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BUSINESS
March 2, 1991 | BRUCE HOROVITZ, TIMES STAFF WRITER
L.A. Gear's ad agency has given the sneaker maker the boot. The Los Angeles office of BBDO Worldwide on Friday said it was resigning the account primarily because of creative and strategic differences. The loss of its ad agency--which L.A. Gear named with great hoopla just three months ago--represents yet another in a series of blows the once high-flying Marina del Rey firm has suffered recently. Earlier this week rival Nike Inc. sued L.A.
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BUSINESS
October 22, 1996 | From Bloomberg Business News
Kani Inc., a designer shoemaker created by the founder of L.A. Gear, plans to sell 1.4 million common shares in an initial public offering, according to papers filed Monday with the Securities and Exchange Commission. The Manhattan Beach-based company filed to register the stock for sale, saying it expects to price the shares in the $10- to $12-a-share range. Kani is headed by Robert Greenberg, who founded Santa Monica-based L.A.
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BUSINESS
November 23, 1991 | CARLA LAZZARESCHI, TIMES STAFF WRITER
L.A. Gear, whose athletic shoe and apparel business hit the skids about a year ago, said Friday that it expects to lay off 400 workers--nearly a third of its work force--in the next 12 months. The once-high-flying casual wear and shoe company said the initial cuts--expected in a few months--will affect 250 employees. The company employs about 1,250, most in Southern California. The initial layoffs will primarily hit workers in L.A.
CALIFORNIA | LOCAL
July 24, 1992 | JESSE KATZ, TIMES STAFF WRITER
Los Angeles' street gangs, which have been known to kill over a pair of athletic shoes, now hope to make a killing by designing and selling a brand of their own. Combining urban street culture and unabashed capitalism, gang members from the Eastside and South-Central have joined forces with a local sneaker company to create a new line of mid-priced footwear they will sell in 20 outlets to be opened in the year ahead in depressed areas throughout the city.
BUSINESS
April 4, 1991 | From a Times Staff Writer
Sneaker maker L.A. Gear on Wednesday reported a first-quarter loss of $12.5 million, its second unprofitable quarter in a row. The Marina del Rey-based company, the nation's No. 3 sneaker firm, announced previously that it would lose money in the three-month period ended Feb. 28. L.A. Gear has been hurt by, among other things, the nationwide retailing slowdown and the company's apparent lack of new hit products.
BUSINESS
August 1, 1991 | STUART SILVERSTEIN, TIMES STAFF WRITER
The investment fund that has agreed to pump $100 million into L.A. Gear is calling for major management changes at the slumping sneaker firm, including the appointment of a chief operating officer. L.A. Gear, which grew explosively during the past six years to become the nation's No. 3 sneaker marketer, said it agrees with the proposals by the investment fund, Trefoil Capital Investors. Until now, the firm has never had a chief operating officer. A spokesman representing L.A.
BUSINESS
June 2, 1990 | STUART SILVERSTEIN, TIMES STAFF WRITER
Fast-growing L.A. Gear, which sprinted in recent years into the ranks of the nation's top sneaker firms, announced its first bad fall Friday. The company estimated that its second-quarter profit would be off as much as 40% from a year ago. The news devastated the company's stock, the biggest gainer on the New York Stock Exchange last year. It closed at $30.75, down $8.50 for the day. With 6.6 million shares trading hands, it was the most actively traded issue on the Big Board.
BUSINESS
October 22, 1996 | From Bloomberg Business News
Kani Inc., a designer shoemaker created by the founder of L.A. Gear, plans to sell 1.4 million common shares in an initial public offering, according to papers filed Monday with the Securities and Exchange Commission. The Manhattan Beach-based company filed to register the stock for sale, saying it expects to price the shares in the $10- to $12-a-share range. Kani is headed by Robert Greenberg, who founded Santa Monica-based L.A.
CALIFORNIA | LOCAL
July 24, 1992 | JESSE KATZ, TIMES STAFF WRITER
Los Angeles' street gangs, which have been known to kill over a pair of athletic shoes, now hope to make a killing by designing and selling a brand of their own. Combining urban street culture and unabashed capitalism, gang members from the Eastside and South-Central have joined forces with a local sneaker company to create a new line of mid-priced footwear they will sell in 20 outlets to be opened in the year ahead in depressed areas throughout the city.
BUSINESS
November 23, 1991 | CARLA LAZZARESCHI, TIMES STAFF WRITER
L.A. Gear, whose athletic shoe and apparel business hit the skids about a year ago, said Friday that it expects to lay off 400 workers--nearly a third of its work force--in the next 12 months. The once-high-flying casual wear and shoe company said the initial cuts--expected in a few months--will affect 250 employees. The company employs about 1,250, most in Southern California. The initial layoffs will primarily hit workers in L.A.
BUSINESS
August 1, 1991 | STUART SILVERSTEIN, TIMES STAFF WRITER
The investment fund that has agreed to pump $100 million into L.A. Gear is calling for major management changes at the slumping sneaker firm, including the appointment of a chief operating officer. L.A. Gear, which grew explosively during the past six years to become the nation's No. 3 sneaker marketer, said it agrees with the proposals by the investment fund, Trefoil Capital Investors. Until now, the firm has never had a chief operating officer. A spokesman representing L.A.
BUSINESS
April 4, 1991 | From a Times Staff Writer
Sneaker maker L.A. Gear on Wednesday reported a first-quarter loss of $12.5 million, its second unprofitable quarter in a row. The Marina del Rey-based company, the nation's No. 3 sneaker firm, announced previously that it would lose money in the three-month period ended Feb. 28. L.A. Gear has been hurt by, among other things, the nationwide retailing slowdown and the company's apparent lack of new hit products.
BUSINESS
March 2, 1991 | BRUCE HOROVITZ, TIMES STAFF WRITER
L.A. Gear's ad agency has given the sneaker maker the boot. The Los Angeles office of BBDO Worldwide on Friday said it was resigning the account primarily because of creative and strategic differences. The loss of its ad agency--which L.A. Gear named with great hoopla just three months ago--represents yet another in a series of blows the once high-flying Marina del Rey firm has suffered recently. Earlier this week rival Nike Inc. sued L.A.
BUSINESS
June 2, 1990 | STUART SILVERSTEIN, TIMES STAFF WRITER
Fast-growing L.A. Gear, which sprinted in recent years into the ranks of the nation's top sneaker firms, announced its first bad fall Friday. The company estimated that its second-quarter profit would be off as much as 40% from a year ago. The news devastated the company's stock, the biggest gainer on the New York Stock Exchange last year. It closed at $30.75, down $8.50 for the day. With 6.6 million shares trading hands, it was the most actively traded issue on the Big Board.
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