VENATOR DONS GAME FACE, PLANS TO DIVEST HOLDINGS.Byline: Rachel Beck Rachel Beck is an American reporter for the Lebanon Express in Lebanon, Oregon. Born 5 April, 1982, she was raised in Sisters, Oregon. In 2000, she graduated from Sisters High School[1]. She graduated from Vassar College with the class of 2004. Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. Venator Group Inc. moved closer to becoming primarily a sporting goods Noun 1. sporting goods - sports equipment sold as a commodity commodity, trade good, good - articles of commerce sports equipment - equipment needed to participate in a particular sport retailer with its announcement Monday to sell or close eight of its noncore businesses, totaling more than 500 stores. The New York-based company, formerly known as Woolworth, also said that its president, Dale Hilpert, was named chief executive officer. He will replace Roger Farah, who will remain Venator's chairman. ``This is the latest step in the restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). of Venator,'' said John Shanley, an analyst at First Security Van Kasper. ``It's a smart move to get rid of those stores that don't have growth potential and have limited earnings capabilities.'' It's been a tough few years for Venator, which has attempted to boost profits by reducing costs and closing more than 4,000 stores - including all of its Woolworth five-and-dime and Kinney Shoe stores. Last year, Venator lost $113 million, or $1 a share, compared with a loss of $10 million, or 7 cents a share, the year before. Sales fell to $4.56 billion, from $4.6 billion. Its stock is trading at about $10, compared with more than $28 two years ago. Venator is now mostly a sporting goods company, with 6,000 stores, including the Foot Locker Foot Locker, Inc. (NYSE: FL) is a major American sportswear and footwear retailer, with its headquarters in New York City, and operating in approximately 20 countries worldwide. It is the successor corporation to the F.W. Woolworth Company (“Woolworth’s”). and Champs CHAMPS Capitol Hill Association of Merchants and Professionals CHAMPS CHemometrics Applied to Metabonomics Proteomics and SAR CHAMPS Cleanliness-Hospitality-Accuracy-Maintenance-Product-Service CHAMPS Characteristics of Hardware Assemblies & Mission-build Planning System Sports chains. It also operates the Northern Group of apparel stores and the accessories chain Afterthoughts. Venator said the businesses it will now exit include San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden Music Box, Randy River, Foot Locker Outlets, Colorado U.S., Team Edition, Going to the Game, Weekend Edition and some Burger King franchises. SHUTTING DOWN Venator Corp. is selling or closing the following chains, in addition to selling off some Burger King franchises it owns: - San Francisco Music Box - Randy River - Foot Locker Outlets - Colorado U.S. - Team Edition - Going to the Game - Weekend Edition CAPTION(S): Box BOX: SHUTTING DOWN (see text) |
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