May 23, 2003 |
Wet Seal Inc., which sells trendy clothes to girls and women, continued Thursday to pile up losses in the first quarter as comparable-store sales slumped almost 26% compared with the previous year. But the company's stock price jumped 15% as investors focused on the positive as some analysts said the retailer finally could be gaining traction as it tries to turn its business around. Shares closed at $10.05, up $1.32, on Nasdaq. The Foothill Ranch-based company lost $8.
August 26, 1997 |
Wet Seal Inc.'s board has adopted a so-called poison-pill plan to help fend off any hostile takeover bids. The company said, however, that it is not aware of any such bid. Under the anti-takeover plan, shareholders of the women's specialty apparel retailer will receive a dividend distribution of one right for each share of Wet Seal common stock. The rights, to holders of record Aug.
May 30, 2008 |
Apparel retailer Wet Seal Inc. said its fiscal first-quarter profit jumped 18% as sales at newer stores and lower expenses helped offset a decline in same-store sales. Foothill Ranch-based Wet Seal's net income climbed to $8.9 million, or 9 cents a share, from $7.6 million, or 7 cents, a year earlier. Revenue rose 3% to $142.4 million. Analysts expected profit of 7 cents a share on revenue of $141.8 million.
February 17, 1997
Wet Seal, the junior women's apparel and accessories chain, said it is abandoning its bid to acquire certain stores from County Seat, a bankrupt chain based in Dallas. Wet Seal President and Chief Operating Officer Ed Thomas tied the decision to a lack of interest from County Seat, which has described Wet Seal's offer as "grossly inadequate." Thomas said the failed attempt at buying County Seat locations won't slow his chain's growth plans.
August 11, 2005 |
Wet Seal Inc., a clothing retailer under a Securities and Exchange Commission investigation, said Wednesday that its chief financial officer had resigned. No successor has been named. Douglas C. Felderman will leave at the end of August for personal reasons, the Foothill Ranch-based company said. The company wasn't more specific. An executive search firm has been hired to find a replacement, the company said.
November 4, 2004 |
Youth-oriented retailer Wet Seal Inc. said Wednesday that it was in talks to raise $40 million through a private investor as the cash-strapped company struggled to win back its dwindling customer base and avoid a bankruptcy filing. The Foothill Ranch-based company said it was considering issuing $40 million in convertible notes to S.A.C. Capital Management, a private investor that already owns about a 4.5% stake in the retailer. The company would then seek shareholder approval.
August 2, 2002 |
Wet Seal Inc., a retailer of clothing for young women and teenage girls, said its second-quarter profit would miss expectations because sales have slowed in recent weeks. The Foothill Ranch-based company said earnings will be 12 cents to 14 cents a share in the quarter ending this week, compared with 12 cents in the year-earlier period. The average forecast of analysts polled by Thomson First Call was 17 cents.
May 28, 2005 |
Teen-oriented retailer Wet Seal Inc. reported a narrower loss Friday for its fiscal first quarter, sending its shares up nearly 9%. The company, based in Foothill Ranch, has closed more than 150 of its namesake stores in hopes of returning to profitability. Wet Seal lost $8.6 million, or 23 cents a share, in the quarter ended April 30, compared with a loss of $20 million, or 66 cents, a year earlier. Analysts, on average, had expected a loss of 41 cents a share, according to Reuters Estimates.
December 2, 2004 |
Teen retailer Wet Seal Inc.'s losses multiplied in its fiscal third quarter as sales continued to slide and the company doled out bonuses to retain key employees. The Foothill Ranch-based parent of 558 Wet Seal and Arden B. stores reported a net loss of $24.6 million, or 68 cents a share, for the 13 weeks ended Oct. 30. That compared with a loss from continuing operations of $6.4 million, or 21 cents a share, in the same period last year, when the net loss totaled $7.5 million, or 25 cents.
October 21, 2003 |
A trial to determine whether trendy apparel retailer Wet Seal Inc. is responsible for a portion of back wages owed to four garment workers who made its clothes under contract was postponed Monday. A Los Angeles County Superior Court judge rescheduled the proceedings, which are slated to begin Nov. 17. The non-jury trial was expected to last about a week. The case will focus on a California statute that was meant to clarify who is liable when garment workers are underpaid.