Bloomberg Anywhere Remote Login Bloomberg Terminal Request a Demo

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Businessweek Archives

It's Splitsville At Melville


In Business This Week

IT'S SPLITSVILLE AT MELVILLE

AN INVESTOR FAVORITE IT'S NOT: Melville, its shares down 35% in three years, has become a regular target of angry shareholder groups. On Oct. 24, the retailing giant finally opted to appease Wall Street by taking itself apart at the seams. Melville, which a week earlier said it would sell its Marshalls chain to rival TJX, will split into three separate companies. One, headed by Melville Chief Executive Stanley Goldstein, will consist of its CVS and Linens 'n Things chains; two other spin-offs, set to be complete by the end of 1996, will center around its Thom McAnn shoe business and Kay-Bee toy shops. Investors were none too impressed, sending Melville shares down 7%.EDITED BY KEITH H. HAMMONDS


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus