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Article: Movie Star ends men's shirts.(Brief Article)
- Article from:
- WWD
- Article date:
- September 11, 1995
CopyrightCOPYRIGHT 1995 Conde Nast Publications, Inc. 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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NEW YORK -- Movie Star Inc. said last week it will exit the men's work and leisure shirt business because of inadequate return on capital. The move will allow the firm to concentrate on its intimate apparel operations.
The men's division, Schwabe, has sales of about $20 million, about 50 percent of that to one customer, Movie Star said. The firm business is "highly seasonal and requires high inventory levels and significant amounts of capital to support it"
The firm said it will record an unspecified special charge in the fourth quarter ended June 30, reflecting the write-down of assets tied to the shirt business. In the year-ago fourth quarter, the company ...
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