a loss of $21.8 million, compared with a year-earlier profit of $3.1 million.

Sales fell 17% to $116.7 million. Total same-store sales, including e-commerce, fell 16.9%.
 
Wet Seal said it was challenged by  weak mall traffic, higher promotional activity and disruptive weather as challenges for the quarter.

April 8, 2014

The board of directors of Wet Seal Inc. has decided to reduce the cash compensation for its directors by 20% for the remainder of fiscal 2014.

Foothill Ranch, Calif. -- The board of directors of Wet Seal Inc. has decided to reduce the cash compensation for its directors by 20% for the remainder of fiscal 2014. Wet Seal will also reduce the number of director nominees to be elected at its upcoming annual meeting from nine to seven.

Kathy Bronstein recently resigned from The Wet Seal’s board of directors, effective April 4.

May 9, 2013

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 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

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

November 5, 2008

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

September 3, 2008

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

July 9, 2008

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

June 1, 2008

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

March 26, 2008

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

February 26, 2008

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

December 5, 2007

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

November 28, 2007

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September 11, 2007

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August 31, 2005

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July 12, 2005

San Francisco, Wet...