L. A. Gear has lost a lot of its gloss. First, the sneaker company's much-hyped fashion line of Michael Jackson shoes bombed in the U. S. Then, in December, a guard for the Marquette University basketball team stumbled and fell to the floor in a nationally televised college game when his L. A. Gear sneakers fell apart.

Now for some real embarrassment. The onetime Wall Street darling says it will suffer a $4 million-to-$6 million fourth-quarter loss, down from an $11.6 million profit the year earlier. And Chairman Robert Greenberg has dropped his nonstop optimism, saying the company is "cautious in its outlook."

Before it's here, it's on the Bloomberg Terminal. LEARN MORE