Advertisement
YOU ARE HERE: LAT HomeCollectionsSt John Knits Inc
IN THE NEWS

St John Knits Inc

FEATURED ARTICLES
BUSINESS
March 13, 1999 | Leslie Earnest
St. John Knits Inc. said Friday that its profits fell 37% in the first quarter, the second consecutive quarterly decline for the upscale women's clothier. The Irvine company earned $5.8 million, or 34 cents a share, down from $9.2 million, or 54 cents a share, for the same period last year. Analysts had estimated earnings of 35 cents a share for the three months ended Jan. 31. Sales rose 7% to $73.4 million from $68.8 million. Sales at company-operated boutiques open at least a year rose 21%.
ARTICLES BY DATE
BUSINESS
January 27, 2001
The Irvine designer and manufacturer of women's clothing and accessories reported that net income for the fiscal fourth quarter more than doubled to $9.1 million, or $1.22 a share, from $4.5 million, or 53 cents a share, a year ago. Sales for the quarter ended Oct. 29 rose 19% to $91.3 million. For the year, net income totaled $23.8 million, or $3 a share, 62% higher than the $14.7 million, or 98 cents a share, for the prior year. Sales increased 14% to $336.5 million.
Advertisement
BUSINESS
March 27, 1993
St. John Knits Inc., the Irvine designer and manufacturer of women's clothing and accessories, said profit rose to nearly $2 million, or 24 cents a share, for its latest quarter. That was up from $512,000, or 6 cents a share, for the same period a year earlier. Sales for the company's first fiscal quarter, which ended Jan. 31, were up 26% to $20.8 million from $16.5 million.
BUSINESS
October 23, 1999 | (Leslie Earnest)
A shareholder lawsuit tied to the management-led buyout of St. John Knits Inc. has been granted class-action status by an Orange County Superior Court judge, the shareholders' attorneys said Friday. The lawsuit, which accuses the Irvine-based company and its executives of breach of duty, "self-dealing" and negligence, was certified Tuesday by Judge William F. McDonald, according to Milberg Weiss Bershad Hynes & Lerach LLP. About a half-dozen lawsuits were filed after Chief Executive Robert E.
BUSINESS
February 2, 1999 | Leslie Earnest
St. John Knits Inc. said the company's founders have extended by another day the deadline for their bid to buy the upscale clothier. The extension through today is the fourth since Chief Executive Robert E. Gray, his family and Vestar Capital Partners offered in December to buy the company's shares not already owned by the Grays for $28 a share, or $490 million. The Irvine company created an independent committee to evaluate the offer, which some investors and analysts have said is too low.
BUSINESS
June 7, 1996
St. John Knits Inc., a designer, manufacturer and marketer of women's clothing and accessories, reported a 33% increase in net income for the second quarter ended April 28 on a 23% sales gain. Net income rose to $6.8 million, or 40 cents a share, from $5.1 million, or 31 cents a share, for the second quarter last year. Sales totaled $50 million, up from $40.6 million. For the first six months, the company earned $12.5 million, or 73 cents a share, a 37% gain from $9.
BUSINESS
December 21, 1995
St. John Knits Inc. said that profit and sales surged in the fiscal year ended Oct. 29. The Irvine-based women's clothing company reported a 32% gain in profit to $19.6 million, or $2.38 a year, from $14.9 million, or $1.82 a share, for the prior year. Sales rose 26% to $161.8 million from $128 million. Earnings for the fourth quarter increased 22% to $6.2 million, or 75 cents a share, from $5.1 million, or 62 cents a share, for the same period last year. Sales increased 23% to $47.
BUSINESS
August 7, 1997 | (Greg Johnson)
St. John Knits Inc. has signed an agreement with an Aspen, Colo.-based company to open a small number of home furnishing boutiques. The deal announced on Wednesday calls for St. John Knits to make an unspecified investment in Amen Wardy Home LLC, and become a majority owner. The Colorado company, Amen Wardy, also will be an owner. The Colorado firm is owned by Amen Wardy Sr. and Amen Wardy Jr. The first Amen Wardy Home store is scheduled to open Aug. 14 in a Dallas mall.
