Seal123 (WTSL) 10-K 2010 FY Annual report

EXHIBIT 12.1

THE WET SEAL, INC.

COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND

PREFERRED STOCK DIVIDENDS

(AMOUNTS IN THOUSANDS, EXCEPT RATIOS AND WHERE NOTED)

	January 30, 2010		January 31, 2009		February 2, 2008		February 3, 2007			January 28, 2006
EARNINGS:
Income (loss) from continuing operations before income taxes	$	22,366	$	31,476	$	23,610	$	(12,530	)	$	(29,032	)
Fixed charges		21,473		23,063		19,827		48,646			54,738
Accretion of non-cash dividends on convertible preferred stock											(23,317	)
Total earnings	$	43,839	$	54,539	$	43,437	$	36,116		$	2,389
FIXED CHARGES:
Interest expense and amortization of deferred financing costs	$	973	$	2,863	$	1,136	$	31,955		$	15,150
Estimated interest expense included in minimum gross rent(3)		20,500		20,200		18,691		16,691			16,271
Accretion of non-cash dividends on convertible preferred stock											23,317
Total fixed charges	$	21,473	$	23,063	$	19,827	$	48,646		$	54,738
RATIO OF EARNINGS TO FIXED CHARGES		2.04		2.36		2.19		—	(1)		—	(2)

(1) Earnings were insufficient to cover fixed charges by $12.5 million.

(2) Earnings were insufficient to cover fixed charges by $52.3 million.

(3) Interest component is estimated to be one-third of minimum gross rent.