Group Makes Offer for Blair

Share this article:
A group that includes investment banking firm Loeb Partners Corp. offered to buy Blair Corp., the cataloger reported after the market closed Tuesday.


The offer is for $36 per share, or about $297 million. New York-based Loeb holds a 6.7 percent stake in Blair, Warren, PA.


Blair markets men's and women's apparel and home products through its Blair and Irvine Park catalogs and Web sites. A decade ago, Blair marketed almost entirely via multisheet direct mail packages, newspaper inserts and freestanding inserts.


The company's credit business traditionally was a significant source of revenue. Last month, Blair said it would sell its credit card business to Alliance Data Systems for $176.3 million.


Blair's sales have slumped recently, with net sales last year totaling $496.1 million compared with $581.9 million the previous year. For first-quarter 2005, net sales fell to $107.6 million from $128.6 million in the same period last year.


Last year, Blair said it would discontinue its 4-year-old Crossing Pointe women's apparel catalog.


Chantal Todé covers catalog and retail news and BTB marketing for DM News and DM News.com. To keep up with the latest developments in these areas, subscribe to our daily and weekly e-mail newsletters by visiting www.dmnews.com/newsletters
Share this article:
You must be a registered member of Direct Marketing News to post a comment.
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Multichannel Marketing

Wine.com Uncorks New Digital Marketing Opportunities

Wine.com Uncorks New Digital Marketing Opportunities

The online wine retailer's strategy incorporates different flavors and depths.

93% of Companies Are Ineffective at Cross-Channel Marketing

93% of Companies Are Ineffective at Cross-Channel Marketing ...

Companies point to a lack of resources as the most common reason for lackluster marketing integration, a study says.

Metal Mulisha Races Towards Customization

Metal Mulisha Races Towards Customization

The motocross apparel company boosts mobile and Web conversions through product recommendations and personalized search.

Copyright © 2014 Haymarket Media, Inc. All Rights Reserved
This material may not be published, broadcast, rewritten or redistributed in any form without prior authorization.
Your use of this website constitutes acceptance of Haymarket Media's Privacy Policy and Terms & Conditions.