RIGHT START SPINOFF TO GO PUBLIC.Byline: Jason Z. Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. Staff Writer WESTLAKE VILLAGE - Children's retailer The Right Start Inc. plans to take its online retailing division public. Jerry Welch, the company's chief executive officer and also president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of the spinoff Spinoff A new, independent company created through selling or distributing new shares for an existing part of another company. Notes: Spinoffs may be done through a rights offering. company, said the plans call for taking RightStart.com public by the end of March. Proceeds from the offering will be used primarily for advertising and marketing. ``We're promoting our brand on the Internet. We wanted to take RightStart.com public so we could fund that marketing plan,'' Welch said. The division was formed in April when The Right Start initiated its online sales operation and moved its catalog catalog, descriptive list, on cards or in a book, of the contents of a library. Assurbanipal's library at Nineveh was cataloged on shelves of slate. The first known subject catalog was compiled by Callimachus at the Alexandrian Library in the 3d cent. B.C. sales under the same umbrella. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the company's prospectus, filed Wednesday with the U.S. Securities and Exchange Commission, the division posted a net loss of $7.95 million on net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of $5.96 million in the three months ended Jan. 1. The company estimated the sale of stock will generate as much as $69 million for marketing costs, including a national television advertising campaign launched in October. The Web site, launched in June, took less than 90 days to reach $1 million in sales. The company hit that milestone without any television advertising, only in-store signs and mailers to store customers. The Right Start Inc. officials issued a joint statement saying they plan to sell some of the equity in the new company to finance its expansion. Welch has said he wants to build 30 to 40 new stores per year for the next few years. |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion