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In 1999, Fruit of the Loom filed for Chapter 11 bankruptcy protection, shortly after posting a net loss of $576.2 million. [14] Its 66 million shares of outstanding common stock dropped in value from about $44 per share in early 1997 to just more than $1 by spring 2000. Reasons for the bankruptcy are varied.
For 15 years (1985–99), he was the chairman and CEO of Fruit of the Loom until he was ousted by the board of directors on August 30, 1999. He is currently the founder, CEO and majority owner of Zrii, a multilevel marketing company based in Salt Lake City .
A division of Fruit of the Loom: Scott Fetzer Company: Other 100% 1985 $230 Million [13] See's Candies: Food and Beverage 100% 1972/01/03 $25 Million [77] [78] SE Homes Materials and Construction 100% 2007 Shaw Industries: Materials and Construction 2002/01/21 [79] Star Furniture: Furniture Related 100% 1997/07/14 TTI, Inc. Electronic Component ...
By 2019, the most recent year with revenue unaffected by the pandemic, the company reported net earnings of more than $21 billion, or $49,828 per share. This means that profits increased almost ...
The company sold its 'Vanity Fair Intimates' lingerie business to Fruit of the Loom for US$350 million in cash on January 23, 2007. [11] Later that month, VF acquired Eagle Creek. Also in 2007, VF acquired Majestic Athletic on February 28, followed by a $885-million purchase of 7 for all Mankind and Lucy Activewear on July 26. [12]
Fruit of the Loom also acquired Brooks Sports in 2006. ... These stakes were worth a total of over $6 billion as of August 2020. ... Net income in million US$
Net income. US$−320 million (2024) Total assets: US$3.84 billion ... Fruit of the Loom; Jockey International; References Further reading. Augstums, Ieva (2006-12-26
Vinay Hiremath, a cofounder of Loom, just wrote about finding purpose after selling the company. The software company Atlassian acquired Loom for $975 million in the fall of 2023.