Daily News Record back issues from June 1988:
Burden gets FAS top posts. (John W. Burden; Federated-Allied Department Stores)
Jun 01, 1988; ... Burden Gets FAS Top Posts NEW YORK--John W. Burden 3d has been named chairman and chief executive officer of Federated-Allied Department Stores (FAS), and James M. Zimmerman has been named president and chief operating officer. Burden's appointment confirms a report in ...
M-MF execs see another strong year. (man-made fiber industry)
Jun 01, 1988; ... M-MF Execs See Another Strong Year NEW YORK--Capitalizing on moderating in apparel imports, fiber and fabric export growth spurred by the weak dollar, and the increasing popularity of blends, the U.S. man-made fiber industry is on its way to another strong year. Industry ...
Stop & Shop puts for sale sign on 58-unit Bradlees South.
Jun 01, 1988 ... Stop & Shop Puts for Sale Sign On 58-Unit Bradlees South BOSTON (FNS)--Stop & Shop Cos., Inc., has put its 58-unit Bradlees Southern Division on the block in an effort to raise funds to finance the leveraged buyout of the company by Kohlberg, Kravis, Roberts & Co. The LBO is ...
Schottenstein in talks to buy 7 Stern's units. (Schottenstein Stores Corp.)
Jun 01, 1988 ... Schottenstein In Talks to Buy 7 Stern's Units NEW YORK -- Schottenstein Stores Corp., a discount retailer based in Columbus, Ohio, is negotiating to purchase the seven Philadelphia-area Stern's stores from Campeau Corp., according to market reports. The stores will reportedly be ...
Takeo Ishimoto, 78, founder of Descente, dies. (obituary)
Jun 01, 1988 ... Takeo Ishimoto, 78, Founder of Descente, Dies TOKYO (FNS) -- Descente Ltd. will hold a service June 16 for Takeo Ishimoto, 78, its chairman and founder, who died of a liver ailment May 27 in an Osaka hospital. The service will be held in Minami-Mido Temple in Osaka, ...
Bill to hike minimum wage nears vote on House floor.
Jun 01, 1988; ... Bill to Hike Minimum Wage Nears Vote on House Floor WASHINGTON (FNS) -- After more than a year of debate about its impact on jobs in the retail sector, legislation to increase the minimum wage may come up for a floor vote in the House this month and may see some committee action ...
2d anniversary of a 'lifestyle' shirt. (Matt Totilo marketed relaxed dress shirt by B.D. Baggies) (column)
Jun 01, 1988; ... 2d anniversary of a `lifestyle' shirt NEW YORK -- Just two years ago this month, a soft and slightly rumpled dress shirt was placed on a showroom table. There was only the one pre-laundered buttondown oxford shirt in six colors--four solids and two stripes. Not exactly ...
Coated Sales says net assets overstated by $6 million.
Jun 01, 1988 ... Coated Sales Says Net Assets Overstated By $6 Million LAURENCE HARBOR, N.J. (FNS) -- Coated Sales, Inc., said Tuesday that an internal investigation has revealed that a $6 million deposit on new machinery reportedly made last October and a receipt for the same amount in May never ...
Chapter 11 petitions filed by Joe Norban, affiliate. (Associated Retail Stores, Inc.)
Jun 01, 1988 ... Chapter 11 Petitions Filed By Joe Norban, Affiliate NEW YORK (FNS) -- Following a decision last week to liquidate their assets, Joe Norban, Inc., and an affiliate, Associated Retail Stores, Inc., filed Chapter 11 petitions here Tuesday. Sixty-two petitions were filed covering the ...
Pre-holiday continues poor trading for fashion shares.
Jun 01, 1988; ... Pre-Holiday Continues Poor Trading for Fashion Shares NEW YORK (FNS) -- Fashion stocks continued their lackluster performance in pre-holiday trading this week and slipped slightly below the market. The Fairchild News Service Index of retail, apparel, textile and cosmetics stocks ...
Kellwood earnings gain 14.4% in 4th quarter.
