Aussie Apparel Projects $280mm in U.S. Revenues through 2008
Aussie Apparel Group Ltd. announced that it has received its first domestic orders for its Hot Tuna brand for shipment to US retailers in September and October. The Company is utilizing the Hot Tuna label as its platform for entry into the US market…
Saks, Inc. Acquires Midwest Teen Retailer
Retailer Saks Incorporated announced it has acquired Club Libby Lu, LLC. Club Libby Lu owns and operates 11 mall-based Club Libby Lu stores, predominantly in the Midwest, catering to pre-teen girls…
Filene’s Basement Appoints Politzer EVP Merchandising
Value City Department Stores announced that Jerald Politzer has joined its Filene's Basement segment as Executive Vice President of Merchandising. Mr. Politzer was most recently Chairman and Chief Executive Officer with Salant Corporation…
Kmart Exits Chapter 11, Names Lampert Chairman
Kmart Holding Corporation announced that the Board of Directors of the Company has appointed Edward S. Lampert, Chairman and Chief Executive Officer of ESL Investments, as Chairman of the Board. Kmart emerged from bankruptcy court protection Tuesday.
KSA Offers Survival Strategies for Difficult Economic Times
Retailers must focus their attention on eight retail priorities to survive in difficult economic times says Phil Kowalczyk, Managing Director, North America for Kurt Salmon Associates (KSA). “Successful retailers know they must consistently focus on devel
Brass Eagle Reports Q1 Loss on 33% Sales Decline
Brass Eagle Inc. reported net sales for the first quarter decreased 33% to $13.4 million versus $20.1 million for the same period last year. For the three months ended March 31, 2003 the Company reported a loss of $226,000 or $0.03 per diluted share, comp
Spiegel Gets DIP Financing Final Approval
The Spiegel Group announced that it has received final Bankruptcy Court approval for the full amount of its $400 million senior secured debtor-in- possession (DIP) financing facility…
Spiegel Starts to Make Re-Org Cuts
As part of its ongoing reorganization process, The Spiegel Group announced that it plans to close one of its customer sales and service centers, that its Eddie Bauer division has restructured its headquarters workforce and that it has realigned its corpor
Cannondale Completes Asset Sale to Pegasus
An upbeat, optimistic Cannondale concluded its rapid transition through the Chapter 11 bankruptcy process Monday with the closing on the sales of the assets of its bicycle and motorsports divisions to affiliates of Pegasus Partners II, L.P. Cannondale ha
Coastcast Posts $2.7 mm Q1 Loss as Sales Plunge 51%
Coastcast Corporation reported sales for the first quarter ended March 31, 2003 were $10,731,000 as compared to $21,956,000 for the same period in 2002, net (loss) income was ($2,736,000) vs. $723,000, and diluted (loss) earnings per share were ($0.36) vs
Escalade Sports Renews Labor Union Contract
Escalade Sports, a wholly owned subsidiary of Escalade, Inc., announced its union employees have ratified a new three-year labor agreement at its Evansville manufacturing facility. The successful negotiation of this agreement ensures there will be no disr
Yue Yuen Buys Stake In Sportswear Maker
Sports shoe giant Yue Yuen Industrial (Holdings) Ltd on Friday announced it has bought a 73% stake in sportswear and casualwear maker Pro Kingtex Industrial Co Ltd. The deal is reportedly worth $3.8 million…
Retailers Welcome Debit Card Lawsuit Settlement
The National Retail Federation has welcomed the settlements reached with Visa and MasterCard this week in a federal antitrust lawsuit brought by U.S. merchants against the two companies regarding their debit card practices. The settlements came in a laws
Best Takes Helm at JD Sports as U.K. Retailer’s Results Falter
U.K. retailer JD Sports revealed a boardroom reshuffle as it revealed “disappointing” set of financial figures. Co-founder John Wardle will move from executive chairman to executive deputy chairman, to be replaced by former Reebok executive Roger Best.
Russell Q1 EPS Up 38% on 6% Sales Gain
Russell Corporation reported fiscal 2003 first quarter net sales of $228.0 million, a 6% increase over the comparable period last year. The company also reported earnings per diluted share of $.11, a 38% increase over the comparable period last year, whi
