|
|
Article: Wet Seal Swims Against Rough Tide
- Article from:
- Orange County Business Journal
- Article date:
- August 11, 2008
- Author:
CopyrightCopyright CBJ, L. P. Aug 11-Aug 17, 2008. Provided by ProQuest LLC. (Hide copyright information)
|
APPAREL: CEO leads turnaround; shares up for year, despite pullback
Foothill Ranch-based Wet Seal Inc. is in a turnaround that's not above some fits and starts.
In July, the operator of mall stores selling clothes for girls and young women saw a disappointing 8.2% drop in sales at stores open at least a year.
Wall Street analysts had been expecting a 2.5% drop in same-store sales for the month.
The poor showing, driven by Wet Seal's struggling Arden B. chain for young women, put a dent in the company's soaring stock last week. But not enough to erase a surge this year on investor hopes of a rebound.
Shares of the company were up nearly 90% for the year last week with a market value of about ...