June 19, 1999 |
Shares of Wet Seal Inc. went on a roller coaster ride Friday, tumbling 18% in early trading before rallying to move into plus territory for the day in heavy Nasdaq trading. The activity came a day after the Foothill Ranch operator of fashion stores for young women warned that second quarter earnings will be disappointing because of slower sales. The stock traded as low as $21.75 a share before bouncing back to close at $26.88, up 50 cents. Volume totaled 2.
June 18, 1999 |
Wet Seal Inc. warned Thursday that second-quarter profits could be flat because of a recent dip in sales. The Foothill Ranch-based retailer of young women's apparel said sales at stores open a year or more--a key measure of growth--are "down mid-single-digit" so far this quarter. It is not yet clear what effect the slower sales will have on the company's second quarter, ending July 31. But the company said earnings could be in line with year-ago results, which were 35 cents a share, or $4.
June 11, 1999 |
Quiksilver Inc.'s stock has tumbled 17% in the two days since the Costa Mesa-based company announced impressive second-quarter financial results, including a 78.6% profit jump. The sportswear company issued a new release Thursday saying it is unaware of any events or developments that would account for the slumping price and heavy trading.
May 26, 1999 |
Pacific Sunwear of California Inc. said Tuesday that it named a new chief operating officer to help carry out aggressive expansion plans. Mark Hoffman, 50, will fill a position at the big Anaheim youth-apparel retailer that has been vacant since Greg Weaver was promoted to chief executive in 1996. "With our growth plans going forward, we really felt we needed to fill the position," said Carl Womack, chief financial officer.
May 8, 1999 |
Mossimo Inc. continued its slide in the first quarter, reporting Friday that it lost $1.5 million while sales dropped 42% in the three-month period. The sales decline was attributed in part to a narrower product line and the reduction of unprofitable accounts. The Irvine-based clothing designer has undergone a siege of belt-tightening as it struggled to rebound from difficulties that arose after shifting from its beachwear roots to more fashion-oriented apparel.
April 29, 1999 |
A judge could rule as early as today on whether to temporarily block the sale of upscale women's clothier St. John Knits Inc. of Irvine to the family that founded it. Disgruntled shareholders are asking Orange County Superior Court Judge William F. McDonald to issue a preliminary injunction that would stall the sale of the upscale women's clothing company until the case goes to trial or is settled.
April 9, 1999
Pacific Sunwear of California Inc. said Thursday that sales for the five weeks ended April 5 surged 34%, to $33.8 million. Sales at stores open at least a year--a key measure of growth--rose 7.6%. The Anaheim-based company sells surf and skate apparel and accessories at 353 stores in 43 states. Its shares fell $1.75, to $36.25, in Nasdaq trading.
April 6, 1999 |
Ocean Pacific Apparel Corp. launched a $4-million multimedia ad campaign, the surf wear maker's first major marketing blitz in a decade. Magazine ads showing slice-of-life scenes featuring "everyday beach kids" began appearing last month in various magazines, including Surfer, Surfing, Spin and Rolling Stone. Radio spots also are promoting Op's products and its annual summertime Op Pro surfing contest in Huntington Beach.
March 3, 1999 |
A Superior Court judge on Tuesday rejected a motion to have a receiver appointed to control Amen Wardy Home Stores LLC, a subsidiary of upscale women's clothier St. John Knits Inc. In an ongoing court battle with the Irvine-based St. John, the home store chain's namesakes--Amen Wardy Sr. and Amen Wardy Jr.--had asked the court to appoint the receiver. The Wardys have alleged that the home store chain has been mismanaged by St. John executives since Amen Wardy Jr.