Jun 01, 1988 ... Kellwood Earnings Gain 14.4% in 4th Quarter ST. LOUIS (FNS) -- Kellwood Co. reported earnings rose 14.4 percent in the fourth quarter and 19.6 percent in the year ended April 30. Fourth quarter earnings rose to $8,259,000, or 72 cents a share, from $7,221,000, or 61 ...
Rapid-American has $50M loss in 4th quarter.
Jun 01, 1988 ... Rapid-American Has $50M Loss In 4th Quarter NEW YORK (FNS) -- Rapid-American Corp., holding company for Mc Crory Stores, reported a $50 million loss for the fourth quarter and a $121,707,000 loss for the year ended Jan. 31, 1988. Rapid-American said losses were ...
Spiess, revamped and elegant, is a well-kept Chicago secret. (Joseph Speiss Co. store; Midwest Report)
Jun 01, 1988; ... Spiess, revamped and elegant, is a well-kept Chicago secret CHICAGO -- First of all, the new Joseph Spiess Co. store at Randhurst Mall just outside of Chicago is the most beautiful new store to open here in years. It's a one-story rectangle, about 60,000 square feet, and divided ...
Three planned men's stores are casualties of Chicago's retail climate.
Jun 01, 1988; ... THREE PLANNED MEN'S STORES ARE CASUALTIES OF CHICAGO'S RETAIL CLIMATE CHICAGO -- How volatile is the retail business? Last fall, four major Chicago specialty stores -- Gallagher Chicago, Ringolevio, Bigsby & Kruthers and Mallards -- announced that they were planning to open new ...
European M-MF makers await verdict of EEC dumping probe. (man-made fiber; European Economic Community)
Jun 01, 1988; ... European M-MF Makers Await Verdict of EEC Dumping Probe PARIS (FNS) -- European manmade fiber producers are anxiously awaiting the outcome of a year-long investigation into alleged dumping of polyester staple fiber and filament yarns that they claim has severely damaged the ...
Australian Wool Council favors new floor price.
Jun 01, 1988 ... Australian Wool Council Favors New Floor Price SYDNEY, Australia (FNS) -- The Wool Council of Australia, meeting in Albury, NSW, supported a wool floor price between 850 and 900 Australian cents a kilogram for the 1988-89 selling season, which begins in late July. This ...
Monsanto to hike light denier nylon yarn prices 5%.
Jun 01, 1988 ... Monsanto to Hike Light Denier Nylon Yarn Prices 5% NEW YORK -- Monsanto Chemical Co.'s Fibers division began notifying customers Friday of a 5 percent price increase on light denier ...
Blends are booming. (Special Report: Textile Fibers)
Jun 01, 1988; ... BLENDS ARE BOOMING Blends are exploding. While fiber blends, especially the polyester/cotton bellwether, have been around for some time, fiber producers and mills are reporting a dramatic increase in demand from men's wear manufacturers and retailers for more variety in these ...
Nick Hahn sees cotton gaining market share in men's wear. (Special Report: Textile Fibers)
Jun 01, 1988; ... Nick Hahn Sees Cotton Gaining Market Share in Men's Wear NEW YORK -- Projecting cotton's strength in the apparel market for this year and next, Nick Hahn, president of Cotton Incorporated, is bullish despite his bearish outlook for the U.S. economy, most notably retail sales. ...
Buyers, expect no major price breaks at August wool auction. (Special Report: Textile Fibers)
Jun 01, 1988; ... Buyers Expect No Major Price Breaks at August Wool Auction NEW YORK--As substantially higher wool prices prevailed in international markets, and the Australian auctions were about to close for the season, international buyers considered what might happen when the auctions resume ...
British M-MF industry continues soft, acrylics hit hardest. (man-made fiber) (Special Report: Textile Fibers)
Jun 01, 1988; ... British M-MF Industry Continues Soft, Acrylics Hit Hardest LONDON (FNS) -- British manmade fibers producers said business in the first six months of 1988 is continuing to decline, noting particular difficulty in the acrylics sector. And there is little sign of any major pickup in ...
