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Wet Seal swings to a loss in Q1
Foothills Ranch, Calif. -- Fashion retailer Wet Seal Inc. swung to a loss in its first quarter amid declining sales. The company reported a loss of $21.8 million, compared with a year-earlier profit of $3.1 million.
Sales fell 17% to $116.7 million. Total same-store sales, including e-commerce, fell 16.9%.
Wet Seal said it was challenged by weak mall traffic, higher promotional activity and disruptive weather as challenges for the quarter.
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Indulging in a New Outlet
I indulged in a shopping center grand opening on May 22 – and I’m glad I did.
Themed “Indulge,” the opening event marked the official unveiling of the nation’s first truly downtown outlet center, Outlet Collection at Riverwalk, located in the heart of New Orleans, and built by West Coast developer Howard Hughes Corp.
