Foothill Ranch-based Wet Seal Inc. said its same-store sales declined almost 8% from a year earlier in October. That was a smaller dip than analyst had expected, and followed monthly declines of 13% and 18% in September and August, respectively.
Anaheim-based hybrid-car maker Fisker Automotive Inc. asked a bankruptcy judge to delay the auction of electric-car battery maker A123 Systems. Fisker, which estimates its unsecured claims against A123 at $100 million or more, said a quick sale process would hurt creditors. Meanwhile, more than a dozen Fisker Karma luxury hybrids stored at a shipping facility were destroyed after catching fire following flooding from Hurricane Sandy in Port Newark, N.J. Fisker Automotive said the exact cause of the fire is being investigated.
The shutdown of the San Onofre nuclear plant in January has cost Rosemead-based Southern California Edison more than $317 million, including $221 million to purchase replacement power. Safety concerns have had the plant’s two reactors shut down since January.
Three new attractions are planned for Knott’s Berry Farm in Buena Park—Coaster Rider, a 52-foot-high roller coast; Surfside Glider, a two-person glider; and Pacific Scrambler, which is making a return after being removed from the theme park’s boardwalk area. The park didn’t release cost figures or opening dates for the attractions.
Santa Ana-based Health Essentials got an unspecified amount of venture capital from Boston-based SV Life Sciences and New York-based Bessemer Venture Partners. The funds will be used to expand its clinical services for the elderly.
Professional Plastics Inc. opened a distribution center in Taiwan. The Fullerton-based company supplies materials such as plastic sheets, rods and plexiglass for the industrial market.
Inc. magazine named Huntington Beach-based ad agency Grupo Gallegos to its list of the “world’s 20 coolest offices.” The office is housed in a former movie theater and boasts both an ocean view and a basketball court.
Newport Beach-based Sabal Financial Group LP launched a commercial real estate lending program that will offer bridge loans starting at $5 million and focus on properties along the West Coast. The move follows the June launch of a program for infill residential projects.
Aliso Viejo-based Sunstone Hotel Investors Inc. plans a $12 million renovation on the Hyatt Regency Newport Beach with upgrades to 403 guestrooms and some recreation facilities. Work is expected to start soon and is set for completion by mid-2013.
Huntington Beach-based BJ’s Restaurants Inc. appointed Gregory Trojan as president, effective Dec. 3. Chairman and Chief Executive Gerald Deitchle is set to retire as chief executive Feb. 1, when Trojan will add the chief executive’s duties Deitchle is expected to remain board chairman.
Modern home goods retailer West Elm, part of San Francisco-based Williams-Sonoma Inc., opened at South Coast Plaza. The store is located in the upper level of space previously occupied by Borders.
Wal-Mart Stores Inc. opened its smaller, grocery retail concept Walmart Neighborhood Market in Garden Grove. The company opened its first Neighborhood Market in California in Huntington Beach this summer, followed by stores in Rancho Santa Margarita and Anaheim.
Westfield MainPlace mall in Santa Ana added an H&M store. Swedish retailer H & M Hennes & Maurtiz AB also has stores in the Block at Orange, Brea Mall, Irvine Spectrum Center and Shops at Mission Viejo, and has two stores at South Coast Plaza.
Irvine-based celebrity-marketing company Brand Affinity Technologies Inc. bought a fan-photography business, Printroom Inc. in Santa Clara. Terms weren’t disclosed.
ECONOMIC INDICATOR
Passenger traffic at John Wayne Airport rose 1% from a year earlier in September to 707,510. Southwest was the top carrier during the month with 284,637 passengers, followed by United Airlines (115,257) and American Airlines (90,025).
UP: Home sales in Orange County in Orange County, which saw a gain of a 22% during a four-week run in mid-October. The period saw 3,113 sales, according San Diego-based DataQuick, with a median price of $455,000, an increase of 8% from a year earlier.
