By and  on July 23, 2012

An activist investment group is seeking a sale of The Wet Seal Inc. after the retailer’s board on Monday parted ways with chief executive officer Susan McGalla.

McGalla departed Monday. While the company did not provide a reason for her exit, Wet Seal posted 11 consecutive months of comparable-store sales declines under her tenure. She succeeded Ed Thomas in January 2011. McGalla was president and chief merchandising officer at American Eagle Outfitters Inc. until January 2009, when her employment contract expired.

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