Japan man-made fiber producers wary of market reversal. (Special Report: Textile Fibers)
Jun 01, 1988; ... Japan Man-Made Fiber Producers Wary of Market Reversal TOKYO (FNS) - Contrary to earlier predictions, Japanese man-made fiber producers did so well in the first six months of this year that they restored a balance for supply and demand. But many executives are becoming wary that ...
Court OKs importation of most branded gray market items.
Jun 01, 1988; ... Court OKs Importation of Most Branded Gray Market Items WASHINGTON (FNS) -- The U.S. Supreme Court Tuesday upheld the importation of most gray market brand name goods into the United States - a major victory for discount retailers. In a 5-4 ruling, the court upheld all ...
Campeau selling 4 Canadian malls.
Jun 01, 1988 ... Campeau Selling 4 Canadian Malls VANCOUVER, B.C. (FNS) -- Laing Property Corp., a subsidiary of a British real estate company, has agreed to buy four Canadian shopping centers and an office building worth a total of $180 million Canadian ($146 million U.S.) from Campeau Corp. ...
Definite agreement on Horne's sale. (Joseph Horne Co.)
Jun 01, 1988 ... Definite Agreement on Horne's Sale PITTSBURGH (FNS) -- Edward J. DeBartolo Corp., a shopping center developer, and Dillard Department Stores, Inc., said late Tuesday that they have reached a definitive agreement for the purchase of the 17-unit Joseph Horne Co. department store ...
Blue chips lead Wall St. rally.
Jun 01, 1988 ... Blue Chips Lead Wall St. Rally NEW YORK (FNS) -- In a powerful rally led by the blue chips, the Dow Jones Industrial Average soared 74.68 points Tuesday to 2031.12, and volume on the New York Stock Exchange surged to 247,610,000 shares, compared with Friday volume of 133,590,000. ...
Cassini wins $16M award in Jovan suit. (Oleg Cassini)
Jun 01, 1988 ... Cassini Wins $16M Award In Jovan Suit NEW YORK (FNS) -- A Federal District Court jury awarded Oleg Cassini $16 million Tuesday in a legal battle with Jovan, Inc., over a licensing agreement for his signature fragrance line. Cassini had sued Jovan and its former ...
Wall St. sees continuing pressure on retail profits.
Jun 02, 1988; ... Wall St. Sees Continuing Pressure on Retail Profits NEW YORK (FNS)--With most major retailers posting disappointing first quarter earnings, Wall Street analysts are divided on how the industry will perform for the rest of the year. Thomas Tashjian of Seidler Amdec, ...
Private labels getting public praise from stores, vendors at 1st Expo. (Private Label Expo; men's wear manufacturers)
Jun 02, 1988; ... Private Labels Getting Public Praise From Stores, Vendors at 1st Expo NEW YORK--Just about every type of men's wear manufacturer--from stalwart branded houses to longtime unbranded suppliers--have hopped aboard the private label bandwagon. At the industry's first private label ...
Rosenfeld group completes its RPM purchase.
Jun 02, 1988; ... Rosenfeld Group Completes Its RPM Purchase NEW YORK--Cluett, Peabody & Co. has completed the sale of its RPM Fashions division to a group of investors headed by RPM president Frederick Rosenfeld. The corporate name of the company is being changed to RPM Clothing, Inc., although ...
Cutty to award entertainment, fabric categories. (1988 Cutty Sark Menswear Awards)
Jun 02, 1988 ... Cutty to Award Entertainment, Fabric Categories NEW YORK--The 1988 Cutty Sark Menswear Awards will include special awards for fashions in entertainment and for fabric development. At the June 8 ceremonies, "Wall Street," the motion picture, and "L.A. Law," the television series, ...
Natty knits. (men's sweaters market new fibers)
Jun 02, 1988; ... NATTY KNITS Manufacturers of better men's sweaters are playing with proportions and taking advantage of intricate pattern processes to update their collections for fall 1988. Undaunted by the rising cost of cashmere and other luxury fibers and the weak dollar, West Coast ...
JPS Textile Group begins its life amid the top ten.
