Filling the Gap
Specialty retailer The Wet Seal Inc. announced its Chief Financial Officer and Executive Vice President John Luttrell has resigned to take a similar position with Old Navy, a division of Gap Inc., in San Francisco. He will be replaced by Steve Benrubi, currently the company’s controller and vice president. The resignation and appointment are effective Sept. 21. The Foothills Ranch retailer operates 467 stores, including its Arden B. stores, in 47 states, the District of Columbia and Puerto Rico. In fiscal 2007, the publicly traded company lost $12.8 million on $564.3 million in revenues. In fiscal 2006, it lost $29.4 million on $500 million in revenues.
