WALTER F. LOEB ELECTED TO BOARD OF THE WET SEAL INC.
IRVINE, Calif., May 21 /PRNewswire/ -- Fashion retailer The Wet Seal Inc. (NASDAQ: WTSLA) has elected retail analyst Walter F. Loeb to its board of directors, announced Kathy Bronstein, president and chief executive officer. Loeb is replacing H. Frederick Christie. "We are pleased to welcome someone of Walter's reputation and experience to our board," said Bronstein. "His retail knowledge and understanding will be valuable assets." Loeb is president of Loeb Associates Inc., a New York-based retail
consultancy company that has served a variety of domestic and international companies since its founding in February 1990. He also is publisher of "Loeb Retail Letter," a monthly analysis of the retail industry.
From 1974 until the founding of his company, Loeb had been senior retail analyst at Morgan Stanley & Co. Inc. and in 1984 became a principal of the same company. He previously had been vice president and retail analyst for Johnson Redbook Service, publisher of Retail Industry Research, from 1972 to 1974. From 1969 to 1972, Loeb was a retail consultant for clients in the United States and Europe. Prior to that, he held merchandising positions with The May Co./Cleveland, Allied Stores and Macy's New York. In addition to his position on the board of Wet Seal, Loeb also serves as a director for Color Tile Inc., Federal Realty Investment Trust and InterTan Inc. The Wet Seal Inc., headquartered in Irvine, is a specialty retailer of moderately priced fashionable apparel for women. It currently operates 127 stores throughout California, Arizona, Nevada, Hawaii, Florida, Texas and Washington, and recently opened its first location in Georgia. Fifteen new stores opened during fiscal 1992, and 10 are on the 1993 expansion schedule. -0- 5/21/93 /CONTACT: Alan Weinstein, CFO, or E. Lesly Martin, director of marketing, of The Wet Seal, 714-583-7629/ (WTSLA)
CO: The Wet Seal Inc. ST: California IN: REA SU: PER
BP-LS -- LA004 -- 1217 05/21/93 13:01 EDT
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|Date:||May 21, 1993|
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