Jun 02, 1988; ... JPS Textile Group Begins Its Life Amid the Top Ten GREENVILLE, S.C.--A new textile company, which ranks among the nation's top 10, has resulted as an offshoot of last month's $1.22 billion buyout of J.P. Stevens & Co. by WestPoint Pepperell. JPS Textile Group, Inc., with ...
Graniteville entering garment dyeing business.
Jun 02, 1988; ... Graniteville Entering Garment Dyeing Business NEW YORK--The Graniteville Co., an Aiken, S.C.-based textile company, is entering the garment-dyeing and jeans-processing business with a $2 million renovation of one of its yarn-dyeing plants. To enter the new venture, the company is ...
Marcade Group in pact to sell 16.5% equity interest for $20M.
Jun 02, 1988 ... Marcade Group in Pact to Sell 16.5% Equity Interest for $20M NEW YORK (FNS)--The Marcade Group, Inc., said Wednesday that it entered into a definitive agreement for a private group to make an equity investment of $20 million in Marcade and take over a 16.5 percent interest in the company. ...
Engineering. (new fabrics in men's shirts for spring )
Jun 02, 1988; ... Engineering The fancy shirt with a fashion message becomes more important for next spring, and with it come new fabrics to create engineered effects for a custom-made concept. Shirtmakers can have a lot of fun with big stripes spaced so far apart they can be cut into ...
Cotton, M-MF yarn spinners in UK hit by job actions. (man made fiber yarn manufacturers)
Jun 02, 1988; ... Cotton, M-MF Yarn Spinners In UK Hit by Job Actions LONDON (FNS)--Britain's cotton and man-made fiber yarn manufacturers, including industry giant Courtaulds Spinning, have been hit by workers' job actions, but so far there has been little effect on exports to the U.S. More than ...
Tryon files Chapter 11, expects to reopen soon. (Tryon Coats & Leather Inc.)
Jun 02, 1988 ... Tryon Files Chapter 11, Expects to Reopen Soon ALBANY, N.Y. (FNS)--Tryon Coats & Leather, Inc., a leather, wool and fleece apparel manufacturer, has filed a Chapter 11 petition, seeking time to reorganize. The Johnstown, N.Y.-based company, which has been closed since mid-April, ...
Ratner Clothes acquired by Amer. Fashion Group.
Jun 02, 1988; ... Ratner Clothes Acquired By Amer. Fashion Group SAN DIEGO--A new company headed by Steve Kurtzman, president of LeBaron Louis Roth, called American Fashion Group (AFG), has purchased the assets of Ratner Clothes from Stan Foster for an undisclosed amount of cash. In addition to ...
Dylex acquires balance of NBO for $28 million. (NBO Stores Inc.)
Jun 02, 1988 ... Dylex Acquires Balance of NBO For $28 Million FAIR LAWN, N.J. (FNS)--Dylex Ltd. has acquired the remaining shares of NBO Stores, Inc., for $28 million. Dylex had previously held a 50 percent interest in the off-price men's specialty store chain. Dylex will pay for the ...
May sales up 9.8% at 12 big stores.
Jun 03, 1988; ... May Sales Up 9.8% at 12 Big Stores NEW YORK (FNS)--May sales at 12 of the nation's largest retailers rose an average of 9.8 percent for the period ended May 28, boosted by warmer weather and an increased demand for summer merchandise. Average sales zoomed 21.6 percent ...
Buyers on search and discover missions at Expo. (Private Label Expo, New York)
Jun 03, 1988; ... Buyers On Search And Discover Missions at Expo NEW YORK--Further proof that department stores and catalog companies desperately need alternative sourcing for the rising tide of fashions is being found at this week's Private Label Expo. A record number of these merchants ...
Men's wear biz at Ames is store's star performer. (Ames Department Stores Inc.)
Jun 03, 1988; ... Men's Wear Biz at Ames Is Store's Star Performer NEW YORK--Men's wear has been the star soft-goods performer for Ames Department Stores, Inc., according to Leslie Dietzman, executive vice-president of merchandising. Dietzman, who was attending a luncheon sponsored by ...
