Footwear News articles from October 1987

Footwear News archives from October 1987

Footwear issues take a seesaw ride on market. (stock exchange)
October 26, 1987... Footwear issues take seesaw ride on market Footwear issues took a roller coaster ride with the rest of the stock market last week, sliding steeply, climbing upward and falling again, last Thursday. Many of the footwear stocks, whose...

Woitschaetzke is Puma CEO and chairman. (Hans Woitschaetzke)
October 26, 1987... Woitschaetzke is Puma CEO and chairman Hans Woitschaetzke, 47, has been named chief executive officer and chairman of Puma AB and chairman of its management board, replacing Armin Dassler, who has stepped down. Dassler and his brother...

Craddock-Terry files chap. 11; seeks loan. (Craddock-Terry Shoe Corp. )
October 26, 1987... Craddock-Terry files Chap. 11; seeks loan Craddock-Terry Shoe Corp. Friday filed a motion in the bankruptcy division of U.S. District Court for the Western District of Virginia here asking for authority to borrow funds from a Chicago...

Retail-apparel sector leads stock market slide.
October 26, 1987... Retail-apparel sector leads stock market slide The retail-apparel sector led the recent stock market slide, which climaxed in last Monday's collapse, as many of those stocks, including some footwear issues, began to soften weeks earlier....

Some footwear execs lose significantly on paper. (stock market collapse)
October 26, 1987... Some footwear execs lose significantly on paper Some footwear industry executives suffered significant paper losses in last week's stock market crash, according to an examination of their holdings at the time of their last proxy statements....

Sept. shoe prices up 1.5%.
October 26, 1987... Sept. shoe prices up 1.5% Retail footwear prices in September increased 1.5 percent from August and 3.3 percent from September 1986 prices, the Labor Department reported. Seasonally adjusted, last month's prices for footwear rose 0.5...

U.S. Shoe an enigma. (footwear industry)
October 26, 1987... U.S. Shoe an enigma The strength of U.S. Shoe Corp. stock in a down retail market has added to recent speculation that the company is a takeover target. Securities analysts said last week that U.S. Shoe stock, before and even during...

Armira shuts Bolivar plant. (Armira Leather Co.; Tennessee)
October 26, 1987... Armira shuts Bolivar plant Armira Leather Co. closed its tannery recently in a labor dispute. John Coli, president of the firm, which is one-third employee-owned, said the future of the company, a major supplier of medium to heavy side...

Taiwan may cut duty on shoe imports to 5%.
October 26, 1987... Taiwan may cut duty on shoe imports to 5% Taiwan's finance ministry has proposed that import duties on footwear be cut from the present 7.5 percent to 5 percent as part of sweeping reductions of most of the items on its tariff schedule. ...

Acme's Luccese boot store fetes Westernalia. (Acme Boot Co.)
October 26, 1987... Acme's Lucchese boot store fetes Westernalia Acme Boot Co.'s only Lucchese boot store, the scene of a grand opening recently, is a celebration of Western lifestyle. San Antonio is where Lucchese began in 1883. The relocated store is...

Dart drops effort to buy Dayton-Hudson; eyes loss.
October 26, 1987... Dart drops effort to buy Dayton-Hudson; eyes loss In the face of a wildly volatile stock market, the Dart Group has abandoned its effort to acquire Dayton-Hudson Corp. and expects to take an after-tax loss of about $70 million for its...

From hip to hardcore, hiking market profits. (hiking shoes)
October 26, 1987... From hip to hardcore, hiking market profits Companies catering to both the hardcore and the hip are finding the U.S. hiking footwear market increasingly profitable. Active footwear retailers surveyed by FN unanimously drew distinctions...

Autry debuts Shox, expands distribution. (Autry Industries Inc.)
October 26, 1987... Autry debuts Shox, Expands distribution Autry Industries Inc. has introduced technology, as well as expanded its distribution in the U.S. and overseas, in an effort to pump new energy into the company. Called Autry Shox, Autry's new...

Inventor resurrects BOSS after Spalding pact KOd. (Gary Zaccaria; Biomechanical Orthopedic Support Strap)
October 26, 1987... Inventor resurrects BOSS after Spalding pact KOd Biomechanical Orthopedic Support Strap (BOSS) is being resurrected by its inventor a year after he terminated a licensing agreement with Spalding International Footwear, New York. Gary...

NYCS hit with 5-count class action complaint. (New York City Shoes Inc.)
October 26, 1987... NYCS hit with 5-count class action complaint A five-count consolidated and amended class action complaint was filed in U.S. District Court here against present and former executives of New York City Shoes Inc. (NYCS), currently embroiled...

