BIZWATCH : MARKETS.LOOKING GOOD:Gap Stores Inc. rose 1 to 27-1/4. The fashion retailing chain said its same-store sales Same-store sales is a business term which refers to the revenue generated by one of a retail chain's specific outlets during a certain period of time (often a fiscal quarter or a particular shopping season), compared to an identical period in the past, usually in the previous year. rose 13 percent in March, while total business was up 32 percent. The stock split 2-for-1 Thursday. MEMO YIPPEE yip·pee interj. Informal Used to express joy or elation. yippee interj an exclamation of joy, pleasure, or anticipation YAHOO:Investors' infatuation with Internet stocks will be tested again today when Yahoo! Inc. makes its initial public offering at $13 a share. Underwriters led by Goldman, Sachs & Co. priced the shares Thursday higher than their original expectations of $10 to $12 each in anticipation of very strong investor interest. MATTEL LAUNCHES PROBE: Mattel Inc. has hired a former top securities regulator to look into allegations that the big toy maker inflated earnings with improper accounting, Mattel Chairman John W. Amerman said Thursday. The allegations were raised in a wrongful termination wrongful termination n. a right of an employee to sue his/her employer for damages (loss of wage and "fringe" benefits, and, if against "public policy," for punitive damages). lawsuit filed by Michelle Greenwald, who once headed Mattel's Disney infant and preschool operations. DUMB IDEA?: Although 70 percent of the Swindon, England, merchants are on line and 10,000 people have received the ``Mondex'' cards issued by National Westminster and Midland Bank Midland Bank was one of the Big Four banking groups in the United Kingdom. It is now part of HSBC. The bank was founded as the Birmingham and Midland Bank in Union Street, Birmingham, England in August 1836. , the experiment seems to be off to less than a roaring start. Jason Stalker, a clerk at the Mondex Centre, holds up the ``smart card,'' an electronic form of cash stored on a computer chip. ``I think they're a bit pointless,'' said shopper Stacy Chidwick. HANDS OFF: Eli Lilly & Co. has filed a patent infringement patent infringement n. the manufacture and/or use of an invention or improvement for which someone else owns a patent issued by the government, without obtaining permission of the owner of the patent by contract, license or waiver. lawsuit against a generic drug generic drug, a drug sold or prescribed under the nonproprietary name of its active ingredients or under a generally descriptive name rather than under a brand or trade name. manufacturer that wants to market a cheaper version of the top-selling antidepressant antidepressant, any of a wide range of drugs used to treat psychic depression. They are given to elevate mood, counter suicidal thoughts, and increase the effectiveness of psychotherapy. Prozac. MONEY MATTERS SPRING SHOPPING SPREE: Like tulips, retail sales seem to pop up in the spring. The Goldman Sachs Retail Composite Index Composite Index A grouping of equities, indexes or other factors combined in a standardized way, providing a useful statistical measure of overall market or sector performance over time. Also known simply as a "composite". , a measure of overall sales performance at major retailers, rose 4.23 percent last month, in contrast to a 0.28 percent drop in March 1995. PIERONI REMEMBERED: Leonard J. Pieroni, former chairman and chief executive officer of The Parsons Corp., was honored by more than 2,000 family members, friends and employees at a memorial ceremony Thursday at Parsons' world headquarters in Pasadena. Pieroni was a member of Secretary of Commerce Ron Brown's delegation who died on the ill-fated flight that went down in Croatia on April 3. CAPTION(S): 2 Charts Chart: (1--Color) BIZ FACTS COMPETING ON-LINE Number ofsubscribers to the top on-line service companies, as of March 1996 Knight-Ridder Tribune Graphics Network (2--Color) DOW INDUSTRIALS |
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