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Article: Growing competition hurt Catherine's, says memo.
- Article from:
- WWD
- Article date:
- February 23, 1987
- Author:
CopyrightCOPYRIGHT 1987 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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Growing competition hurt Catherine's, says memo
NEW YORK (FNS) -- An increasingly competitive large-size market contributed to declining profits for the Catherine's unit of Allied Stores Corp., according to a confidential memorandum.
The memorandum was prepared in connection with Campeau Corp.'s sale of 16 Allied units to pay for its buyout. Reports on Bonwit Teller and Garfinckel's appeared on page one, Feb. 19, and a report on Joske's appeared on page one, Feb. 20.
Catherine's operates three divisions with a total of 210 stores. Of these, 149 carry moderate-price goods and operate under the Catherine's name. Stores are primarily in the ...