Financial

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Financial

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Business Slump Cuts Price Tag on Kayser-Roth

NEW YORK -- The purchase price of Kayser-Roth Corp. has been lowered by $63 million to $170 million because of a downturn in Kayser-Roth's business.

Legwear Acquisition Corp., representing Grupo Synkro SA de CV and a group of Mexican investors,...

Elf Aquitane Expected to Jettison its Stake in Bidermann International

PARIS -- French petroleum giant Elf Aquitaine is expected to announce Thursday that it will pull the plug on its stake in Bidermann International.

Elf holds about 13 percent of Bidermann SA, the holding company that controls Bidermann...

Cone, Majestic Deal Seen As Lift to Both

NEW YORK -- The acquisition of Cone Mills' apparel corduroy business by Majestic Mills last month should be a good deal for both firms, according to executives from the two companies as well as industry analysts.

The move gets Cone out of...

Arnault Denies Rumors of For-Sale Sign on Celine

PARIS -- The principals of Celine have denied reports in the Paris press that the firm is up for sale. "This rumor has no foundation. It's completely untrue," insisted Bernard Arnault, whose holding company, Financiere Agache, controls Celine. Arnault...

Quake Exacts Toll On Stores in Los Angeles

LOS ANGELES -- The devastating 6.6 magnitude earthquake here that claimed at least 24 lives Monday wreaked havoc on retailers, particularly at Northridge Fashion Center, which is close to the temblor's epicenter in the San Fernando...

Hermes Reports December Sales Rise Strongly

PARIS -- Hermes International scored a provisional 20 percent increase in consolidated sales in December, compared with December 1992, and Hermes store sales for the month jumped 18 percent.

Exact figures will not be disclosed until March,...

Weekly Stock Index

NEW YORK -- The Women's Wear Daily stock index rose 2.01 percent in the week ending January 14, outpacing a robust broader market. The largest percentage gainers on the WWD index were Carter Hawley Hale Inc., jumping 16 percent, and Bradlees Inc.,...

Analyst: Federated Can't Lose

NEW YORK -- At least one Wall Street analyst who's examined Federated Department Stores' strike at R.H. Macy & Co. feels it's a good deal for the Cincinnati-based organization as both a merger and a simple investment.

Michael Exstein, of...

W&L Files For Bankruptcy

NEW YORK -- Woodward & Lothrop, one of the last over-leveraged retailers to remain outside the bankruptcy courts, finally succumbed to its debt load and entered Chapter 11 proceedings Monday.

This confirms reports in these columns on Jan....

He-Ro Postpones Holders' Meeting for Fourth Time

NEW YORK -- For the fourth time in the last three months, The He-Ro Group has rescheduled its annual meeting, this time until "the second week in March," a company spokeswoman said last week. A specific date has not been set, she said.

The...

CHH Will Boost Private Label to 25% of Women's Inventory

NEW YORK -- Carter Hawley Hale Stores Inc. will build private label to 25 percent of its women's apparel inventory this year, as the retailer seeks to "take back the reins of control from the vendor community."

That was the message from David...

Announcement Expected Today on Calvin Klein-Warnaco Deal

NEW YORK -- An announcement is expected today that a deal has been struck between Calvin Klein Inc. and The Warnaco Group involving the sale or license of Klein's highly profitable $85 million men's underwear business.

Calvin Klein Inc. and...

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