| Business Summary | | The
Wet
Seal,
Inc.
is
a
nationwide
specialty
retailer
of
fashionable
and
contemporary
apparel
and
accessory
items
designed
for
consumers
with
a
young,
active
lifestyle.
As
of
March
15,
2001,
the
Company
operated
552
retail
stores
in
42
states,
Washington
D.C.
and
Puerto
Rico,
including
101
in
California,
53
in
Florida
and
38
in
Texas.
Of
the
552
stores,
242
operated
under
the
"Contempo
Casuals"
trademark,
225
operated
under
the
"Wet
Seal"
trademark
and
85
operated
under
the
"Arden
B."
trademark.
Arden
B.
was
introduced
as
a
retail
concept
by
the
Company
in
November
1998,
and
offers
a
collection
of
fashion
separates
and
accessories
for
all
parts
of
the
fashionable,
sophisticated,
contemporary
customer's
lifestyle.
Limbo
Lounge
was
discontinued
as
a
retail
concept
by
the
Company
at
the
end
of
fiscal
2000.
On
March
25,
2001,
the
Company
acquired
the
leases,
merchandise
inventory
and
furniture
and
fixtures
for
18
Zutopia
stores
from
Gymboree,
Inc. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | The
Wet
Seal,
Inc.
is
a
nationwide
specialty
retailer
of
fashionable
and
contemporary
apparel
and
accessory
items
designed
for
consumers
with
a
young,
active
lifestyle.
As
of
5/01,
the
Company
operated
563
stores.
For
the
13
weeks
ended
5/5/01,
sales
rose
6%
to
$137.9
million.
Net
income
totaled
$5.4
million,
up
from
$2.2
million.
Results
reflect
the
addition
of
new
stores,
a
3.5%
increase
in
same
store
sales
and
higher
margins
due
to
lower
merchandise
costs. Recent Earnings Announcement For
the
13
weeks
ended
08/04/2001,
revenues
were
135,580;
after
tax
earnings
were
3,573. (Preliminary; reported in thousands of dollars.) | More
from
Market Guide: Significant
Developments |
| | | | FY2001
Compensation | | Pay | Exer | |
| Irving Teitelbaum, 62 Chairman | -- | -- | Kathy Bronstein, 49 CEO
and Vice Chairman | $1.9M | $1.4M | Walter Parks CFO,
Exec. VP | -- | -- | Greg Scott, 38 Pres
of the Arden B. division | 286K | -- | Ann Kim, 43 Exec.
VP-Fin. | 302K | -- | Dollar amounts are as of 3-Feb-2001 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.; "Exer" is the value of options excercised during the fiscal year. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|