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Article: Company to Watch: Wet Seal Inc.
- Article from:
- Orange County Business Journal
- Article date:
- December 13, 2004
- Author:
CopyrightCopyright CBJ, L. P. Dec 13-Dec 19, 2004. Provided by ProQuest LLC. (Hide copyright information)
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Company to Watch: Wet Seal Inc.
We picked Foothill Ranch-based Wet Seal to watch in 2004 on the prospect of a turnaround. The teen retailer proved worth watching for more gloomy reasons.
Wet Seal continues to struggle with quarterly sales declines, which started in late 2002. It's seen a revolving door of executives. A bankruptcy filing continues to be on the minds of company watchers.
In November, Wet Seal struck a $56 million debt deal with SAC Capital Management LLC and other investors, who'll likely push to close many of Wet Seal's 550-some stores.
Wet Seal isn't alone. hot Topic Inc. and Abercrombie & Fitch Co. also have lost shoppers to rivals Forever 21 and Pacific Sunwear of ...