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Article: Once stylish, Paul Harris shares now out of favor
- Article from:
- Indianapolis Business Journal
- Article date:
- October 12, 1998
- Author:
CopyrightCopyright IBJ Corporation Oct 12, 1998. Provided by ProQuest LLC. (Hide copyright information)
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Two years ago, Paul Harris Stores Inc. was in the midst of a record-breaking year. The apparel retailer's stock soared 1,083 percent, earning it second place on Bloomberg Business News' ranking of top stocks for 1996.
Though the Indianapolis-based women's clothing retailer hasn't changed much since then, Paul Harris is no longer a Wall Street darling. And its recent stock performance has rendered its previous gains a distant memory.
In the last 12 months, Paul Harris' market capitalization has dropped 78 percent, from $311.9 million in October 1997 to $68.8 million last week. The company's stock, which was trading in the $27 range last year, now trades at about $6 a share.
Analysts ...