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.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)