Down at heel

Article Abstract:

Sears PLC used to belong to the UK's top 30 industrial companies in the 1980s. Its business portfolio included one of the largest shipyards in UK, the biggest UK footwear manufacturing and retailing chain, top fashion retailers, the Mappin and Webb jewellery group, a motor sales business, the William Hill betting chain and extensive interests in property and engineering. In 1998, however, Sears reported pre-tax losses of 116 million sterling pounds, the biggest slippage since 1992 when the company started to disappoint its shareholders. Hence, when Philip Green and January Investments (JIL) came up with an acquisition offer worth 548 million sterling pounds, the shareholders were more than ready to give up their stakes at Sear. Since the takeover of Sears, Green and JIL has sold constituent parts of the company, starting with the least profitable businesses.

Athletic & Other Footwear, Other Footwear Manufacturing, Nonrubber Footwear, Investment advice, Investment Advisory Services, Footwear, Except Rubber, Footwear, except rubber, not elsewhere classified, Management, Mergers, acquisitions and divestments, Footwear industry, Footwear, Investment advisers, Company Profile, Sears PLC, Green, Philip, January Investments

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Thank you for the music

Article Abstract:

The international music industry is estimated to be worth more than $40 billion in sales. Global sales are expected to soar to over $62 billion by the year 2002, with the strongest growth foreseen in Asia (315%) and eastern Europe (300%). The sales growth rate in more mature markets of western Europe is expected to increase by only 4% annually. The global market leaders are Polygram with 16.1% market share, Warner Music with 15.1%, Sony with 14.7%, EMI with 13.7%, BMG with 12.8% and MCA with 5.8%. Despite the industry's lucrativeness, the main players know that their success depends on the vagaries of the market. The music business is highly volatile, depending mainly on ever-changing consumer tastes, the uncertainty over who is signing which act, and the challenge of penetrating the fast-growing markets.

Consumer Audio Recordings, Integrated Record Production/Distribution, Prerecorded records and tapes, Industry Overview, Analysis, Cover Story, Sound recording industry, Recording industry, Sound recordings

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