September 18, 1997 |
Wet Seal Inc. said Wednesday that it was outbid in its attempt to purchase Los Angeles-based young women's retailer Rampage Retailing Inc., which is in bankruptcy proceedings. Wet Seal did not reveal the name of the successful bidder for Rampage's 18 stores. The Irvine retailer, which first made an offer for Rampage in late July, increased its bid several times, chief executive Kathy Bronstein said in a prepared statement, but was unwilling to go higher.
May 9, 1998 |
Wet Seal Inc. Chief Executive Kathy Bronstein saw her 1997 compensation rise 26%, to $2.01 million, the company disclosed Friday in its annual proxy statement filed with the Securities and Exchange Commission. Bronstein's salary rose 7.7%, to $682,418 and her bonus, 38%, to $1.27 million. She also received $59,982 worth of Wet Seal stock. Bronstein's larger pay package follows the best year ever for the Foothill Ranch retailer of young women's apparel. Annual profits rose 39% to a record $21.
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.
September 15, 1998 |
Wet Seal Inc. said third-quarter earnings will be below expectations as same-store and catalog sales were lower due to a weaker-than-expected back-to-school season. The Foothill Ranch-based retailer of young women's casual clothes said it will earn 35 cents to 40 cents a share in the quarter ending in October, less than the 48-cent average estimate of four analysts surveyed by First Call Corp. The company earned 39 cents a share a year ago.
August 8, 1997 |
Shares of Wet Seal Inc., the nation's largest operator of mall-based stores catering to the bubble-gum set, plunged 29% on Thursday after the company said its fiscal second-quarter earnings would fall short of estimates. The junior women's apparel retailer, which operates 368 Wet Seal and Contempo Casuals shops in 35 states, said it expects to report a profit of 25 cents a share for the three months ended Aug. 2, unchanged from a year earlier, on lower revenue.
January 23, 1998 |
Look for the first-ever catalog from Wet Seal Inc. in your mailbox in the coming days. The Foothill Ranch retailer of young women's apparel shipped its catalog to 1.2 million households beginning last week. If many of the clothes offered in the 52-page book don't look familiar, that's by design. Only about 20% of the catalog merchandise can be found in Wet Seal's stores, Chief Executive Kathy Bronstein said. "We want to supplement our stores' sales, not cannibalize them," Bronstein said.
December 17, 2004 |
Retailer Wet Seal Inc. said Thursday that it had hired the chairman of a leather goods chain as its chief executive -- the third in two years. Joel N. Waller plans to begin work Feb. 1, a day after he relinquishes his post at Wilsons the Leather Experts Inc. "Joel brings a great deal of experience in the retail industry and has recently successfully achieved a restructuring at Wilsons Leather," Wet Seal Chairman Henry Winterstern said.
May 22, 1992 |
Two well-known women's apparel chains based in Orange County--Clothestime Inc. and Wet Seal Inc.--both reported strong first-quarter sales and earnings. Clothestime, a chain with a discount approach that has helped its sales soar during the recession, said that its latest first-quarter earnings were the best in five years. Profit for the three months ended April 25 was $1 million, or 7 cents a share, a 92% increase from $522,000, or 4 cents a share, for the same quarter last year.