Jones may be pursuing shoe firm

Article Abstract:

Jones Apparel Group may acquire the largest U.S. maker of women's dress shoes, Nine West Group. Trading for both Jones New York and Nine West was halted on Tuesday on rumors of the acquisition. Jones may buy Nine West for $27 a share, or about $917.6 million. Nine West stock has risen 30% in the last two weeks on the strength of the rumor as it was reported in Women's Wear Daily. Jones closed at $25.94, down from $27.31 on heavy trading. The stock has been climbing from the upper teens in mid-October to a high of $31.25 in late January. Nine West's stock hit a low of $7.44 in October, but has risen steadily to yesterday's high of $22.81 on volume three times higher than the average for the last six months.

Asset sales & divestitures, Acquisitions & mergers, APPAREL AND OTHER TEXTILE PRODUCTS, Apparel & Shoe Stores, Clothing and Clothing Accessories Stores, Apparel & Related Products, Apparel Manufacturing, APPAREL AND ACCESSORY STORES, Jones Apparel Group Inc., JNY, Nine West Group Inc. (White Plains, Connecticut), NIN

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One final bow, then Encore Books will close; chains and online sites killed us, the parent company says

Article Abstract:

Encore Books (Harrisburg, PA) has decided to liquidate on Jun 10, 1999, after a final sale of over $29 million in books. The store had a loyal Philadelphia customer base, but failed to compete successfully with large chains and online retailers. Encore's parent company, Lauriat's Inc, is trying to sell the stores to other retailers. About 800 workers will eventually lose their jobs. One Encore's manager interviewed said Lauriat's and Encore never quite meshed, and that Lauriat's did not have enough money to put into the discount chain.

Organizational history, Book Stores, Pennsylvania, Bookstores, Encore Books Inc., Lauriat's Inc.

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