HYDE PARK, Mass. (BUSINESS WIRE) Oct. 16, 2000 Maxwell Shoe Company Inc., (Nasdaq: MAXS), today announced it has signed an Asset Purchase Agreement to acquire a substantial portion of the assets of joan and david helpern, incorporated and JOAN HELPERN DESIGNS, INC. for an aggregate $16.8 million in cash. joan and david helpern, incorporated, a women's designer footwear and apparel marketer, filed for Chapter 11 voluntary bankruptcy protection in March 2000. The Asset Purchase Agreement was approved by the United States Bankruptcy Court on October 13, 2000 and is subject to other customary closing conditions. The transaction is currently expected to be completed shortly. According to the terms of the Agreement, Maxwell Shoe Company will acquire a substantial portion of joan and david helpern, incorporated's assets, including certain inventory, the on order merchandise, leases for the corporate office, as well as all the trademarks of JOAN HELPERN DESIGNS, INC. Mark J. Cocozza, Chairman and Chief Executive Officer of Maxwell Shoe Company, commented, "We are pleased to announce the Joan David brand will be included as part of the portfolio of footwear brands offered by the Maxwell Shoe Company. The Joan David brand is a prominent brand, held in high esteem amongst retailers and consumers." Mr. Cocozza concluded, "This is a meaningful strategic addition for Maxwell Shoe Company. Joan David is a designer line which broadens Maxwell Shoe Company's presence in the upscale market and complements our existing brands." Maxwell Shoe Company Inc. designs, develops and markets casual and dress footwear for women and children. The Company's brands include Mootsies Tootsies, Sam Libby, Dockers(R) Footwear for Women, A LINE ANNE KLEIN(TM), ANNE KLEIN2(R) and J. G. Hook. Certain statements contained in this press release regard matters that are not historical facts and are forward looking statements (as such term is defined in the rules promulgated pursuant to the Securities Act of 1933, as amended). Because such forward looking statements contain risks and uncertainties, actual results may differ materially from those expressed in or implied by such forward looking statements. Factors that could cause actual results to differ materially include, but are not limited to: the uncertainty associated with closing any transaction including the Joan and David transaction, changing consumer preference, inability to successfully design, develop or market its footwear brands, competition from other footwear manufacturers or retailers, loss of key employees, general economic conditions and adverse factors impacting the retail footwear industry, and the inability by the Company to source its products due to political or economic factors or the imposition of trade or duty restrictions. The Company undertakes no obligation to release publicly the results of any revisions to these forward looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors are also directed to other risks discussed in documents filed by the Company with the Securities and Exchange Commission. Air Jordan 11 Low Concord ,Air Jordan 6 Infrared 2014 Air Jordan 3 Infrared 23 Air Jordan 10 Charlotte Bobcats Air Jordan 3 Powder Blue Air Jordan 10 Cool Grey Air Jordan 3 Infrared 23 Air Jordan 10 Charlotte Bobcats Air Jordan 10 Powder Blue 2014 Air Jordan 6 Infrared 2014 This course places equal emphasis on mastering practical skills and developing your academic potential. It builds on the success of the previous BA in Public Relations, to which we have now added Advertising as part of a constant process of updating the course and making it relevant to contemporary needs. You will receive intensive professional training provided by active practitioners, and will analyse the role PR and advertising play in society and their relationship to the media. You will also be able to develop a critical understanding of the media industries, their products and their audiences. The University's research interest in the media means you study broader issues relating to the media alongside students of journalism, TV and radio. is required to obtain your degree and given London's leading position in the world of PR and advertising, it is readily available. The course is a particularly international one, bringing together students from the UK and across the world. We have very strong links with the PR and advertising industries, inviting in a range of guest speakers, and organising events and visits. Our students have a high success rate in gaining employment in related sectors in the UK and internationally; many also pursue postgraduate studies. You will learn how to analyse media output and examine the relationships between media, society, politics, culture and technology; you can also choose from a wide range of optional modules. The lecturers are among the top names in their field, and are regularly supplemented by current practitioners. There