B. Riley Downgrades Wet Seal (WTSL) to Sell
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March 21, 2014 9:42 AM EDT
Clinton Group, Inc. and its affiliates, the owners of more than 7% of the outstanding common stock of The Wet Seal, Inc. (NASDAQ: WTSL) sent a letter to the Chief Executive Officer of Wet Seal last night commending the Company for its recent actions, including its financing, in which Clinton Group was not involved.
"We believe Wet Seal is well positioned to emerge from the market-wide slowdown in teen apparel retailing significantly stronger than its competitors and better aligned with the teenage girl's shopping habits," said George E. Hall, Chief Executive Officer of Clinton... More
March 21, 2014 6:11 AM EDT
The Wet Seal, Inc. (NASDAQ: WTSL) reported Q4 EPS of ($0.23), $0.01 better than the analyst estimate of ($0.24). Revenue for the quarter came in at $124.8 million versus the consensus estimate of $134.74 million.
Consolidated comparable store sales declined 16.5%, including a comparable store sales decline of... More
