August 21, 1985 |
Climbing back from its bout with bankruptcy reorganization, Wickes Cos. on Tuesday reported second-quarter net income of $12.7 million on sales of $840 million, up from net income of $12.2 million on sales of $805.5 million in the same quarter of 1984. Operating income showed an even more dramatic increase, jumping to $42.2 million in the quarter ended July 27 from $15.3 million in the same period last year.
March 21, 1985 |
Santa Monica-based Wickes Cos., which recently emerged from proceedings under Chapter 11 of the U.S. Bankruptcy Code, on Wednesday reported increased income from continuing operations and higher sales for the year and fourth quarter ended Jan. 26. For the 12 months, income from continuing operations, including an after-tax gain of about $5.7 million from the sale of securities, rose to $9.7 million from $9.5 million. The diversified retailer's sales for the year were $3.03 billion, up from $2.
August 26, 1986 |
Wickes Cos., the resurgent lumber and building products retailer that is trying to buy Owens-Corning Fiberglas, on Monday reported that net income rose to $26.9 million for the second quarter ended July 26 from $12.7 million in the year-ago period. Sales for the period also more than doubled, increasing to $1.1 billion from $496.7 million, largely on the strength of the acquisition last September of Gulf & Western's consumer and industrial products group.
April 26, 1986 |
Wickes Cos., which made a surprise offer for National Gypsum three weeks ago, said Friday that it sold its stake in the Dallas firm for a $3-million profit. But Wickes did not formally withdraw its tender offer. The Santa Monica company said it might raise its price if a management buy-out offer, approved by National Gypsum's board, falls through, which company observers say is unlikely. Thus, the stock sale was interpreted as the end of Wickes' attempt to buy the home building products company.
December 7, 1989 |
L. J. Hooker Corp., which recently failed to find a buyer for its B. Altman & Co. department store chain, today announced it has decided to sell two more retailers, Bonwit Teller and Sakowitz. The proposed sale of Bonwit Teller reverses Hooker's previous plan to retain the century-old 16-store chain.
June 30, 1989 |
Builders Emporium, the Irvine-based home improvement chain, has named James T. McKitrick as its new president and chief executive. He succeeds acting president Ted W. Kazleman, who continues as executive vice president. Kazleman had assumed the presidency in April when Jack Edwards resigned as president and chief executive for personal reasons. The changes are effective immediately. McKitrick, 43, previously was executive vice president and chief administrative officer of Ames Department Stores and chairman of its Zayre Discount Stores.
March 20, 1987
Wickes Cos. reported a $2.5-million loss for the fourth quarter, compared to net income of $28.6 million in the same quarter a year ago. Operating income was $72.7 million for the three months ended Jan. 31, up nearly 40% from $52 million in the same period of the previous fiscal year. Sales of the Santa Monica-based company rose to $1.4 billion from $885.3 million, up 59%. The loss for the quarter was the result of sharply higher interest expense and a $6.
CALIFORNIA | LOCAL
November 20, 1993
Gov. Wilson's nominee to be state superintendent of public instruction is way out of the loop as far as the educational Establishment is concerned. But as an outsider, Sanford C. Sigoloff's contribution in the job--should he be confirmed--could be to deliver a fresh assessment of the state education scene.
January 22, 1986 |
Wickes Cos. said Tuesday that it has agreed to sell two Midwestern retail chains and an insurance unit for about $100 million and also announced a reorganization of its consumer and industrial products group acquired last year from Gulf & Western Industries. The sale is not expected to have a material affect on the Santa Monica-based company's profitability, Wickes said.
August 25, 1993 |
Builders Emporium, which started as a modest hardware store in the San Fernando Valley and grew to become the largest home improvement chain in Southern California, said Tuesday that it will close all of its 82 California retail outlets and lay off nearly all of its 3,800 Southland workers by the end of October.