Fashion Industry discussion, review, analysis, news, and information

I came across an interesting report via Fibre2fashion.com that stated Wet Seal, Inc showed a quarterly net loss of $2.8 million.  Now the reason I find this interesting is because I used to work for Wet Seal, so I'm familiar with their corporate policies.  I can tell you that I didn't thoroughly enjoy working for them.  Managers sometimes worked very long hours and oftentimes worked six hour work weeks with no overtime pay.  Recently the company settled a lawsuit which required them to pay managers the overtime pay (of which I didn't find out about later and then it was too late to collect - darn!)

So, going back to their loss for the first quarter - I'm not surprised.  I believe the company focused too much on selling, "cutting costs", and not enough customer service, overstocked their stores making it hard for shoppers to shop, and didn't treat their employees very good.  Bottomline.