Puma management outlines restructuring plans. (Puma AG)
October 26, 1987... Puma management outlines restructuring plans Armin Dassler, who stepped down as chairman of the management board of Puma AG last weck, denied reports Puma might be sold, but conceded that others who have taken over the company's operations...

Potter will wind down after 122 years.
October 19, 1987... Potter will wind down after 122 years For many years, the Potter Shoe Co. had a silver service on a lace tablecloth in its main downtown store and someone to pour tea for customers who drove up in horse-drawn carriages. But that was...

Rene Jaeggi given top post at Adidas.
October 19, 1987... Rene Jaeggi given top post at Adidas Rene C. Jaeggi, 38, has been appointed chairman of the management board of Adidas Sportschuhfabriken, succeeding the late Horst Dassler, whose unexpected death in April provoked persistent speculation...

Converse has high hopes in Jack Purcell shoe. (athletic shoes)
October 19, 1987... Converse has high hopes in Jack Purcell shoe With the current demand for classics like the Keds Champion Oxford, the Treton Nylite and the Converse All Star, can the Jack Purcell shoe be far behind as a success story? Converse is hoping...

Hear Puma AG close to being bought by Dunlop Slazenger.
October 19, 1987... Hear Puma AG close to being bought by Dunlop Slazenger Puma AG, the financially troubled West German athletic footwear manufacturer, reportedly is close to being acquired by Dunlop Slazenger International, a division of London-based BTR...

Imports head down 3.8% in August. (footwear)
October 19, 1987... Imports head down 3.8% in August Shoe imports declined slightly in August, continuing the trend of virtually level import growth this year, but foreign suppliers still continue to capture a larger share of the domestic market, according to...

Over-the-knee boots, grannies selling fast. (boot styles)
October 19, 1987... Over-the-knee boots, grannies selling fact A range of boot styles and colors--from the new over-the-knee look to the more traditional short bootie--are contributing to an extremely strong boot selling season, according to a national survey...

Cheskin shifts plea to guilty. (Melvyn Cheskin, footwear consultant)
October 19, 1987... Cheskin shifts plea to guilty Athletic footwear consultant Melvyn Cheskin pleaded guilty in U.S. District Court here last Friday to charges of conspiracy and attempting to traffic in counterfeit goods. Cheskin, who changed his plea from...

Craddock-Terry lets go most of its sales force. (shoe manufacturing)
October 19, 1987... Craddock-Terry lets go most of its sales force Craddock-Terry Shoe Corp. last week laid off most of its remaining sales force, about 35-40 representatives, most of them in the women's divisions but also including the men's division. ...

Kinder-Care plan to buy Shoe City raises brows. (footwear retail)
October 19, 1987... Kinder-Care plan to buy Shoe City raises brows Retail stocks are flagging, interest rates are climbing and the consumer spending outlook is softening. So why will Kinder-Care Inc., a day care concern, spend between $44 million and $64...

Federal Int'l suspends plan for public offer. (shoe retail trade)
October 19, 1987... Federal Int'l suspends plan for public offer Federal International Inc., a shoe retailer and wholesaler, has postponed plans to make an initial public offering (IPO) of common stock for between $6-$8 a share, due to stock market conditions....

Hong Kong will exhibit at N.Y. shows next year. (footwear industry)
October 19, 1987... Hong Kong will exhibit at N. Y. shows next year Hong Kong is looking to increase its footwear sales to its single largest market, the U.S., and plans to exhibit for the first time at the New York shoe shows next year. Under the...

Reebok 3d quarter earnings peak. (athletic shoe industry)
October 19, 1987... Reebok 3d quarter earnings peak Reebok International Ltd. reported earnings advanced 10.3 percent in the third quarter ended Sept. 30, while sales short up 41.3 percent. Third-quarter record earnings amounted to $49,723,000 or 44 cents...

Flat footwear presented by California designers.
October 19, 1987... Flat footwear presented by California designers It may not have the history of Paris or the activity of New York, but yes, Virginia, California is still the first word on fashion trends. And to prove it, last month, the California Mart...

Labor market scrunch hurts Pa. kids' makers. (Pennsylvania footwear industry)
October 19, 1987... Labor market scrunch hurts Pa. kids' makers A tight labor market and lagging deliveries of certain vital materials are causing problems for central Pennsylvania producers of children's footwear, as they move into the close of 1987. ...

Etonic CEO denies firm is up for sale. (Etonic-Tretorn athletic shoes, Thore Ohlsson)
October 19, 1987... Etonic CEO denies firm is up for sale Thore Ohlsson, chief executive officer of Etonic-Tretorn, emphatically denied industry reports that the Etonic division of Aritmos, its Swedish parent company, was on the selling block. "Since...