Cherokee board rejects $150M buyout offer. (footwear industry)
Jun 03, 1988; ... Cherokee Board Rejects $150M Buyout Offer NEW YORK (FNS)--A special committee of the board of the Cherokee Group has unanimously rejected a $12.50-a-share management buyout bid, citing the offer as "illusory" and the timing of the proposal "inappropriate." The total ...
Federated Merchandising names Doroff chairman. (Frank Doroff)
Jun 03, 1988 ... Federated Merchandising Names Doroff Chairman NEW YORK--Frank Doroff, former president of Bullock's department store in Los Angeles, has been named chairman of Federated Merchandising Services (FMS), the New York-based buying office for Federated Department Stores. He will report ...
Prices keep moving lower as modest buying continues. (gray goods) (column)
Jun 03, 1988; ... Prices Keep Moving Lower As Modest Buying Continues NEW YORK--Modest buying of gray goods at further price reductions took place this week as the fabric market experienced another period of only minor business. In was entirely a spot market. Mills said they received ...
SEC files suit, seeks records of Roberto Polo.
Jun 03, 1988; ... SEC Files Suit, Seeks Records Of Roberto Polo NEW YORK (FNS) - The Securities and Exchange Commission filed a suit Thursday against Roberto Polo and his company, Private Asset Management Group, Inc., (PAMG) to compel them to produce business records by June 10. The SEC ...
Penny's seeks SEC OK for credit card backed securities.
Jun 03, 1988 ... Penney's Seeks SEC OK for Credit Card Backed Securities DALLAS (FNS) - J.C. Penney Co., Inc., has filed a registration statement with the Securities and Exchange Commission for a public offering of credit card asset-backed certificates through its subsidiary, JCP Receivables, ...
Growth of private label forcing retailers to acquire new skills. (apparel retail trade)
Jun 03, 1988; ... Growth of Private Label Forcing Retailers to Acquire New Skills NEW YORK - Buyers have to learn some new marketing skills - those usually reserved for manufacturers - if they want to take full advantage of private label production, retailers were told at seminars during the ...
Hickey keeps up with the Joneses. (Hickey Freeman clothing)
Jun 03, 1988; ... Hickey Keeps Up With the Joneses NEW YORK--Even the pros in the licensing business privately agree that launching a line of golfwear with a celebrity name can be iffy. But Hickey-Freeman takes the risk a step further with its new collection of Bobby Jones sport coats, slacks, ...
China increases ability to meet its demand for man-made fibers.
Jun 03, 1988; ... China Increases Ability to Meet Its Demand for Man-Made Fibers HONG KONG (FNS)--New production facilities in China continue to lessen the country's need for imported man-made fibers, traders say. But an expanding apparel business for domestic and export markets will keep China a ...
ACA Joe, United Trend sign letter of intent for $14M. (apparel manufacturer-retailer)
Jun 03, 1988; ... Aca Joe, United Trend Sign Letter of Intent for $14M SAN FRANCISCO (FNS)--Aca Joe, Inc., a men's and women's apparel manufacturer and retailer which previously filed a Chapter 11 petition to reorganize, said Thursday it had signed a letter of intent with United Trend Investment ...
WPP amends pill to kick in when 10% stake is acquired. (WestPoint Pepperell Inc., textile industry)
Jun 03, 1988 ... WPP Amends Pill to Kick In When 10% Stake Is Acquired WEST POINT, Ga. (FANS)--WestPoint Pepperell, Inc., reported Thursday that its board has amended its shareholders rights plan, commonly known as a poison pill, making the rights to purchase WestPoint stock at half the market ...
Warmer weather helps heat up cold retail biz. (in clothing)
Jun 03, 1988; ... WARMER WEATHER HELPS HEAT UP COLD RETAIL BIZ LOS ANGELES--Although sales on the West Coast have been down overall, retailers say the coming of warmer weather brought customers into stores this week looking for seasonal summer sportswear, active apparel, beachwear and accessories. ...
