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Article: Costa Mesa home-decor chain will use IPO proceeds toward its expansion.
- Article from:
- Orange County Register (Santa Ana, CA)
- Article date:
- May 7, 2005
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Copyright informationCOPYRIGHT 2005 The Orange County Register. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Nancy Luna
May 7--Discount home-furnishings retailer Anna's Linen Co. announced plans Friday to take the Costa Mesa firm public with an initial offering of up to $69 million.
The 167-store chain plans to use the proceeds from the offering to add 50 more shops this year and 60 in 2006, according to a filing submitted Friday to the Securities and Exchange Commission.
The chain markets its discounted home-decor accessories to minorities, including its five stores in Santa Ana, Anaheim, Westminster and Garden Grove.
"They have carved out a niche not just among ethnic, but among (shoppers with) moderate income and below," said Greg Stoffel, a mall analyst ...
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