Wet Seal seeks new CFO

Leadership changes continue at struggling specialty retailer Wet Seal. Just one month after appointing Edmond Thomas as CEO, following John D. Goodman’s departure, CFO Steve Benrubi has resigned. He will remain with the company through December 1 to assist with the transition.



The company said it plans to search for a new CFO, but offered no further details.



Benrubi was appointed EVP and CFO in September 2007. Benrubi previously served as VP, corporate controller since 2005. Prior to Wet Seal, he served as VP, corporate controller of CKE Restaurants, a public corporation and the parent company of several fast food restaurant chains, including Carl's Jr. and Hardee's. Prior to his employment with CKE Restaurants, Benrubi served as treasurer of Champion Enterprises, a public corporation and manufacturer and retailer of manufactured homes, and as SVP, treasurer and VP, corporate controller for Domino’s Pizza.



“I thank Steve for his service and loyal dedication to Wet Seal during the past nine years. Steve was an instrumental leader through many challenges and successes throughout his tenure. On behalf of the entire company, we wish him well in his future endeavors,” said Thomas.



Thomas rejoined the company as CEO and member of the board on Sept. 8. He served as its executive chief and director from 2007 to 2011 and as president, chief operating officer and director from 1992 to 2000.



The retailer's preliminary second quarter results show that consolidated comparable store sales 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. Comparable store sales results include e-commerce, which actually increased 11.4%, including a 25.1% increase at Wet Seal, offset by a 24.6% decrease at Arden B during its wind-down.