Fingerhut gives Federated edge in E-commerce

Article Abstract:

Federated Department Stores Inc.'s purchase of Fingerhut Companies Inc. has generated a coup against rival Wal-Mart Stores Inc. Wal-Mart has signed an electronic commerce contract with Fingerhut and Federated will see a cut of each purchase made. Electronic commerce is a burgeoning retail business and Federated seems to be ahead of its rivals in this area. Fingerhut, a mail-order services provider, is one of the companies that stands to profit immensely from the services it provides to those retailers marketing on the Web, and is thus an enticing prospect to investors. Federated's stock has risen 29% since its Feb. 1999 acquisition of Fingerhut. Fingerhut's Business Services division has considerable growth plans, three warehouses, large customer databases and much-prized experience in direct-marketing to the consumer. Federated expects Fingerhut to supply 15% of its revenue in the near future.

Marketing procedures, Contracts & orders received, Department Stores, Mail Order Houses, Electronic Shopping and Mail-Order Houses, Catalog and mail-order houses, All Other Specialty Food Stores, Variety stores, Discount Stores, Finance, Wal-Mart Stores Inc., Contracts, WMT, Mail-order industry, Mail order business, Electronic commerce, E-commerce, Contract agreement, FD, Fingerhut Companies Inc., FHT, Macy's Inc.

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Levi Strauss to close half of its plants in North America, slashing 5,900 jobs

Article Abstract:

Levi Strauss has watched its jeans sales slip a lot starting in about 1990 due to competition in price or in style. Now it has announced that 30% of its North American workforce will be laid off, closing a total of 11 manufacturing plants. The company is offering a very generous exit package to help ease the pain.

Comment:

Competition finally caught up with the company that made jeans for the gold-miners

Plant shutdown, Cut and Sew Apparel Manufacturing, APPAREL AND OTHER TEXTILE PRODUCTS, Men's & Women's Jeans, Abstract, Buildings and facilities, Clothing industry, Levi Strauss & Co., Jeans (Clothing)

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