This morning Wet Seal management presented at a retail oriented investor conference in Southern California. If you're interested, you may find a webcast replay in the investor relations section of the West Seal web site. This was the first time I had heard company CEO Thomas speak. My impression is that he is a no nonsense type guy who knows the industry very well.I especially liked that Mr. Thomas chose to review Wet Seal's business history since 2001. This was helpful to me as a relatively new stock owner here. He was frank about mistakes prior management made in many facets of the business, and he gave a broad outline of how improvements continue to be made in several different areas. One significant point I had not realized before today was Wet Seal's continuing transition towards lower retail price point merchandise. This is probably a good sense strategy if the US is in a slower consumer spending environment. Following Thomas company CFO Benrubi talked about the company's financial position and offered some limited forward guidance. I was pleased to learn that Wet Seal decided to raise their Q4 guidance numbers . Also, the company strategy of relatively small new store growth for the first half of 2008 is probably a wise move considering the soft macroeconomic consumer spending environment. All in all Thomas and Benrubi presented themselves and the company has a professional operators capable of making ends meet in a challenging retail climate while staying in position to maximize returns should the consumer spending climate improve. I bought more WTSLA shares following todays presentation.
More than likely, it sounds like the same presentation they made at their Investor Meeting a month or so ago. That presentation is available to download from the company website. Thomas & Co. have a definitive plan and we will see it materialize in a higher stock price. Not sure if it came up today, but Thomas is also a management alum of Forever 21. He knows the industry very well and and will make his mark on this turnaround. Keep in mind, his options don't even come into the money until $5.
I think the investor presentation you're talking about was the company sponsored deal about two months ago ?Anyway, that webcast replay expired before I came to buy the stock and start monitoring the company.