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Fabricland Inc

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BUSINESS
September 3, 1991 | PHILIPP GOLLNER, TIMES STAFF WRITER
House of Fabrics, the conversion of its stores from mall outlets to larger fabric "superstores" in full swing, said its fiscal second-quarter earnings more than doubled from a year earlier on a 12% increase in sales. The surge in profit--to $1.55 million from $703,000 a year earlier--reflects the fabric retailer's ongoing phase-out of smaller shopping-center stores and the opening of more superstores, primarily in strip malls near regional shopping centers.
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BUSINESS
July 23, 1991
House of Fabrics Inc. in Sherman Oaks completed its purchase of Fabricland Inc. through an exchange of stock valued at $58 million. The merger was closed after stockholders of the companies approved the deal in separate meetings last week. House of Fabrics, the nation's largest independent retailer of fabrics and sewing notions, will now control 678 stores in 42 states with annual sales exceeding $500 million.
BUSINESS
July 23, 1991
House of Fabrics Inc. in Sherman Oaks completed its purchase of Fabricland Inc. through an exchange of stock valued at $58 million. The merger was closed after stockholders of the companies approved the deal in separate meetings last week. House of Fabrics, the nation's largest independent retailer of fabrics and sewing notions, will now control 678 stores in 42 states with annual sales exceeding $500 million.
BUSINESS
April 2, 1991 | JAMES F. PELTZ, TIMES STAFF WRITER
Fabricland Inc. accepted a sweetened $55-million takeover offer from its larger rival, House of Fabrics Inc., the companies announced Monday. The agreement came after Sherman Oaks-based House of Fabrics raised its bid from a cash offer of $13.50 a share, or $43 million, to a stock swap in which Fabricland shareholders are to receive $17.25 worth of House of Fabrics stock for each of their existing shares.
BUSINESS
September 3, 1991 | PHILIPP GOLLNER, TIMES STAFF WRITER
House of Fabrics, the conversion of its stores from mall outlets to larger fabric "superstores" in full swing, said its fiscal second-quarter earnings more than doubled from a year earlier on a 12% increase in sales. The surge in profit--to $1.55 million from $703,000 a year earlier--reflects the fabric retailer's ongoing phase-out of smaller shopping-center stores and the opening of more superstores, primarily in strip malls near regional shopping centers.
BUSINESS
March 26, 1991
House of Fabrics Inc. declared a 2-for-1 stock split in the form of a 100% stock dividend to be paid April 30 to stockholders of record April 9. The Sherman Oaks-based company, which operates the nation's largest retail chain providing fabrics and sewing notions, currently has 5.73 million common shares outstanding. House of Fabrics also is currently pursuing a hostile takeover of Fabricland Inc., a smaller fabrics retailer based in Portland, Ore. House of Fabrics has offered $13.
BUSINESS
June 18, 1991
House of Fabrics Inc., which was scheduled to hold its annual shareholders meeting today, postponed the meeting to July 16. At the meeting, House of Fabrics shareholders of record June 6 will be asked to vote on House of Fabrics' previously announced purchase of Fabricland Inc. in exchange for House of Fabrics stock valued at about $55 million. Both House of Fabrics, based in Sherman Oaks, and Fabricland, a Portland, Ore.-based concern, operate chains of retail fabric stores.
BUSINESS
April 2, 1991 | JAMES F. PELTZ, TIMES STAFF WRITER
Fabricland Inc. accepted a sweetened $55-million takeover offer from its larger rival, House of Fabrics Inc., the companies announced Monday. The agreement came after Sherman Oaks-based House of Fabrics raised its bid from a cash offer of $13.50 a share, or $43 million, to a stock swap in which Fabricland shareholders are to receive $17.25 worth of House of Fabrics stock for each of their existing shares.
BUSINESS
March 19, 1991
House of Fabrics Inc., which is pursuing an unsolicited takeover of Fabricland Inc., said Fabricland agreed to provide it with certain non-public information while asking that House of Fabrics submit a merger offer by Friday. House of Fabrics, based in Sherman Oaks, already has launched a tender offer for Fabricland's stock of $13.50 a share, or a total of $44 million. Fabricland, a Portland, Ore.-based concern, has rejected that bid as inadequate.
BUSINESS
January 22, 1991
A federal court ordered Fabricland Inc. to hold a shareholders' meeting to consider whether shares acquired by House of Fabrics Inc. will have full voting rights. Sherman Oaks-based House of Fabrics, the nation's largest chain of sewing and fabric stores, has launched a $44-million tender offer to acquire Fabricland, a fabric retailer based in Portland, Ore.
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