BUSINESS
December 20, 1996
St. John Knits Inc., designer and manufacturer of women's clothing, posted record profit and sales for the fiscal year ended Nov. 3. Net income climbed 38% to $27.1 million, or $1.59 a share, from $19.6 million, or $1.19 a share, for the previous year. Sales rose 25% to $203 million from $161.8 million. Fourth-quarter earnings increased 39% to $8.6 million, or 50 cents a share, from $6.2 million, or 38 cents a share, for the like period in 1995. Sales increased 28% to $61.1 million from $47.
BUSINESS
September 8, 1993
St. John Knits Inc., the Irvine designer and manufacturer of women's clothing and accessories, reported a 9% gain in profit for its third fiscal quarter to $2.5 million, or 31 cents a share, from $2.3 million, or 28 cents a share, for the like period last year. Sales for the quarter ended Aug. 1 increased 33%, to $25 million from $18.8 million. For the first nine months of the fiscal year, profit was up from the year-earlier period, to $7.2 million, or 88 cents a share, from $4.
BUSINESS
July 8, 1999 | LESLIE EARNEST, TIMES STAFF WRITER
St. John Knits Inc. changed hands Wednesday as the founding Gray family and a New York investment firm closed a deal to buy the upscale women's clothing company for $30 a share. St. John's stock ceased trading on the New York Stock Exchange on Wednesday. Shares closed Tuesday at $29.75, a three-month high. An affiliate of New York-based Vestar Capital Partners now owns 78% of the newly structured company, St. John Knits International Inc., while Chief Executive Robert E.
BUSINESS
July 2, 1999 | LESLIE EARNEST, TIMES STAFF WRITER
St. John Knits Inc.'s buyers have kicked in $25 million more than expected and increased their bank debt after a sale of junk bonds to help finance the deal attracted insufficient interest amid fears of rising interest rates. "We ended up financing the deal at the worst possible time in the bond market," Jim Kelley, with New York-based Vestar Capital Partners, said Thursday. Vestar is buying the Irvine-based upscale women's clothing company with Chief Executive Robert E. Gray and his family.
BUSINESS
July 2, 1999 | Leslie Earnest
St. John Knits Inc.'s buyers have contributed $25 million more than expected and increased their bank debt after a sale of below-investment-grade bonds to help finance the deal attracted insufficient interest. "We ended up financing the deal at the worst possible time in the bond market," said Jim Kelley, with New York-based Vestar Capital Partners, referring to bond market fears that interest rates are on the rise.
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 10, 1999 | Leslie Earnest
Upscale women's clothier St. John Knits Inc. reported a drop in earnings for the third consecutive quarter Wednesday in the last financial report before shareholders decide whether to accept a buyout bid by Chief Executive Robert E. Gray and his family. Earnings for the second quarter ended May 2 fell 15% to $8.26 million, or 49 cents a share, from $9.74 million, or 57 cents a share for the same time period last year. The Irvine-based company said the most recent results included $1.
BUSINESS
May 1, 1999 | LESLIE EARNEST, TIMES STAFF WRITER
An Orange County judge on Friday ruled that the sale of upscale women's clothier St. John Knits Inc. to the founding Gray family could proceed, but indicated that disgruntled shareholders may be able to show that the Irvine company's directors gave the Grays special treatment in arranging the buyout. Superior Court Judge William F. McDonald said that the shareholders failed to show that an injunction stalling the company's sale was justified.
BUSINESS
January 22, 1999 | John O'Dell
Robert Gray, founder of St. John Knits Inc., has extended for the third time a $490-million cash tender offer to acquire the 86% stake in the company his family does not already own. The new deadline is Feb. 1, the Irvine-based maker of upscale women's clothing said Thursday. Gray, St. John's chairman and chief executive officer, has made the $28-per-share offer with other members of his family and Vestar Capital Partners. The offer, originally made Dec.
BUSINESS
March 13, 1999 | Leslie Earnest
St. John Knits Inc. said Friday that its profits fell 37% in the first quarter, the second consecutive quarterly decline for the upscale women's clothier. The Irvine company earned $5.8 million, or 34 cents a share, down from $9.2 million, or 54 cents a share, for the same period last year. Analysts had estimated earnings of 35 cents a share for the three months ended Jan. 31. Sales rose 7% to $73.4 million from $68.8 million. Sales at company-operated boutiques open at least a year rose 21%.
Los Angeles Times Articles
|