Edmond Thomas is returning for his third tour of duty — and his second tenure as chief executive officer — at The Wet Seal Inc. after the troubled teen and contemporary specialty chain dismissed John Goodman from the post following a trying 20-month tenure.Thomas was most recently a director of KarpReilly LLC, the private investment firm with holdings in Trina Turk and Adrianna Papell and numerous ventures outside fashion, after serving as president and ceo of Wet Seal from October 2007 to January 2011. He was president and chief operating officer of the Foothill Ranch, Calif.-based chain between 1992 and 2000 before joining Tilly’s as president and co-ceo.Thomas will assume Goodman’s seat on Wet Seal’s board when his appointment takes effect on Monday. Goodman, who joined Wet Seal as a director in September 2012 before succeeding Susan McGalla as ceo four months later, had a contract that ran through 2016 and will receive $819,200 in severance payments and have 100,000 shares of restricted stock vest immediately upon execution of the termination agreement. He was previously executive vice president of apparel and home at Sears Holdings Corp., ceo of Charlotte Russe Holding and president and ceo of Mervyns until the time of its 2008 bankruptcy.His service with Wet Seal included the closure of its Arden B. division, the reduction in the size and compensation of its board and interest from activist investor The Clinton Group in taking the chain private.Including Arden B. exit costs and asset impairment charges, Wet Seal recorded a first-quarter net loss of $21.8 million versus a year-ago profit as sales declined 16.9 percent to $116.7 million. On average, analysts expect a second-quarter loss of 10 cents on a 9.4 percent decline in revenues, to $124.3 million, when it reports results on Sept. 10. Last year it reduced its net loss to $38.4 million from $113.2 million in the prior year while sales fell 8.7 percent to $530.1 million.Thomas is currently a director of New York & Co. Inc. His new agreement with Wet Seal is for a term of three years and carries an annual salary of $975,000 plus a signing bonus of $75,000 and performance-based and restricted stock units.Word of Goodman’s departure and Thomas’s appointment was made in a Form 8-K disclosure with the Securities and Exchange Commission.
“I’d been living in L.A. for the last year, and I felt like New York had such a need for a space where it can be just an oasis to take care of yourself,” said @cleanfooddirtycity of creating @clean.market, an upscale holistic wellness center in NYC. A market in the front of the shop sells a mix of clean beauty and skin products and apothecary-style items, while a cafe-style functional food and tonic bar is set up in the middle of the space, serving lattes and superfood smoothies. See more photos of the space on WWD.com. #wwdeye
“We don’t fight because we are just friends and respectful of each other’s projects. Max is even producing my solo album...I think what keeps us together is five o’clock white wine time,” said singer/songwriter @iamalexwinston of working with friend @alexmaax on their new EP “Crown.” Together they make up pop duo @postprecious, and their new EP is inspired by Hershenow’s devotion to the gay dance party scene. Head to WWD.com to read more about how these two artists came together. #wwdeye (📷: @dandoperalski)
@zoeisabellakravitz has been named the new international face and spokesperson of Black Opium, the women’s fragrance from @yslbeauty. The 29-year-old actress and musician, who has already served as the global ambassador of YSL makeup, will appear in the new campaign debuting on August 18. Get all the details on WWD.com . #wwdbeauty (📷: @zefashioninsider)
Influence mastermind Kylie Jenner and her cosmetics empire are going strong. But how might the surprise announcement that’s she’s no longer enhancing her lip affect her business? @hernameislex investigates. Link in bio. #wwdbeauty
Replete with 🔥 detail and a logo name tag, the Prada camp shirt began as a bold style statement on Pusha T at Governors Ball in early June. Now, it’s emerged as a favorite amongst street-style stars throughout the past month’s men’s collections, writes WWD Eye Editor @leighen. The flame-licked shirt also found a home on the one and only Jeff Goldblum, and seems to be the favorite for fashion gents this summer. And who can blame them? It works with track pants and Chanel sneakers, black trousers and bold glasses or worn open with a T-shirt and sneakers. But a winner may have been crowned. Per stylist Marc Goehring, himself a wearer of the look, #jeffgoldblumworeitbetter. #wwdeye #wwdmens
Exclusive: @longchamp is planning to stage its first official runway show at New York Fashion Week this fall. The French leather goods firm has expanded into ready-to-wear as part of its repositioning as a lifestyle brand. The show, scheduled for September 8, will also cap the brand’s 70th anniversary celebration. Get all the details on WWD.com. #wwdnews #wwdfashion (📷: @dominiquemaitre)
The Duke and Duchess of Sussex undertook their first overseas engagement as a married couple in Dublin. The trip included multiple events and outfits changes, including this black dress by @emiliawickstead that Meghan Markle wore for a party at the British Ambassador’s home. #wwdfashion #royals