Demand grows for fashion in private labels. (Private Label Expo 1988)
Jun 06, 1988; ... Demand Grows For Fashion In Private Labels NEW YORK--The demand for high quality, fashionable private label apparel is becoming stronger as more upscale retailers try their hand in this market. Interestingly styled sportswear, not just the latest version of acid-wash denim or ...
Maison Blanche set to buy May Co. Florida division. (Maison Blanche Department Stores)
Jun 06, 1988 ... Maison Blanche Set to Buy May Co. Florida Division BATON ROUGE, La.--Maison Blanche Department Stores has reached an agreement in principal with May Department Stores Co. to purchase the five-unit May Florida Department Store division. The transaction is expected to be ...
Lazarus trims management board to 12. (Lazarus; cutback ordered by Campeau Corp.)
Jun 06, 1988 ... Lazarus Trims Management Board to 12 CINCINNATI--Lazarus has restructured its management board in response to Campeau Corp.'s demand that the division slash 1,200 positions from its payroll. Previously, the management board had consisted of 22 people, but that number ...
Wemco to market neckwear under 3 Brittania labels. (Levi Strauss div., Brittania Sportswear Ltd.)
Jun 06, 1988; ... Wemco to Market Neckwear Under 3 Brittania Labels SAN FRANCISCO--Brittania Sportswear Ltd., a division of Levi Strauss & Co., has signed a licensing agreement with New Orleans-based Wemco for Wemco to produce and market men's and young men's neckwear under the Brittania, Brittgear ...
US lights flame under illegally labeled kid's sleepwear. (Consumer Product Safety Commission)
Jun 06, 1988; ... US Lights Flame Under Illegally Labeled Kid's Sleepwear WASHINGTON (FNS)--The Consumer Product Safety Commission has launched a port inspection program aimed at intercepting children's apparel illegally being imported as sleepwear. The agency, which has come under fire ...
Faberge, Inc.'s earnings drop 93.7%.
Jun 06, 1988 ... Faberge, Inc.'s Earnings Drop 93.7% NEW YORK (FNS)--With women's apparel business dragging down earnings of the apparel segment of Faberge, Inc., overall profits of the fragrance, apparel and licensing complex plunged 93.7 percent in the year ended Jan. 30, 1988. ...
David C. Condo to direct national sales at Arrow. (Arrow Co.)
Jun 06, 1988 ... David C. Condo to Direct National Sales at Arrow NEW YORK--David C. Condo has been promoted to national sales manager of the Arrow Co., a division of Cluett, Peabody & Co., Inc. He will report directly to Ray L. Wathen, executive vice-president. "Dave Condo ...
DMC seeks to double sales; probes US for acquisitions. (Dollfus Mieg & Cie.)
Jun 06, 1988; ... DMC Seeks to Double Sales; Probes US for Acquisitions PARIS (FNS)--Dollfus Mieg & Cie (DMC), which last year became the largest manufacturer of apparel fabrics in Western Europe due to the purchase of SAIC-Velcorex, is now looking for acquisitions in the U.S., Canada and many ...
Burdines begins lay offs of 320. (Federated Department Stores div.)
Jun 06, 1988 ... Burdines Begins Lay Offs of 320 NEW YORK--Miami-based Burdines, another of the Federated Department Stores divisions acquired by Campeau Corp., has started cutting personnel. The firm is laying off 320 from its work force of 11,500. Officials could not be reached ...
Bugle Boy marches on! (young men's apparel manufacturer) (company profile)
Jun 06, 1988; ... Bugle Boy Marches On! NEW YORK--Bugle Boy Industries is currently experiencing the kind of success that only a handful of apparel companies ever enjoy. Consider these figures: . In the fiscal year ended April 1988 it shipped 24 million units to its more than 2,500 ...
Running Reckless. (funk apparel store in Greenwich Village)
Jun 06, 1988; ... Running Reckless NEW YORK--Located on Christopher Street in the heart of Greenwich Village, Reckless is a two-and-a-half-year-old store that lives up to its name by constantly changing its merchandise and image. "When we first opened we did `cowpunk,'" says owner ...