8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8–K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15 (d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of Earliest Event Reported): May 21, 2007

THE WET SEAL, INC.

(Exact Name of Registrant as Specified in Charter)

Delaware	0-18632	33-0415940
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

26972 Burbank Foothill Ranch, California	92610
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code: (949) 699-3900

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01. Other Events.

On May 21, 2007, The Wet Seal, Inc. (the “Company”) issued a press release announcing that Mr. Joel N. Waller, the Company’s President and Chief Executive Officer, has informed the Company’s Board of Directors of his decision to step down from these positions when his employment contract expires on February 1, 2008, and that the Company has hired an executive recruiting firm to conduct a search for a chief executive officer who would succeed Mr. Waller.

A copy of this press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(a) Financial Statements of Business Acquired.

Not Applicable.

(b) Pro Forma Financial Information.

Not Applicable.

(c) Shell Company Transactions.

Not applicable.

(d) Exhibits.

99.1 Press release, dated May 21, 2007, of the Company.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

	THE WET SEAL, INC. (Registrant)
Date: May 23, 2007	By:	/s/ Steven H. Benrubi
	Name:	Steven H. Benrubi
	Title:	Vice President, Corporate Controller

EXHIBIT INDEX

Exhibit
99.1	Press release, dated May 21, 2007, issued by the Company.

EX-99.1

Exhibit 99.1

Contact:

John J. Luttrell, CFO

(949) 699-3918

THE WET SEAL, INC. ANNOUNCES DECISION OF CEO JOEL WALLER NOT TO RENEW HIS EMPLOYMENT CONTRACT IN FEBRUARY 2008; COMMENCES CEO SEARCH

FOOTHILL RANCH, Calif.—(BUSINESS WIRE)—May 21, 2007—The Wet Seal, Inc. (Nasdaq:WTSLA), a leading specialty retailer to young women, announced today that its President and CEO, Joel N. Waller, has informed the Board of Directors of his decision to step down from these positions on February 1, 2008, the scheduled expiration date of his employment agreement. The Company has engaged the services of an executive recruiting firm to assist in a search for Mr. Waller’s successor.

On behalf of the Board of Directors, Alan Siegel, Chairman of the Company’s Nominating and Governance Committee commented: “Joel Waller was responsible for reestablishing our Company as a significant force in the young woman’s specialty retail sector. He joined our Company as CEO at a critical time in our history. He quickly stabilized our business, redefined our brands and built a management team of successful retail professionals to build on the strengths of the Wet Seal and Arden B concepts. We are making solid progress with our corporate objectives to continue to develop our brands, grow our store base, and drive efficiencies to improve profit margins. We look forward to working with Joel over the next year in furtherance of these objectives. We also plan to seek Joel’s counsel in our deliberations to find a fitting successor.”

“I am most proud of the management team we have assembled to drive this business to the next level,” said Waller. “We have the right people in the right jobs, doing the right things. We have clear objectives and are making solid progress on all fronts. I plan to be actively involved with the business throughout this transition period and will be relentless in the pursuit of our objectives. Finally, I want to thank our shareholders and am confident we will continue to deliver on our commitments.”

The Company will issue its first quarter earnings release on Wednesday, May 23^rd and will host a conference call and question and answer session related thereto at 8:00 a.m. Pacific Daylight Time that day. To participate in the conference call, please dial (800) 263-8506 and provide ID#8143119. A broadcast of the call will also be available on our website, www.wetsealinc.com. A replay of the call will be available through May 30, 2007. To access the replay, please call (888) 203-1112 or (719) 457-0820 and provide the ID number above.

Headquartered in Foothill Ranch, California, The Wet Seal, Inc. is a leading specialty retailer of fashionable and contemporary apparel and accessory items. As of May 5, 2007, the Company operated a total of 448 stores in 47 states, the District of Columbia and Puerto Rico, including 356 Wet Seal stores and 92 Arden B stores. The Company’s products can also be purchased online at www.wetseal.com or www.ardenb.com. For more company information, visit www.wetsealinc.com.

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: This news release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements that relate to the Company’s expected future performance and its achievement of its corporate objectives, or any other statements that relate to the intent, belief, plans or expectations of the Company or its management. All forward-looking statements made by the Company involve material risks and uncertainties and are subject to change based on factors beyond the Company’s control. Accordingly, the Company’s future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. Such factors include, but are not limited to, those described in the Company’s Form 10-K for the fiscal year ended February 3, 2007 as filed with the Securities and Exchange Commission. The Company will not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.

SOURCE: The Wet Seal, Inc.