Another $1 billion quarter for Wal-Mart

Article Abstract:

Wal-Mart, based in Bentonville, AR, posted record sales and earnings of $1 billion or 45 cents a share in the third quarter ended Oct. 31, 1998, against $792 million or 35 cents a share in the same period in 1997. The company's financial triumph was attributed to the double-digit sales growth in all its four units, with the international and food distribution bringing in the largest part of the result. Wal-Mart retains its position as the largest retailer in the world as it reported revenues of $33.5 billion in the third quarter, up by 16% over the figure a year ago.

Comment:

Posts record sales & earnings of $1 bil or 45 cents a share in 3rd quarter ended 10/31/98

Sales, profits & dividends, All Other Specialty Food Stores, Discount Stores, Article

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Warnaco keeps going with loan of $600M

Article Abstract:

New York-based Warnaco Group has filed bankruptcy protection on Jun 11, 2001. The struggling apparel licensee of major fashion designers has about $3 billion in debt but will continue to operate as a result of $600 million in financing. A group of creditor banks led by Citibank, JP Morgan Chase and the Bank of Nova Scotia is providing the loan. Under the terms of the debtor-in-possession financing agreement, $375 million is available immediately. The other $225 million will be available on Jul 9, 2001.

Financial management, Apparel Manufacturing, Apparel & Related Products, Warnaco Group

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Ruling sets new standards on unique clothing design

Article Abstract:

The US Supreme Court overturned on Mar 22, 2000 a ruling against Wal-Mart Stores Inc on a case involving the retailer and Samara Brothers Inc. In that 1995 case, Edison, NJ-based Samara Bros accused Wal-Mart of copying and selling the clothing manufacturer's seersucker garments. Wal-Mart lost the case and paid over $1 million in damages and legal fees. In overturning the judgment, the court unanimously decided that the design of a product is protectable 'only upon a showing of secondary meaning.'

Cut and Sew Apparel Manufacturing, Patents & copyrights, Retail Store Chains, Girls' & Children's Apparel, Chain stores, Children's clothing

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