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BUSINESS
November 4, 2006 | From Reuters
Regional department store chain Gottschalks Inc. said Friday that it was evaluating strategic alternatives, including a possible sale of the company. The Fresno-based company, with 61 department stores in six Western states, said it did not intend to provide updates on the progress of the review until a specific transaction is approved.
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BUSINESS
July 4, 2006 | From the Associated Press
The chairman of Gottschalks Inc. is stepping down and handing over the direction of the Fresno-based department store chain to a successor who is not part of the founding family. Joseph Levy, 74, said at the company's annual meeting that he would remain on the board until the end of the year. Levy, the grandnephew of company founder Emil Gottschalk, is the last member of the founding family to work full time at the company.
BUSINESS
July 4, 2006 | From the Associated Press
The chairman of Gottschalks Inc. is stepping down and handing over the direction of the Fresno-based department store chain to a successor who is not part of the founding family. Joseph Levy, 74, said at the company's annual meeting that he would remain on the board until the end of the year. Levy, the grandnephew of company founder Emil Gottschalk, is the last member of the founding family to work full time at the company.
BUSINESS
July 31, 1992 | MARK ARAX, TIMES STAFF WRITER
Gottschalks department stores, a Fresno-based company with 25 retail outlets in California, Oregon and Washington, pleaded guilty Thursday to three counts of tax and securities fraud. Assistant U.S. Atty. Bob Twiss described the $1.5 million in criminal fines that Gottschalks has agreed to pay as "a real heavy hit," the maximum amount the government can assess. In addition, the company will pay more than $2 million in unpaid taxes, penalties and interest.
BUSINESS
July 2, 1992 | GEORGE WHITE, TIMES STAFF WRITER
Gottschalks, the Fresno-based department store chain, has revealed that its two top executives and the company itself could be indicted in connection with an improper federal income tax deduction. That announcement, contained in a proxy statement for the company's upcoming annual meeting, was the first official word that Board Chairman Joseph Levy and President Gerald Blum were targets of a federal investigation.
BUSINESS
June 26, 1992 | From Times Staff and Wire Reports
3 Plead Innocent in Tax Fraud Case: The former chief financial officer of Fresno-based Gottschalks and two other men have pleaded innocent to tax fraud charges. Robert Lawson and outside consultants Barry Schotz and John Nistico were arraigned in federal court in Fresno in connection with an alleged $1.6-million tax fraud scheme. Jack Farnesi, the retailer's former controller, is expected to enter a plea later. Lawson and Farnesi were fired after Gottschalks announced the IRS investigation.
BUSINESS
November 4, 2006 | From Reuters
Regional department store chain Gottschalks Inc. said Friday that it was evaluating strategic alternatives, including a possible sale of the company. The Fresno-based company, with 61 department stores in six Western states, said it did not intend to provide updates on the progress of the review until a specific transaction is approved.
BUSINESS
August 31, 2005 | From Associated Press
Gottschalks Inc. said Tuesday that second-quarter profit grew 16% as a broader selection of sportswear, accessories, shoes and junior fashions boosted sales. Net income rose to $259,000 from $224,000 in the year ago period, with per-share earnings flat at 2 cents as the number of shares outstanding increased nearly 5%. The Fresno-based retailer said the recent quarter included about $200,000 in store-opening expenses. Gottschalks said revenue rose 3% to $153 million from $149.3 million.
BUSINESS
August 28, 2002 | Reuters
Gottschalks Inc. reported a smaller net loss for the second quarter and said it was "cautiously optimistic" for the rest of the year. The Fresno-based department store firm reported a net loss of $2.1 million, or 17 cents a share, compared with a net loss of $2.8 million, or 22 cents, a year ago. Sales fell 1.8% to $155.9 million. Gottschalks shares closed down 5 cents at $2.30 on the New York Stock Exchange.
BUSINESS
July 8, 1997 | From Times Staff and Wire Reports
Gottschalks Inc., the Fresno-based department store chain that recently began posting a profit after years of losses, on Monday agreed to buy nine department stores for about $38.1 million in stock and debt from Spain's largest retailer. Gottschalks, which operates stores in Central California and three other states, said it will acquire Harris Co., a chain of nine stores in the Inland Empire. San Bernardino-based Harris is wholly owned by El Corte Ingles of Spain.
BUSINESS
March 6, 1997 | Times Staff and Wire Reports
Stephen Furst has announced that he is leaving his job as president of the Gottschalks department store chain. Furst cited "professional and personal reasons" for his decision but did not elaborate. Furst, 53, said the chain was not profitable when he became president in 1993 but now "is in the black." Last week, Gottschalks reported a $1.8-million profit for the 1996 fiscal year after losses in 1992, 1993 and 1995. Gottschalks Chairman Joe Levy said it was Furst's decision to leave.
BUSINESS
July 31, 1992 | MARK ARAX, TIMES STAFF WRITER
Gottschalks department stores, a Fresno-based company with 25 retail outlets in California, Oregon and Washington, pleaded guilty Thursday to three counts of tax and securities fraud. Assistant U.S. Atty. Bob Twiss described the $1.5 million in criminal fines that Gottschalks has agreed to pay as "a real heavy hit," the maximum amount the government can assess. In addition, the company will pay more than $2 million in unpaid taxes, penalties and interest.
BUSINESS
July 2, 1992 | GEORGE WHITE, TIMES STAFF WRITER
Gottschalks, the Fresno-based department store chain, has revealed that its two top executives and the company itself could be indicted in connection with an improper federal income tax deduction. That announcement, contained in a proxy statement for the company's upcoming annual meeting, was the first official word that Board Chairman Joseph Levy and President Gerald Blum were targets of a federal investigation.
BUSINESS
August 31, 2005 | From Associated Press
Gottschalks Inc. said Tuesday that second-quarter profit grew 16% as a broader selection of sportswear, accessories, shoes and junior fashions boosted sales. Net income rose to $259,000 from $224,000 in the year ago period, with per-share earnings flat at 2 cents as the number of shares outstanding increased nearly 5%. The Fresno-based retailer said the recent quarter included about $200,000 in store-opening expenses. Gottschalks said revenue rose 3% to $153 million from $149.3 million.
BUSINESS
June 26, 1992 | From Times Staff and Wire Reports
3 Plead Innocent in Tax Fraud Case: The former chief financial officer of Fresno-based Gottschalks and two other men have pleaded innocent to tax fraud charges. Robert Lawson and outside consultants Barry Schotz and John Nistico were arraigned in federal court in Fresno in connection with an alleged $1.6-million tax fraud scheme. Jack Farnesi, the retailer's former controller, is expected to enter a plea later. Lawson and Farnesi were fired after Gottschalks announced the IRS investigation.
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