are no exams (other than in some optional modules), and all practical work is assessed on output such as individual and group activity, including written work and oral participation and presentations. All analysis work is assessed on essays, and other written work and performance in seminars. You are introduced to key public relations and advertising skills from writing press releases and dealing with journalists to responding to advertising briefs as well as academic approaches to the subject. You are also introduced to campaigning. You will take media theory modules in the first year, which introduce you to the frameworks in which the media operate and some of the major theoretical tools for analysing them. They consider the place of the media in society, politics, arts and culture. You will study online PR and advertising, and campaigning in more depth. You will also study how law and ethics relate to PR and advertising. At the same time you will take a range of media theory modules, some compulsory, some optional. Subjects include news and public opinion; creativity; sex, violence and censorship; audience studies; and many aspects of journalism. You will produce a major final PR and advertising project and study current issues in PR and advertising. Past projects have appeared in print, broadcast and online media around the world. You will study strategic communications and another optional module, with subjects including celebrity culture and the media; media around the globe; multiculturalism and the media; and aspects of journalism. You will also produce an academic dissertation, a substantial original piece of work on a media/PR/advertising related subject. You will be encouraged to undertake as many work experience placements as possible. There is also a compulsory work experience element to the degree, to be done between the end of Year 2 and the end of Year 3, or in the intervening vacations. You will need to find your own placements, and write reports on your work. You can take advantage of our Study Abroad agreements with overseas universities, spending half an academic year at another university. Past students have studied in Australia, the USA and Hong Kong. Your work there will count towards your degree at Westminster. The number of digital roles including creating written and visual input is increasing significantly. As part of the core Final PR Project module in the third year of the course, students are encouraged to seek work experience in the industry. This lasts for at least two weeks but is usually longer. It also often leads to offers of full time employment after graduation. Students typically do this component of their course in Public Relations Agencies in London. Examples of work experience in recent years include: Media relations for clients Press release writing for products, people and projectsMedia event organising including press conferences Social media engagementUpdating blogs and websites Writing, editing, texting, tweeting and sharing imagesCreating headlines, messages, angles and ideasOne PR graduate sums it up Do We Do? as: We harness online, print, broadcast and social media to create high profile campaigns; our captivating stories and outlandish stunts to get first class coverage, plus higher profiles, better sales, bigger audiences. seventy percent of PR professionals are employed within private, public and voluntary sector organisations as distinct from agencies and consultancies and are known as in house public relations advisors. Many of Westminster University PR graduates are now employed by these companies and organisations and seek our students for work experience. Air Jordan 11 Low Concord,IntroductionFoot Locker (NYSE:FL) is a global athletic shoe and clothing retailer, located in malls and stand alone stores across the USA, Canada and Europe. FL is best known for their variety of athletic shoes and sports apparel. The company offers men's and women's basketball, running and training shoes, and their business model is fairly straightforward as a footwear and sporting goods retailer. From a quantitative prospective, FL shares trade at about 14x trailing EPS and more importantly 10x forward EPS, a discount to the retail and footwear industry. Our report will show that FL shares should move toward our price target due to fundamental reason, such as consumer spending, valuation, performance metrics, online threats and revenue from mall trends. Based on proprietary discounted cash flow analysis done by The Oxen Group, FL shares are reiterated as a HOLD, with an implied price appreciation of 9%. ProfileAccording to FL's latest 10k, the company was founded in 1974 and is primarily in the business of selling shoes and athletic accessories around the world, targeting both genders, but mostly men. The company is approximately worth $5B. From a macro prospective, the company is organized in two segments, direct