L.A. Gear, Inc
Article Abstract:
L.A. Gear inc has agreed with Pentland Group PLC to acquire one of Pentland's affiliates to provide footwear sourcing in the Far East while selling 1,244,445 shares (5.8%) of the company at $11.25 each to another affiliate. The deal, handled by Trefoil Capital Investors Inc, will strengthen Trefoil's 34% control over L.A. Gear Inc. Pentland is expected to help L.A. Gear's quality improvement and manufacturing process initiatives. Even as the footwear manufacturer's gross margin rose to 29.3% from 26.9% for the Feb 1st qtr, this growth is not expected to hold throughout the year due to much needed reduction in its excess inventory.
Publication Name: The Insiders' Chronicle
Subject: Business
ISSN: 0162-5152
Year: 1992
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Sotheby's Holdings, Inc
Article Abstract:
Sotheby's Holdings Inc sustained a 40% revenue drop in 1991 due to low demand and earnings for 1992 are not encouraging. The art auctioneer also posted a $7.7 million loss through Sep 1992 while 1992's net is expected to be lesser than 1991's 25-cents a share. These negative developments prompted Sotheby's to impose a 50% increase in premium charged to buyers in an effort to gain over competitor Christie's International PLC. A New York dealer, hoewever, disagrees with Sotheby's scheme. The firm has a 60-cent dividend on its 53 million common shares.
Publication Name: The Insiders' Chronicle
Subject: Business
ISSN: 0162-5152
Year: 1992
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