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Ullman's Tenure At Macy's High Marks for a Tough Job

NEW YORK -- By many accounts, Myron E. Ullman has done a good job in a difficult situation, striving to salvage the beleaguered R.H. Macy & Co.

The chairman and chief executive of the $6.6 billion chain has closed stores, cut losses, met...

VF Winds Up its Purchase of H.H. Cutler for $155 Million

WYOMISSING, Pa. -- VF Corp. said Tuesday it has completed acquisition of H.H. Cutler Co., a privately held manufacturer of children's wear, for $155 million.

Plans for the acquisition were first announced in October with the purchase price put...

Creditors Much Warmer to Bid by Federated Than R.H. Macy

NEW YORK -- Federated Department Stores could acquire R.H. Macy & Co. with stock of the combined entity and very little cash because of Federated's track record, according to market observers.

The significance of that is Macy's...

Pentland Gets %90 of Ellesse for $29.5M

LONDON -- Pentland Group PLC has acquired 90 percent of Ellesse SpA, the Italian sports apparel and footwear group, for $29.5 million (50.6 billion lire at current exchange rates) in cash, the company said Tuesday.

Pentland will change the...

MGR Still Trying To Avoid Chap. 11

NEW YORK -- Merry-Go-Round Enterprises is making a last- ditch effort to avoid a bankruptcy proceeding, according to strong market reports Tuesday.

MGR reportedly is asking its largest vendors and factors for a nine-month moratorium on its...

More Pressure on Profits in '94

NEW YORK -- Most discounters should have a better year in 1994 than they had in 1993, but an increasingly crowded market will continue to pressure profit margins, Wall Street analysts say.

Greater competition due to store expansions -- as well...

Federated Bid Could be Windfall for Farah

NEW YORK -- Roger N. Farah could rake in $10 million without ever working a day for R.H. Macy & Co.

Under the terms of his bankruptcy court-approved contract with Macy's, Farah has the option to terminate his agreement if there is a change...

Hear Efforts To Revive U.S.-China Textile Talks Stumped By Jockeying

WASHINGTON -- Efforts to bring together U.S. and Chinese officials to resume talks on the countries' lapsed bilateral textile agreement apparently were stymied Tuesday by a bit of diplomatic parrying.

Sources said China refused to consider a...

Analysts Call It A No-Lose Deal

NEW YORK -- For Federated Department Stores, the purchase of 50 percent of Prudential's claim against R.H. Macy & Co. has little downside risk, according to analysts.

The Prudential loan pays interest of 12 percent a year and is secured by...

ITMF: World Output Off in 3rd Quarter

GENEVA -- Marked by major contractions in key Asian economies, worldwide fabric production fell by 7 percent in 1993's third quarter, according to a report issued by the International Textile Manufacturers Federation.

The Zurich-based ITMF,...

Eddie Haggar Buys Palmetto's From Hartwell

DALLAS -- Eddie Haggar Ltd. has acquired the Palmetto's/Essentials division from Hartwell Co., Hartwell, Ga.

EHL, as the Haggar firm is known, primarily manufactures women's pants, while Palmetto's/Essentials makes pants for women, juniors and...

Macy's Reply To Federated: 'Not For Sale'

NEW YORK -- R.H. Macy & Co. is giving Federated Department Stores the cold shoulder.

Federated took the first step toward taking over Macy's when it bought a significant stake of Macy's secured debt on Friday. But Macy chairman and chief...

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