The chart looks close to the top, doesn't it? I couldn't find any reason for the increase, as a matter of fact, there is talk that people are no longer extending them credit...what have you found out, and what are your thoughts?
UPDATE 1-Wet Seal postpones release of 4th-qtr results
Wed Mar 23, 2005 05:07 PM ET
(Adds details, background; previous NEW YORK)
SAN FRANCISCO, March 23 (Reuters) - Struggling youth-oriented retailer The Wet Seal, Inc. (WTSLA.O: Quote, Profile, Research) on Wednesday postponed the release of its fourth-quarter and fiscal year 2004 results until April 12, 2005.
The operator of the Wet Seal and Arden B chains, which has suffered declining sales due to lackluster demand for its clothes, did not give a reason for the postponement.
The delay comes as the company works to turn around its business and after it said in December it would close 150 underperforming stores and lay off 2,000 employees.
Wet Seal has also seen a shake-up of top management in recent months, including former chief executive Peter Whitford who resigned last November.
The company also faces an informal U.S. Securities and Exchange Commission inquiry relating to its 2004 second-quarter earnings results. |
