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BUSINESS
September 26, 1996 | Times Staff and Wire Reports
Cole National to Acquire Pearle Vision: The $220-million acquisition by the Cleveland-based company from Britain's Grand Metropolitan will make Cole the second-largest eye wear retailer in the U.S. Cole will then sell the 183 stores in Pearle's European division to an investor group for $55 million, while retaining a minority stake.
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BUSINESS
November 27, 2002 | From Bloomberg News
Cole National Corp., the owner of the Pearle Vision optical stores, will restate earnings from the last five years as it changes the way it accounts for revenue from customers' eyeglasses warranties. Cole, at the suggestion of auditor Deloitte & Touche, said it is spreading revenue from warranties over the length of the contracts. Former auditor Arthur Andersen had advised booking the revenue at the time the warranties were purchased. Shares of Mayfield Heights, Ohio-based Cole fell $1.
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BUSINESS
November 27, 2002 | From Bloomberg News
Cole National Corp., the owner of the Pearle Vision optical stores, will restate earnings from the last five years as it changes the way it accounts for revenue from customers' eyeglasses warranties. Cole, at the suggestion of auditor Deloitte & Touche, said it is spreading revenue from warranties over the length of the contracts. Former auditor Arthur Andersen had advised booking the revenue at the time the warranties were purchased. Shares of Mayfield Heights, Ohio-based Cole fell $1.
BUSINESS
September 26, 1996 | Times Staff and Wire Reports
Cole National to Acquire Pearle Vision: The $220-million acquisition by the Cleveland-based company from Britain's Grand Metropolitan will make Cole the second-largest eye wear retailer in the U.S. Cole will then sell the 183 stores in Pearle's European division to an investor group for $55 million, while retaining a minority stake.
BUSINESS
September 2, 1999
Cole National Corp., which sells eyeglasses and lenses, said it plans to buy Metropolitan Life Insurance Co.'s managed vision-care benefits business for an undisclosed price, to strengthen its employee-benefits unit. Cole National operates optical stores under the names Cole Vision, Pearle Vision and Sears Optical. * Guide to Our Staff: Need to reach Business section reporters or editors? A guide to the section's staff can be found at: http://www.latimes.com/bizstaff.
BUSINESS
February 3, 1987
Boake A. Sells, president of Dayton Hudson Corp., Minneapolis, will take on the additional title of chief operating officer, effective March 1. Sells joined Dayton Hudson as vice chairman in June, 1983, and was named president and a director in July, 1984. Before joining Dayton Hudson, he had been president of Cole National Corp., a specialty retailer based in Cleveland.
BUSINESS
February 15, 2002 | From Bloomberg News
Cole National Corp.'s Pearle Vision faces a lawsuit by California's attorney general that claims the eyeglass retailer engages in the unlicensed practice of optometry and deceptive marketing. Atty. Gen. Bill Lockyer's office claims Pearle advertises that it provides optometric services such as eye exams with tag lines such as "The Doctor Is In." Pearle Vision is prohibited by state law from providing optometric services.
BUSINESS
December 7, 1990 | From Times Staff and Wire Reports
Child World Inc.'s chairman, Dennis H. Barron, has resigned "to pursue other interests," the majority stockholder of the troubled toy chain disclosed. A spokesman for CNC Holding Corp., which owns 82% of the toy chain, declined to say when or why Barron left the post, but a source at Child World said the former chairman had been forced out at a CNC board meeting Monday. Barron also gave up the position of president and chief operating officer of Cole National Corp.
BUSINESS
July 26, 2002 | Ronald D. White
Responding to a lawsuit filed by California in February, Pearle Vision Inc. and Pearle VisionCare Inc. opened a cross-complaint in San Diego Superior Court on Thursday against state Atty. Gen. Bill Lockyer and the director of the Department of Consumer Affairs. The state lawsuit alleged that Pearle Vision, a subsidiary of Cleveland-based Cole National Corp., has engaged in the deceptive marketing of eye exams and in the unlicensed practice of optometry.
BUSINESS
May 30, 1987 | JESUS SANCHEZ, Times Staff Writer
Mass merchandiser Sears has launched its long-awaited foray into specialty retailing with the $52.4-million purchase of a chain of eye-care "super stores." The acquisition, announced on Friday by Eye Care Centers of America, would give Sears a foothold in the promising eye-care business, which analysts say stands to benefit from the millions of aging Baby Boomers who will have a greater need for eye glasses. The eye-care company, based in San Antonio, Tex.
BUSINESS
December 19, 1989 | MARIANN CAPRINO, ASSOCIATED PRESS
It doesn't need batteries or microchips--just the push of a few fingers and the fuel of inspiration. But it's one of the hottest-selling items of the season. Behold, the pen. Not just any pen, however. These pens are heavy with tradition, lacquer and snob appeal--the new must-have accessory for the Rolex watch set. Sales of fine writing instruments are skyrocketing this Christmas, with some retailers reporting increases of up to 70%.
BUSINESS
November 6, 1997 | From Times Wire Services
Stock and bond markets barely budged Wednesday, but some major indexes managed to pull themselves just over the levels they were at before last week's worldwide plunge. Analysts said it wasn't very surprising to see the market lose some momentum after such a volatile period. "It's not likely that the market is going to keep running away on the upside. More likely, it will bounce around for a while," said A. Marshall Acuff Jr., equity strategist at Smith Barney.
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