Investors cool to Deckers: Shoemaker’s shares stumble on lower Ugg prices
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Read More →Dole sells canned food business to Itochu for $1.7B
Produce giant Dole Food Co. sold its worldwide canned food business to Japanese conglomerate Itochu Corp. on Tuesday, fetching $1.7 billion and marking the Westlake Village-based firm’s exit from Asia. Proceeds from the all-cash sale, the biggest in Dole history, will be used to pay down debt, Dole said. Tokyo-based Itochu now has exclusive rights Read More →
Read More →Dole nears deal with Itochu
Westlake Village-based Dole Food Co. is closing in on a deal to sell its processed food business and Asian fresh fruit and vegetable businesses to a Japanese trading house. In an unusual move, Dole confirmed market rumors on Sept. 12 that it is in “advanced negotiations” with Itochu Corp. to sell the business units. Reuters Read More →
Read More →Qualstar cuts jobs amid $4.1M loss
Simi Valley-based Qualstar, a maker of tape-based hard-drive backups and power supplies, has laid off 13 percent of its workforce. The company said the employees were related to unprofitable technologies that it is phasing out, and the move is expected to save the company about $480,00 a year. The announcement came days after Qualstar said Read More →
Read More →K-Swiss profits fall as sales down 32%
Athletic shoemaker K-Swiss stumbled into another large loss in the second quarter as its worldwide sales plummeted by almost one-third. The Westlake Village-based company reported an $11.6 million loss, compared to a loss of $20 million in the same quarter a year earlier. Worldwide revenue fell 31.5 percent to $44.8 million during the quarter. U.S. Read More →
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