Fashion retailer closes two Valley locations

Staff report

YOUNGSTOWN

Wet Seal Inc., a national fashion retailer for teen girls and young women, is closing two locations in the Mahoning Valley.

Monday was the last day of business for the locations at Southern Park Mall in Boardman and Eastwood Mall in Niles, said an assistant manager at Southern Park.

The assistant manager said they were notified about the closing last Friday, part of more than 300 closings nationwide.

Net sales for the third quarter in 2014 totaled $104.3 million compared with $114.9 million during the same period a year ago.

At that time, the company operated 528 stores in 47 states and Puerto Rico and already had expected that approximately 60 of those stores would close by the end of the year.

A spokeswoman from Wet Seal declined to comment.

Joe Bell, director of corporate communications for Cafaro Co., said the store did not renew its lease at Eastwood Mall.

“These things do happen in the retail world,” Bell said. “It’s unfortunate.”

Bell said the Cafaro Co. would market the space to potential retailers.