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Havertys sales drop in Q1
Atlanta – Havertys reported a 2.5% drop in sales during the first quarter of fiscal 2014 compared to the same period in the prior year, falling to $181.4 million from $186.1 million. Same-store sales declined 0.9%.
Clarence H. Smith, chairman, president and CEO of Havertys, said severe winter weather did not negatively impact all of Havertys locations.
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The Wet Seal lowers director compensation, board size
Foothill Ranch, Calif. -- The board of directors of Wet Seal Inc. has decided to reduce the cash compensation for its directors by 20% for the remainder of fiscal 2014. Wet Seal will also reduce the number of director nominees to be elected at its upcoming annual meeting from nine to seven.
Kathy Bronstein recently resigned from The Wet Seal’s board of directors, effective April 4.