to consumer and retail. Retail is further broken down into the various stores Foot Locker, Lady Foot Locker, Kids Footlocker, Foot Locker International, and Champs Sports. In terms of selling square footage, the largest and most material stores include Foot Locker USA, International, and Champs Sports. ThesisValuation FL trades at a severe discount to apparel companies in the consumer cyclical space, while overall valuation in the apparel industry is much higher than the footwear industry. Foot Locker is interesting because the company can be viewed as a hybrid between footwear and retail. While the firm isn't in the business of making shoes, it does correlate to footwear more than retail. During October 2012 to January 2013, FL (over a 21 day period) had a solid and steady correlation coefficient of above 0.9 with footwear, while over the same period had a correlation coefficient ranging from 0.85 to .35. The take away from this little exercise is that FL trades with the footwear sector and not necessarily in the retail sector (where Wall Street places them). The average forward multiple in footwear is roughly 14.8x and the median is about 13.9x. FL, at 12.6x forward, trades below its industry average and median forward multiple. For good measure, the average forward multiple in retail is 19x. This is a slight discount. In net margins, FL underperforms footwear. 58% of its footwear competition has higher net margins than it. Additionally, FL is below average net margins of 10.2%. FL's management, however, outperforms the competition. The firm's ROE is better than 68% of retail and better than half the footwear industry at 17%. Wall Street is expecting ROIC to grow 700 bps by 2014. Catalyst Economic catalysts may move FL. Retail sales trends provide a macro view on the consumer. Retail sales measure the total amount of receipts at stores that sell merchandise and related services to final consumers. This takes into account retail locations and food service. The latest data on this indicator showed that Retail sales in January grew at a mere 0.1% and for prospective in December gained 0.5%. January slowed as a result of the government increasing taxes during a fragile economic recovery and higher gas prices. are also touched on in the variant section. While these numbers are backward looking, these trends could move FL from a macro prospective down. We see little catalyst to shares with Americans cash strapped, European economies weak and the company lacking a strong presence in developing markets. Economic Moat Foot Locker's economic moat is rather shallow. FL discloses in SEC filings that they are in an industry and sector with low barriers to entry. While FL has a jump start on branding and locations, the threat still exists. FL is mainly up against, "athletic footwear specialty stores, sporting goods stores and superstores, department stores, discount stores, traditional shoe stores, and mass merchandisers, many of which are units of national or regional chains that have significant financial and marketing resources." (FL's SEC filing.) Young males ages 12 25 are FL's target, this demographic is subject to quick changes in tastes and presents a risk to FL if stores are not prepared if inventory is not properly managed. Revenue and EPS Outlook FL's Internet presence has been slowly growing since 2009 as a percent of total sales, direct to customers has gone from 8.3% in 2009 and up to 9.1% of sales in 2011. Year over year Internet sales during the period of 09/10 10/11 had an average growth of 12%. Projecting this average growth rate out to 2016, consumer direct (Internet) may become roughly 13% of sales, much larger than now. A robust Internet presence is vital for the future, especially as many other retail operations are being squeezed by the likes of AMZN and bricks and mortar stores come into question. Yet, even with this trend, we do not see it strong enough to drastically increase our price target. Further, FL does not have enough original merchandise. The company buys approximately 82 percent of its merchandise from its top five vendors and expects to continue to obtain a significant percentage of its athletic product from these vendors in future periods. While acting as a middleman does hurt its margins, the company has performed well in the mall space, outperforming peers. According to Integra Retail's information database, the average sales PSF (per square foot) of a US mall is roughly $360 or according to BizStats $391. FL outperforms the average here. The company clocked in at $406 on average in 2011, comfortably above average. So while upside is questionable, downside risk seems limited as well. The average US mall sales PSF are $514 for men's shoes and $397 for women's shoes. Now, FL is underperforming its competition, for men's sales PSF are more material, accounting wise. The sales PSF, however, has been trending up. Since 2007 sales PSF have been on average up 3.8%. Price Target AnalysisThe following price target was configured through a 5 year projected discounted cash flow analysis. The model projects operating income, taxes, depreciation, capital expenditures and changes in working capital. Using that information, we can project what the company is worth. We can then use that projection and compare it to current prices. Calculate cash flow available by taking operating income taxes + depreciation capital expenditures working capital.
