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News Breaks
May 27, 2014
16:11 EDTWTSLWet Seal sees completing conversion of 54 Arden B locations by end Q2
The company expects to complete the planned conversion of 54 Arden B locations to Wet Seal and Wet Seal Plus merchandise by the end of the second quarter. The conversion of 31 Arden B locations to Wet Seal Plus provides the company with a timely and low risk opportunity to further test the concept and lay the groundwork for building Wet Seal’s presence in the junior plus market. The stores will operate as Wet Seal Plus through the term of their respective leases, or longer if performance and lease renewal options warrant. The company estimates it will close 17 Arden B locations through lease expirations and the exercise of early termination provisions through the remainder of fiscal 2014. As previously announced, in FY14 the company expects to open 10 new Wet Seal stores, primarily in outlet centers and off-mall, and now estimates it will close 23 Wet Seal locations upon lease expiration. During Q1, the company opened 4 Wet Seal stores and closed 1 Wet Seal location. The company said, “We are on track with our transition work to exit the Arden B concept, including the conversion of 54 locations to Wet Seal and Wet Seal Plus merchandise, which is expected to be completed by late July. We’re particularly excited about the 31 new Wet Seal Plus stores coming on line in high visibility locations, which will allow us to quickly establish a strong foothold in the rapidly growing junior plus market.”
News For WTSL From The Last 14 Days
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September 11, 2014
10:00 EDTWTSLOn The Fly: Analyst Upgrade Summary
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09:18 EDTWTSLOn The Fly: Pre-market Movers
UP AFTER EARNINGS: lululemon (LULU), up 15%... Sigma Designs (SIGM), up 7%. ALSO HIGHER: JDSU (JDSU), up 13.8% after announcing that it will separate into two publicly traded companies... Wet Seal (WTSL), up 4.5%, upgraded at B. Riley following Q2 earnings results... Gogo (GOGO), up 5% after announcing partnership with T-Mobile (TMUS)... Digital Ally (DGLY), up 8.4% after announcing plans to introduce "bullet camera" option at October police conference. DOWN AFTER EARNINGS: Restoration Hardware (RH), down 5%... Five Below (FIVE), down 5.6%. LOWER: Radio Shack (RSH), down 8% after reporting Q2 losses, stating that it may need to pursue bankruptcy... E2open (EOPN), down 29%, downgraded at Pacific Crest and Northland after the company announced preliminary Q2 earnings results... Twitter (TWTR), down 1% after announcing that it will offer $1.3B in convertible unsecured senior notes... Crocs (CROX), down 2.6% after downgraded at Buckingham... Macy's (M), down 1.3% after downgraded at Sterne Agee.
06:33 EDTWTSLWet Seal upgraded to Buy from Neutral at B. Riley
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September 10, 2014
16:13 EDTWTSLWet Seal sees Q3 adjusted EPS (22c)-(28c), consensus (12c)
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16:10 EDTWTSLWet Seal reports Q2 non-GAAP EPS (15c), consensus (9c)
Reports Q2 revenue $121.2M, consensus $123.88M. Consolidated SSS declined 12.4%, including a decline of 11.1% at Wet Seal and a decline of 22.8% at Arden B during the wind down of that business. SSS results include e-commerce, which alone increased 11.4%, reflecting a 25.1% increase at Wet Seal, offset by a 24.6% decrease at Arden B during its wind down.
16:01 EDTWTSLWet Seal trading halted, pending news
15:50 EDTWTSLNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Restoration Hardware (RH), consensus 64c; Men's Wearhouse (MW), consensus $1.06; Five Below (FIVE), consensus 14c; Sigma Designs (SIGM), consensus (8c); Wet Seal (WTSL), consensus (9c).

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