Kaepa to drop dual lacing for lace lock. (shoe lace system)
October 19, 1987... Kaepa to drop dual lacing for lace lock The dual-lacing system Kaepa Inc. was founded upon is being phased out in favor of a newly patented lace lock with just one lace, which the company's new management is using to stage a turnaround in...

ITC approves upgraded definition of slippers. (International Trade Commission)
October 19, 1987... ITC approves upgraded definition of slippers A new definition for classifying slippers, which was honed to more accurately quantify import statistics under the Harmonized System, was recently approved by the International Trade Commission...

Vernon will shut down by the end of November. (Vernon Leather Co.)
October 19, 1987... Vernon will shut down by the end of November Vernon Leather Co., a cattle hide tanner based here, and a division of Beggs & Cobb Corp., Peabody, Mass., will be closing, according to Robert Remis, president and principal shareholder. ...

Cherokee qtr. net soars, but stock price stays low.
October 19, 1987... Cherokee qtr. net soars, but stock price stays low The Cherokee Group turned in stellar third-quarter operating figures, but those results were not reflected in its stock price, which analysts called undervalued given the company's growth....

Marc Alpert has closed men's shoe division. (footwear industry)
October 19, 1987... Mare Alpert has closed men's shoe division Marc Alpert, a division of Intercontinental Trading Inc., closed its men's footwear division last week, terminating John Balek, general manager of the division, and two sales people. "Results...

Children's packaging makes a strong selling statement. (children's footwear report)
October 12, 1987... Children's packaging makes a strong selling statement Packaging, traditionally a major selling factor for children's merchandise, has only lately become a buzz word in the children's footwear industry --specifically, the canvas area. ...

Infants', kids' mart is athletics' growth hormone. (children's footwear report)
October 12, 1987... Infants', kids' mart is athletics' growth hormone The infants' and children's market is as big for athletic footwear companies as the shoes are little, but not so elementary. Kids under the age of 10, as well as the moms who dress them,...

Anderson new Brown Group prexy. (Richard L. Anderson)
October 12, 1987... Anderson new Brown Group prexy Richard L. Anderson, president of Wohl Shoe Co., was elected president of the parent Brown Group Inc. last week by the company's board of directors. B.A. Bridgewater Jr. had been serving as both chairman...

Quiet sports expo airs price and performance. (World Sport Expo '88)
October 12, 1987... Quiet Sports Expo airs price and performance Quiet resounded at last week's World Sports Expo '88, where athletic footwear industry sources discussed pricing, performance and the need for only one sporting goods trade show in the fall. ...

Taiwan backs shoe makers in restructuring. (footwear industry)
October 12, 1987... Taiwan backs shoe makers in restructuring The government of Taiwan stands firmly behind the Taiwanese shoe industry's efforts to drastically restructure by reducing costs and upgrading quality, productivity, and profitability, according to...

Bear Stearns acquires major interest in Unisa. (women's footwear)
October 12, 1987... Bear Stearns acquires major interest in Unisa Bear Stearns, the New York investment bank, has acquired an interest in Unisa International Inc., and may underwrite an initial public offering (IPO) for the women's footwear importer, Unisa...

Mercury Int'l to drop Boston Traders name. (footwear industry)
October 12, 1987... Mercury Int'l to drop Boston Traders name Mercury International Trading Corp. will not continue to license the Boston Traders name for footwear, Ed Tognoni, president of Mercury's branded division, disclosed last week. Mercury, which...

Clark names Clothier group managing director. (John Clothier)
October 12, 1987... Clark names Clothier group managing director C.&J. Clark Ltd. last week appointed John Clothier, a member of the Clark family, group managing director, effective immediately. Clothier, 41, had been managing director of Clarks Shoes...

1st year Lauren flagship sales exceed $3 million. (Ralph Laurel Footwear)
October 12, 1987... 1st year Lauren flagship sales exceed $3 million Approximately one year ago, officials at Ralph Lauren Footwear projected sales in the Ralph Lauren flagship store on Madison Avenue at about $1,100,000, but as the year came to a close they...

Congress keys Canada trade. (footwear trade)
October 12, 1987... Congress keys Canada trade Canadian tariffs on imported American footwear will be phased out within 10 years if the free-trade-zone agreement reached with U.S. negotiators last week is ratified by Congress. According to Footwear...

Hong Kong having an 'over-achiever' problem.
October 12, 1987... Hong Kong having an "over-achiever' problem Hong Kong's footwear industry is grappling with a problem many countries would envy: too much business and not enough help. But the solution could raise production costs and undermine the...

