Wet Seal to Wind Down Its Arden B Brand
Wet Seal, Inc. has announced plans to wind down its Arden B. brand. There are currently 54 mall-based Arden B. brand stores. 31 of the locations will transition to Wet Seal Plus merchandise and the remaining 23 locations will transition from Arden B to Wet Seal merchandise. Some of the stores will be closed through lease expirations and the exercise of early termination provisions. Wet Seal says 15 of the Arden B locations will close during fiscal 2014 and the rest will close in 2015.
Wet Seal CEO John D. Goodman said in a statement, "This was a difficult decision that followed a comprehensive review of the business and market dynamics. We would like to thank all of our Arden B team members for their hard work and dedication to the brand, and also extend our gratitude to our loyal customers."
Posted on April 26, 2014