North Face shares fall 21% after firm withdraws $212.5 million tender offer

Article Abstract:

North Face Inc. stock plummets 21% or $3.4375 to $13.0625 after the firm withdraws its offer to buy back its stock at $17 a share, due to delays in finalization of its 1998 financial statements and the possibility that the firm may need to restate its 1997 results. This apparent setback will not affect the plan by CEO James Fifield and an investment company to acquire North Face. According to the plan, North Face will make a tender offer to buy back all but the 5.6% stake owned by Mr. Fifield, and then sell the repurchased shares to Leonard Green & Partners LP. The company would not say when it plans to make the offer again.

Financial management, APPAREL AND OTHER TEXTILE PRODUCTS, Women's and Misses' Outerwear, Women's and Girls' Cut and Sew Other Outerwear Manufacturing, Women's Sportswear, Securities, Clothing industry, Sport clothes industry, North Face Inc.

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Wal-Mart's Garth-quake may spur sales

Article Abstract:

Wal-Mart has a deal with Garth Brooks. Garth will perform for an hour out of a studio in Los Angeles and Wal-Mart will broadcast the concert live in all 2,390 stores. The singer's new CD to be released the same day is expected to sell well at Wal-Mart stores as a result. The company hopes to improve store sales overall just by attracting and keeping more customers in the stores for an extended period of time with the closed-circuit concert. The new CD called 'Double Live' has a suggested retail price of $29.98 that will be greatly discounted by the retail giant.

Marketing procedures, Research Findings, Television, All Other Specialty Food Stores, Discount Chains, Variety stores, Promotion, Out-of-Home Advertising, Point-of-Purchase Displays, Wal-Mart Stores Inc., Marketing, WMT, Abstract, Music industry, Discount stores, Brooks, Garth

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