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BUSINESS
November 16, 2000
Apparel retailer Wet Seal Inc. reported a fiscal third-quarter profit of $4 million, or 31 cents a share, 48% higher than the $2.7 million, or 22 cents a share, for last year's third quarter. The earnings came in a penny above analysts' estimates of 30 cents a share, according to a survey by First Call/Thomson Financial. Sales for the quarter ended Oct. 28 climbed 10% to $144.9 million. Wet Seal said sales at stores open for more than a year rose nearly 7%.
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BUSINESS
October 27, 2000
The Foothill Ranch automobile finance company said third-quarter net income fell nearly 35% to $1.7 million, or 32 cents a share, from $2.6 million, or 39 cents a share, for the same period in 1999. Revenue increased 4.4% to $26.2 million.
BUSINESS
October 4, 2000 | LESLIE EARNEST, TIMES STAFF WRITER
Specialty retailer Wet Seal Inc., struggling for the last year since it misjudged its market for young women's apparel, said late Tuesday that its president and chief operating officer has resigned. Edmond Thomas, who has been with the Foothill Ranch company since 1992, will depart effective Oct. 13. Thomas was responsible for Wet Seal's financial management, merchandise distribution, real estate and other matters. Thomas could not be reached for comment.
BUSINESS
July 21, 2000 | LESLIE EARNEST, TIMES STAFF WRITER
Wet Seal Inc. warned Thursday that second-quarter earnings are likely to fall sharply, coming in far below analysts' expectations. The Foothill Ranch specialty retailer has been struggling since last summer after misjudging the apparel desires of its fickle customers--mostly young females. With less than two weeks remaining in the current quarter, sales at stores open at least a year have dipped 3%. Same-store sales were off 8.5% for the full second quarter last year.
BUSINESS
July 20, 2000 | LESLIE EARNEST, TIMES STAFF WRITER
The exploding Oakley sunglasses worn by Tom Cruise in the blockbuster movie "M:I-2" have helped trigger a sales explosion for the Foothill Ranch-based maker of stylish eye wear. Oakley Inc. logged a record $100 million in sales in its second quarter, due in part to strong demand for snazzy styles such as the those shown in "M:I-2." Earnings surged 80%, far exceeding analysts' expectations, marking the company's second strong quarterly performance after a lackluster 1999.
BUSINESS
July 11, 2000
Perigon Medical Distribution Corp., a distributor of medical and surgical supplies, said Monday that it has moved its corporate headquarters from Laguna Hills to Towne Centre Plaza in Foothill Ranch. The company said in a press release that its 21 employees now occupy 10,500 square feet of space under a three-year lease. No other terms were disclosed.
BUSINESS
June 24, 2000 | From Associated Press
He runs a multimillion-dollar Foothill Ranch vitamin company whose products get rave reviews from actors Sylvester Stallone and Chuck Norris and New York Mets catcher Mike Piazza. But New Jersey officials are preparing a bitter pill for 88-year-old Jay Patrick: They want to force him to pay for the estimated $2-million cleanup at the site of a chemical company he ran for 25 years in Bergen County where about 1,000 drums of toxic solvents were found buried. Patrick acknowledges that Tect Inc.
BUSINESS
June 23, 2000
Foothill Ranch Co. and Searles Devcorp said they plan to begin construction next month on a 360,000-square-foot office complex on 18 acres in Lake Forest. The Foothill Ranch Office Campus will consist of office buildings, restaurants and a hotel. The complex is the last available business parcel in the Foothill Ranch area.
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