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BUSINESS
June 30, 1999 | Leslie Earnest
After a six-year absence from the market, Jimmy'Z surf wear will be reintroduced in August at an apparel-industry trade show. The brand, founded in the early 1980s by surfer Jim Ganzer, is now owned by Florida-based licensing company Trends Clothing Corp. The new Jimmy'Z line, which includes styles for men, women and children, will be designed at the company's Irvine office. Trends also makes clothing for Ocean Pacific, B.U.M. Equipment and Ecko Unlimited.
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BUSINESS
June 29, 1999 | LESLIE EARNEST, TIMES STAFF WRITER
St. John Knits Inc. shareholders agreed Monday to accept a $522-million buyout offer from the company's founders and a New York investment firm, capping off the upscale clothier's most tumultuous year since it went public six years ago. The $30-a-share offer from Chief Executive Robert E. Gray and his family and Vestar Capital Partners was approved by 91% of the 13.2 million shares that were voted Monday, said R. Brian Timmons, the Grays' attorney.
BUSINESS
June 19, 1999 | Times Wire Services
Shares of Wet Seal Inc. went on a roller coaster ride Friday, tumbling 18% in early trading before rallying to move into plus territory for the day in heavy Nasdaq trading. The activity came a day after the Foothill Ranch operator of fashion stores for young women warned that second quarter earnings will be disappointing because of slower sales. The stock traded as low as $21.75 a share before bouncing back to close at $26.88, up 50 cents. Volume totaled 2.
BUSINESS
June 18, 1999 | LESLIE EARNEST, TIMES STAFF WRITER
Wet Seal Inc. warned Thursday that second-quarter profits could be flat because of a recent dip in sales. The Foothill Ranch-based retailer of young women's apparel said sales at stores open a year or more--a key measure of growth--are "down mid-single-digit" so far this quarter. It is not yet clear what effect the slower sales will have on the company's second quarter, ending July 31. But the company said earnings could be in line with year-ago results, which were 35 cents a share, or $4.
BUSINESS
June 11, 1999 | Leslie Earnest
Quiksilver Inc.'s stock has tumbled 17% in the two days since the Costa Mesa-based company announced impressive second-quarter financial results, including a 78.6% profit jump. The sportswear company issued a new release Thursday saying it is unaware of any events or developments that would account for the slumping price and heavy trading.
BUSINESS
May 26, 1999 | MARC BALLON, TIMES STAFF WRITER
Pacific Sunwear of California Inc. said Tuesday that it named a new chief operating officer to help carry out aggressive expansion plans. Mark Hoffman, 50, will fill a position at the big Anaheim youth-apparel retailer that has been vacant since Greg Weaver was promoted to chief executive in 1996. "With our growth plans going forward, we really felt we needed to fill the position," said Carl Womack, chief financial officer.
BUSINESS
May 8, 1999 | LESLIE EARNEST, TIME STAFF WRITER
Mossimo Inc. continued its slide in the first quarter, reporting Friday that it lost $1.5 million while sales dropped 42% in the three-month period. The sales decline was attributed in part to a narrower product line and the reduction of unprofitable accounts. The Irvine-based clothing designer has undergone a siege of belt-tightening as it struggled to rebound from difficulties that arose after shifting from its beachwear roots to more fashion-oriented apparel.
BUSINESS
April 29, 1999 | Leslie Earnest
A judge could rule as early as today on whether to temporarily block the sale of upscale women's clothier St. John Knits Inc. of Irvine to the family that founded it. Disgruntled shareholders are asking Orange County Superior Court Judge William F. McDonald to issue a preliminary injunction that would stall the sale of the upscale women's clothing company until the case goes to trial or is settled.
BUSINESS
April 9, 1999
Pacific Sunwear of California Inc. said Thursday that sales for the five weeks ended April 5 surged 34%, to $33.8 million. Sales at stores open at least a year--a key measure of growth--rose 7.6%. The Anaheim-based company sells surf and skate apparel and accessories at 353 stores in 43 states. Its shares fell $1.75, to $36.25, in Nasdaq trading.
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