The Wet Seal, Inc.(WTSL)- NASDAQ
  • Oct. 10, 2012, 12:44 PM

    In a bit of a twist, Clinton Group says it won't push Wet Seal (WTSLA -1.2%) to sell itself after it landed some of its candidates on the retailer's board. The firm would like to see Wet Seal hire a top-notch CEO and turn around its business before going down the path of taking bids. If all goes well, a $5-$8 sale price could eventually be struck.

    | Oct. 10, 2012, 12:44 PM
  • Oct. 10, 2012, 11:10 AM

    Wet Seal (WTSLA +1.5%) replaces four of its board members with nominees from Clinton Group, setting up the activist investor group in a better position to convince the company to place itself up for sale.

    | Oct. 10, 2012, 11:10 AM
  • Oct. 4, 2012, 11:26 AM
    September retail winners and losers: With J.C. Penney and Sears Holdings bleeding customers it was Gap (GPS), Limited Brands (LTD -0.1%), and TJX Companies (TJX +0.9%) showing positive trends and possibly picking up some shopping refugees from the embattled department store chains. Target (TGT +0.8%) and Costco (COST +0.9%) only held serve for the month, while Kohl's (KSS -1.8%) appears to have misfired with its strategies. Alarming results continue at Wet Seal (WTSLA -0.6%) and Fred's (FRED +0.3%). (Retail sales roundup)
    | Oct. 4, 2012, 11:26 AM
  • Oct. 4, 2012, 7:06 AM
    Wet Seal (WTSLA) Sep same-store sales: -12.7% beats consensus of -15.5%. Total sales -9.9% to $48.3M. (PR)
    | Oct. 4, 2012, 7:06 AM
  • Oct. 1, 2012, 9:49 AM

    Brean Murray adds some color to the drama surrounding Wet Seal (WTSLA +1.7%), saying the company is not a likely private takeover candidate. Of late, the company has been dueling with the Clinton Group over potential new additions to the board.

    | Oct. 1, 2012, 9:49 AM
  • Sep. 27, 2012, 12:57 PM

    The Clinton Group says the proxy firm ISS backs two of its nominees for Wet Seal's (WTSLA +2.3%) board. The retailer appeared to try a bit of PR sleight-of-hand by announcing previously that ISS has rejected efforts to replace six members of the company's board while de-emphasizing that it approved some degree of change.

    | Sep. 27, 2012, 12:57 PM
  • Sep. 25, 2012, 7:00 AM

    Wet Seal (WTSLA) issues a letter to shareholders urging them to reject an effort from Clinton Group to replace board members. The company maintains the activist investor firm doesn't have any experience in teen retail or any semblance of a business strategy.

    | Sep. 25, 2012, 7:00 AM
  • Aug. 31, 2012, 1:57 PM

    The Clinton Group continues to put the heat on Wet Seal (WTSLA -0.5%) with a boosted stake (SEC 8-D) in the retailer and a recharged effort to place its nominees on the board. Selling trendy clothes to teenagers has proven to be a struggle this year - just ask Abercrombie & Fitch - but management has also misfired on various fronts.

    | Aug. 31, 2012, 1:57 PM
  • Aug. 30, 2012, 7:26 AM

    Wet Seal (WTSLA) continues to see sales evaporate, with both its Arden B and Wet Seal brands showing double-digit Y/Y declines. E-commerce sales were about the only non-dismal part of the report, increasing 0.3% to mark the first monthly increase since April 2011.

    | Aug. 30, 2012, 7:26 AM
  • Aug. 30, 2012, 7:14 AM
    Wet Seal (WTSLA) same-store sales: -18.3%. Total sales -15.9% to $48.8M. (PR)
    | Aug. 30, 2012, 7:14 AM
  • Aug. 22, 2012, 4:27 PM

    The Clinton Group says it intends to solicit stockholders of The Wet Seal (WTSLA) for the removal and replacement of four members of the Board of Directors and to fill the one existing vacant position. They intend to replace them with independent professionals who will seek to maximize value by improving merchandizing and operations, optimizing its capital structure and pursuing a strategic transaction. Clinton Group, together with its affiliates, owns more than 5% of the outstanding stock. Shares -2.4% AH.

    | Aug. 22, 2012, 4:27 PM
  • Aug. 21, 2012, 4:11 PM
    Wet Seal (WTSLA): FQ3 EPS of -$0.07 in-line. Revenue of $135.3M (-9% Y/Y) misses by $1.3M. Shares +0.3% AH. (PR)
    | Aug. 21, 2012, 4:11 PM
  • Aug. 7, 2012, 11:15 AM
    Aeropostale (ARO +6.5%) leads the charge of specialty retailers higher after Redbook Chain Store Sales numbers came in above the forecasts of analysts. Companies specializing in selling to women and teens have taken some of the sharpest blows this summer in the sector. Advancers: RUE +2.3%, ZUMZ +2.4%, WTSLA +2.2%, BODY +4.2%, CATO +3.3%.
    | Aug. 7, 2012, 11:15 AM
  • Aug. 2, 2012, 7:01 AM

    Wet Seal (WTSLA) same-store sales: -15.6% misses consensus of -14.0%. Total sales -12.9% to $40.4M. (PR)

    | Aug. 2, 2012, 7:01 AM
  • Jul. 31, 2012, 7:19 AM

    Wet Seal (WTSLA) confirms that it received requests from the Clinton Group asking it to take various strategic actions on the behalf of shareholders. The company says it won't be pressured into making a hasty decision.

    | Jul. 31, 2012, 7:19 AM
  • Jul. 23, 2012, 1:40 PM

    Shareholder Clinton Group calls on the board of Wet Seal (WTSLA -11.5%) to sell the company, expecting a sale could bring shareholders $5-$8/share, given recent transaction multiples and premiums in the retailing industry. Earlier today, the women's apparel retailer fired its CEO after same-store sales fell for 11 months in a row.

    | Jul. 23, 2012, 1:40 PM
Company Description
Wet Seal Inc is a national multi-channel specialty retailer selling fashion apparel and accessory items designed for female customers through its stores and e-commerce websites.
Sector: Services
Industry: Apparel Stores
Country: United States