Federated Department
Stores, Inc., Cincinnati, OH. announced that it has reached an agreement
to unload Fingerhut.
Federated recently shut down the failing direct sales subsidiary in order
to concentrate on its struggling department stores. FAC Acquisitions, LLC
has agreed to purchase certain Fingerhut assets. FAC Acquisitions is a
partnership of Fingerhut's former CEO, Theodore Deikel and Thomas Petters,
the founder and CEO of Eden Prairie, MN-based redtagbiz.com, an online
business-to-retailer facilitation firm. Assets included in the sale
include the distribution center and facilities in St. Cloud, MN;
Fingerhut's Minnetonka, MN, corporate headquarters; the data center in
Plymouth, MN; the distribution center facility in Piney Flats, TN; and the
Fingerhut name, website and existing inventory, as well as other
miscellaneous property and equipment.
Plus-Size Retailer Joins With Lingerie Maker
A local Web site that features clothes for plus-size women is joining forces with lingerie maker.
Shoppers who visit PlusSize.com will be able to get lingerie from Frederick's Of
Hollywood
, WLWT Eyewitness News 5 reported.
36/48
He's Got his RIGHTS?
A man on death row in Tennessee for a 1980 crime spree that included the
murder of an elderly Memphis couple sued the State Department of
Corrections yesterday over new prison regulations banning magazines like
Playboy and Penthouse.
Anna Kournikova appears in front of her advertisement for
bras before the start of 2002 Womens Tennis Championships at Devonshire
Park, Eastbourne Friday June 14, 2002.
3/4
Bankrupt retail giant Kmart today announced a first quarter loss of $1.45
billion, compared to $233 million a year ago. Net sales for the quarter
dropped eight percent, to $7.64 billion. Losses per share for the
quarter were $2.88, compared to $0.48 a year ago.
The results represent the first full quarter since the Michigan-based
company filed for Chapter 11 on January 22, and make this the second
straight quarter of losses in the billions. The company reported losses
of $2.42 billion - the largest in its 40-year history - for all of 2001.
Fab
Industries Inc, textile maker, will close two factories
and cut about 150 jobs, 15 percent of its work force, by end of year
12/24
Sears Buys Assets Of Bust Bra Maker Vogue
Retail giant Sears Canada Inc on Tuesday announced it had bought the brands and trademarks of bankrupt bra maker Vogue Brassiere Inc for an undisclosed sum in a deal that will see it continue to sell the brands in its department stores.
In a statement, Sears Canada said it had acquired trademarks including Vogue Bra, Vogue Dessous, and Vie, as well as their design and production specifications and lots of inventory.
It added new Vogue lingerie designs will be available from its stores in early 2003. Vogue went bust earlier this year.
Leading lingerie manufacturer, Wacoal Corp
, is to set up two new sales units in China by the end of this year as
it looks to cash in on the lucrative Chinese market.
It said the new units in Dalian, Liaoning Province, and Chengdu,
Sichuan Province, will be formed to meet an expected surge in demand for
women's underwear.
Swedish fashion giant Hennes & Mauritz AB on Wednesday posted
a 37 per cent leap in second quarter pre-tax profits to $220 million
thanks to strong performances from its US and German markets.
The operator of 801 stores in 14 countries said in a statement that
total turnover was up 13 per cent while German sales climbed 10 per
cent. For the first half, profits jumped 56 per cent to $349m.
It also revealed it plans to open 55 new retail outlets by the end of
the year, mainly in the US, UK, Spain, France and Germany.
2/3
CBS Eyes Victoria's Secret Special
CBS announced that it has inked a deal with Victoria's Secret to broadcast its annual fall fashion show, featuring the lingerie-clad likes of Tyra Banks, Gisele Bundchen, Heidi Klum and Laetitia Costa, in another one-hour prime-time special certain to send tongues wagging again.
Last year's broadcast of the Victoria's Secret show aired in November on ABC and was a ratings hit--gartering, er, garnering DD-sized ratings and an estimated 12 million oglers for the Alphabet network. The show also generated plenty of controversy.
Despite labeling the show with a TV-14 rating warning parents the contents were inappropriate for children under the age of 14 and airing it in the Thursday, 9 p.m. time slot, ABC took heat from feminist groups and family-values pushers accusing the network of broadcasting softcore porn.
But after reviewing indecency complaints from hundreds of irate viewers, the Federal Communications Commission ( news - web sites) ruled the show did not violate the agency's standards for lewd behavior that would require them to fine the network.
Still, with corporate parent Disney worried about its family-friendly image, ABC shied away from Victoria's Secret this year, leaving the door open for other suitors.
Enter CBS, a network that used to have a reputation for skewing towards the AARP crowd, until Survivor helped to put CBS on the dial for younger viewers.
Shedding their old inhibitions, executives at the Eye were more than happy to climb aboard the catwalk, especially knowing a bunch of barely dressed models will pull in the 18- to 34-year-old set, the most coveted demographic for advertisers.
And to maximize the, um, exposure, CBS is slating the special for November sweeps, one of the most-watched months of the season. And expect CBS parent Viacom to plug the show on ancillary outlets like MTV and VH1.
Stuck
on a desert island
There was a
man who had been stranded on a desert island for the last twenty years,
when all of a sudden a beautiful girl steps from the sea, wearing a wet
suit.
She says: "Would you like a cigarette?"
He replies "Sure." She peels open her wet suit, takes one from
inside, lights it, and smokes he smokes it.
She goes on "Would you like a martini?"
"Sure." She peels open her wet suit a bit further. He gets the
very special 007 shaken, not stirred, martini from her wet suit.
Then she says, with a gleam in her eye, "Would you like to play
around?"
He: "I don't believe that you've got a set of golf clubs in there
!"
( End
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