Asics has problems with Japanese market. (Asics Corp.)
October 12, 1987... Asics has problems with Japanese market While its U.S. sales look rosy, Asics Corp. has been having problems at home, and president Kihachiro Onitsuka is giving out cautious estimates of Japanese sales for the next year. "The sports...

Developing U.S. market is Asics' top priority. (athletic shoes industry)
October 12, 1987... Developing U.S. market is Asics' top priority Asics Corp., maker of the Tiger brand athletic shoe, is out to conquer the world of sporting goods, and America is its number one target. "To internationalize the company, our main concern...

Customs mulls 37.5% rate for some golf shoes.
October 12, 1987... Customs mulls 37.5% rate for some golf shoes Golf shoes with plastic uppers are under consideration by U.S. Customs Service to be classified as protective footwear, carrying a higher duty rate of 37.5 percent, rather than the present 6...

Reebok scores qtr. sales hike despite Korea woes. (athletic shoe industry)
October 12, 1987... Reebok scores qtr. sales hike despite Korea woes Paul Fireman, chairman of Reebok International Ltd., Canton, Mass., last week touted the company's third-quarter sales performance that occurred despite chronic delivery delays, which are...

Garfinkel's may sell, lease flagship building. (retail trade)
October 12, 1987... Garfinckel's may sell, lease flagship building Garfinckel's new chief executive officer and president, Neal J. Fox, said he may sell and lease back the downtown flagship building, which was part of the $95 million acquisition of...

Craddock closes down its last plant. (Craddock-Terry Shoe Corp.)
October 5, 1987... Craddock closes down its last plant Craddock-Terry Shoe Corp. closed the last of its five factories last week as a search continued for a buyer for the company that has been plagued for many months by cash flow problems. Alan Salke,...

Hanson has confirmed reports it may divest E-J. (Hanson Industries, Endicott Johnson)
October 5, 1987... Hanson has confirmed reports it may divest E-J Hanson Industries last Thursday confirmed reports it may divest Endicott Johnson, disclosing that it has retained Rothschild Inc., an investment bank, to evaluate a possible sale of the...

Nike takeover target? Opinions sharply split. (Nike Inc.)
October 5, 1987... Nike takeover target? Opinions sharply split Is Nike Inc. a likely takeover target? It depends on who one asks. The latest Heninger/Noell Weekly M&A Greensheet featured Nike in a section of its mergers and acquisitions newsletter...

Skateboard line demand overwhelms Airwalk. (Items International skateboarding shoe)
October 5, 1987... Skateboard line demand overwhelms Airwalk Blasting onto the athletic footwear scene as if it were shot from a cannon, Items International has taken on the skateboard market with its branded line Airwalk. The reaction reportedly has...

Woburn show reflects 'back to domestics' push. (New England Leather and Components Suppliers Show, Woburn, Massachusetts)
October 5, 1987... Woburn show reflects "back to domestics' push Taking advantage of reported late deliveries and rising prices in the Far East, domestic manufacturers last week rallied to present their lastest products at the New England Leather & Components...

Fisher Camuto cleared of price-fixing charge.
October 5, 1987... Fisher Camuto cleared of price-fixing charge Ruling in the case for the second time, U.S. District Judge Daniel H. Huyett 3d, has granted summary judgment in favor of three defendants accused by two operators of retail footwear businesses...

Dart seeks DH meeting to eject board members. (Dayton Hudson Corp. takeover attempt)
October 5, 1987... Dart seeks DH meeting to eject board members Dart Group Corp., escalating its pursuit of Dayton Hudson Corp. for the third straight day, set in motion the mechanism to call a special meeting of DH shareholders to throw out the board. ...

Capital show draws 10% rise in buyer traffic.
October 5, 1987... Capital show draws 10% rise in buyer traffic About 300 retailers attended this year's Capital Shoe Market, 10 percent more than last year, and they were optimistic about higher footwear sales during the fall and holiday seasons. The...

Avia eyes 30% of cross-training mart next year. (Avia Group International)
October 5, 1987... Avia eyes 30% of cross-training mart next year Officials at Avia Group International Ltd. expect to capture 30 percent of the market for cross-training footwear next year, predicting sales of its new Transport series will reach $30 million....

'88 Diadora USA sales are expected to double.
October 5, 1987... '88 Diadora USA sales are expected to double Sales are expected to double next year at Diadora USA--one of the first in a long line of Italian athletic footwear companies that are seducing American retailers and consumers. Diadora...

U.S. Shoes hires Saliman, Barrett. (Jordie Saliman, James S. Barrett )
October 5, 1987... U.S. Shoe hires Saliman, Barrett A U.S. Shoe Corp. executive termed it adding "bench strength' last week when the company re-hired Jordie Saliman, former president of the French Shriner division, and hired James S. Barrett, former senior...