Order Online Authentic Air Jordan 11 Low Concord,Air Jordan 11 Low Concord Kate Collins BDN Conor Kenny of Bangor (left) models a Mossimo Supply Co. button up shirt $6; Gap jeans, $14.50; DC Shoes, $35 at Retro Soul Metropolitan Soul; and a MAD T shirt, $7.50. Emma Moore (right) models an American Eagle striped T shirt, $7.50; American Rag jeans, $15; light pink scarf, $12 and a copper cuff, $8. Style has always been about mixing the old with the new, bringing back old fashions and giving them a modern twist. Recently, we've seen the resurrection of '80s spandex, '70s tie dye and floral and '60s sequins. It's back to school shopping season, and with all the style synthesis going on, you can't go wrong. While the top fashion designers have their own way to mix decades of style, shoppers can also take it into their own hands. What better place to meld modern with vintage than at your local thrift and consignment shops? And you will certainly save some money in the process. Bangorite Cara Oleksyk, 27, began shopping for secondhand clothing in middle school to unearth humorous graphic T shirts (inspired by a T shirt her father gave her that read "Disco Sucks" under the image of a disco ball). Then she started to snag ripped Levi's and worn Dickies. "I got a taste of the hunt," Oleksyk said. Growing up in a family of eight children on a farm in Frankfort, Oleksyk learned quickly to find deals at the local Salvation Army, and for back to school shopping, it was crucial for her to get the most bang for her buck. Oleksyk also felt a need to express her individuality in such a large family. Thrift shopping helped her find clothing that no one else would be wearing at school. Her style helped her stand out. At first, her fashion sense was that of a "tomboy" teen, but over the years, she developed an eye for feminine vintage, inspired by a collection of her great grandmother's jewelry passed on to her in high school. Growing up in the country, Oleksyk harbors a deep rooted love for her environment. So she enjoys reminding people that shopping for preworn clothing is eco friendly. Instead of demanding new raw materials be made into clothing, you're recycling old materials, giving them a longer lifespan than the few years it took for the previous owner to tire of them. "We have a lot of waste in this world," she said. "I found a pea coat on the side of the road the other day. I dry cleaned it and it turned out to be a beautiful vintage coat." Oleksyk now knows the local cobblers and tailors, who have helped her resole designer heels and repair vintage clothing that she now treasures. Two years ago, she opened her own vintage shop in the back of Metropolitan Soul in Bangor, which opened a new store in Orono just last week. She calls her collection Retro Soul, and specializes in clothing, shoes and accessories from the last four decades. Usually replenishing her collection by searching through thrift stores outside the Bangor area, she chooses what she likes dresses with bright patterns, combat boots, leopard print knee high boots, colorful scarves, a Levi's jean jacket with plaid lining, an old Nike sweatshirt and she advises back to school shoppers, or any shopper, to do the same. Create your own style by wearing things that appeal to you. "You can evolve a trend to fit your own fashion sense," she said. "Not everyone can pull off a high waist skirt. Buy clothes that fit your personality or body type." When searching for thrift and consignment stores in your area, keep in mind that many stores donate profits to local foundations and organizations. Hands of Hope thrift store at 700 Hogan Road in Bangor helps fund their nonprofit organization that reaches out to the community through volunteerism. Similarly, Goodwill stores throughout Maine, New Hampshire and Vermont help fund programs that help people achieve economic and social independence. The First United Methodist Church Thrift Store at 55 North Third St. in Bangor funds the ministries and missions of the church, and Attic thrift store at 170 Center St. in Bangor is run by volunteers and all the profits go to All Saints Catholic School. You can either donate your old clothing to local thrift stores or sell it to consignment stores such as The Growing Place, which has two locations in Bangor, and American Retro at 40 Main St. in downtown Bangor. Tips for shopping consignment and thrift stores: 1. If you really like it, you can fix it. Patch jeans. Learn how to stitch a seam and add buttons. Try freshening up a pair of shoes with new laces. 