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More drama at J.C. Penney
In one of the stranger situations in retail right now, J.C. Penney is defending itself against charges by activist investor Bill Ackman that it’s not moving fast enough to hire a full time CEO and remedy a situation that Ackman created when the guy he picked nearly destroyed the company.
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Wet Seal grows sales during Q2, misses estimates
Foothill Ranch, Calif. – The Wet Seal Inc. reported net sales of $137.2 million during the second quarter of fiscal 2013, a 1.5% improvement from the second quarter of the previous year. However, this figure fell a bit short of the $138.5 million analysts were expecting.