Is Lands' End's turmoil a ghost of Christmas '98?

Article Abstract:

Lands' End Inc. finds that competition just keeps getting tougher and tougher, especially when store-based retailers go into the catalog business. Lands' End's CEO since 1994, Michael J. Smith, and its vice chairman of sales, Wm. Ferry, were both fired after the company's sales kept on plunging. Leftover goods from Christmas 1997 still haven't sold and inventory is much too deep. David Dyer returns to the company to take over for Smith. Dyer left in 1994 for the Home Shopping Network where he stayed for a year before becoming a consultant.

Executive changes & profiles, Mail Order Houses, Electronic Shopping and Mail-Order Houses, Catalog and mail-order houses, Officials and employees, Mail-order industry, Mail order business, Clothing industry, Lands' End Inc., LE

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Kellogg earnings, excluding items, decline by 41%

Article Abstract:

Changing breakfast eating habits and stiff competition contributed to Kellogg's earnings decline of 41%, just as was expected. 1997 sales were $6.83 billion, dropping in 1998 to $6.76 billion, down 1.0%. The company has reorganized management and boosted its marketing expenditures, but positive change probably won't be evident quickly.

Comment:

Company tries to turn around earnings decline

Sales, profits & dividends, Cereal Preparations, Breakfast Cereal Manufacturing, Cereal breakfast foods, Finance, Breakfast cereals, Kellogg Co., Cereal products, Grain products, K

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