Word: genesco
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Making Genesco airworthy again required a sharp reversal of the relentless acquisition policy pursued by the elder Jarman, who bought up companies large and small. Some of the acquisitions -most notably the S.H. Kress chain, bought for $65 million in 1963, and a bevy of foreign textile and clothing makers-turned out to be clunkers. By early 1973 the situation had become so serious that Frank. Jarman staged a palace revolt...
...Instead, Genesco has made a strong comeback. Through the first nine months of the fiscal year ending June 30, the company racked up profits of $14.9 million. Sales were up 3%, to $864 million. In February Genesco was able to market a $70 million bond issue that will enable it to get past the November deadline for repaying much of its long-term debt. Says Jarman, 44, a former naval reserve pilot and hot-air balloon enthusiast who salts his conversation with aviation lingo: "We're committed to takeoff...
Flying Divots. He forced through the company's board a reorganization plan that named him Genesco's first chief executive officer. A year later, Maxey Jarman retired from the board; although he visited the Genesco headquarters almost daily to chat with friends, he and his son hardly spoke. Meanwhile, Frank shut down 177 marginal Kress stores, sold such subsidiaries as San Remo men's suits and I. Miller women's shoes, slashed more than 10,000 employees from the payroll and installed a new management team. "There were a lot of people around here who didn...
Jarman keeps minutely detailed figures that allow him to know instantly what sales have been at the Bonwit Teller cosmetics counter or which of Genesco's 85 subsidiaries can best make use of a new infusion of capital. Genesco is also embarking on a store-opening program for its profitable Johnston and Murphy and Jarman shoes...
Franklin Jarman remains unsatisfied: he is anxious to resume dividend payments. But one Genesco stockholder who seems pleased by developments is none other than Maxey Jarman. Not long ago, he sent his son a copy of a book on airplanes, inscribed with a kind personal note. In return, Frank Jarman sent him a copy of Futurologist Herman Kahn's optimistic book The Next 200 Years. Says Franklin Jarman: "Time heals everything." Profits help...