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More on Wet Seal (WTSLA): Q1 misses across the board on a 5% Y/Y decline in total revenue. Net...

More on Wet Seal (WTSLA): Q1 misses across the board on a 5% Y/Y decline in total revenue. Net earnings also declined 6% versus the year ago period, as top line margins were hit by dismal comp store sales numbers. CEO Susan McGalla commented: "We are disappointed with our first quarter results and recent sales trends at both Wet Seal and Arden B. We are taking immediate actions to rebalance the assortments towards stronger selling categories."

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