2. Put aside some time to shop. Often, the majority of clothing in a thrift shop won't appeal to you. The fun is in finding that one item that will make an outfit special. While thrift shops are usually fairly well organized, try breaking your shopping into categories: pants, shirts, coats, accessories, shoes, skirts and dresses. 3. Look at stitching under the armpits and along the seam. Make sure it's strong and not coming undone. Also, look for stains, especially under the armpits. Does it have all the buttons? Only for clothes you really like should you ignore defects, and then try to talk the price down. 4. The quality of the material is one of the most important aspects of secondhand clothing. "You can run your hand through a rack and feel a good piece," said Oleksyk. 5. Accessories are important. No accessory should go to waste. Ever lose one of two earrings? Oleksyk takes her unmatched earrings and fashions them into charm bracelets. She suggests scarves for men and women, and clip on earrings, which she attaches to purses and shoes. Usually, you can string a broach onto a chain and it becomes a pendant. 6. Don't overdo it: "Buy new and thrift in moderation," said Oleksyk. "You don't want to overload it. Ask yourself, 'Does this go with other outfits? Would I wear this in the next couple of weeks?'" 7. Buy clothing that you can layer: In Maine, school starts at the turn of a season, and clothing that people have been wearing for months become uncomfortable in the cold. Back to school shopping isn't just a fun event; for growing children and teens, shopping is a necessity. Last winter's clothes simply don't fit. "People in Maine have more clothes than people in Florida," said Oleksyk. "We can cut down on that by layering." Some items will stretch your summer clothing into the winter: Tights, leg warmers and funky socks can help you wear open toed shoes and short skirts further into the cold season. Long sleeve undershirts, vests and cardigans can allow you to keep your summer tank tops and T shirts a part of your ensemble for the fall and winter. 'We're being abused': Golf course company owes Orono, 4 other towns overdue taxes, protests high billsTwo found dead in Biddeford motel roomPolice say deaths of two at Biddeford motel not homicide my family did was wrong York cop explains rough pastLiberal group presses investigation, firing of conservative think tank staffer for secretly recording strategy call Air Jordan 11 Low Concord Your bandage should be worn for 1 to 2 hours. horoughly wash your hands and dry them with a paper towel before removing the bandage. If you find that the bandage is stuck to your tattoo, try running the bandage under water. You DO NOT however, want to soak your fresh tattoo in ANY water to include but not limited to bathtubs, swimming pools, hot tubs, lakes, and ponds. These all have chemicals, dirt, and all kinds of nasties that can cause infection. Showers are fine just NO SOAKING!nbsp; Using a mild, fragrance free soap (Dove, Dial, and Neutrogena); gently wash all excess blood, ointment, ink, and plasma from your tattoo. Only use your hand DO NOT use a washcloth or loofah as they can harbor bacteria. If you are not sure which soap to use, read the ingredients. If alcohol is listed as one of the first few ingredients, DO NOT USE IT. Soap with fragrance and alcohol will burn and can over dry the skin. After washing the tattoo, pat it dry with a paper towel. DO NOT use a hand or bath towel. Towels can harbor bacteria. DO NOT re bandage your tattoo. It needs to and get air to heal properly. Wash your tattoo once or twice a day for the duration of the healing time. Too much washing can wash away your body natural bacteria which helps your skin to heal. Washing the tattoo in the morning and at night before you go to bed is sufficient. For the first day, the tattoo will clear plasma. This is completely normal. There is NO NEED to use any ointment on your tattoo. Most ointments are for fighting infection and are contributing to antibiotic resistance. Additionally, ointments can the tattoo by not letting enough air get to it which can cause excessive scabbing. Ointments also lead to higher rates of dermatitis in tattoos. Before going to bed, wash your hands and wash your tattoo. Sleep in something old (yet clean) to cover the area that was tattooed. Most tattoos will ooze clear plasma the first night and this can stain and stick to clothing and sheets. By the second or third day, your tattoo will start to dry out. It will start to flake like a sun burn. You will see large black and colored flakes coming off, especially in the shower. This is completely normal. DO NOT under any circumstances, pick or these flakes come off. Doing so will result in the loss of line and color in your tattoo as well as cause scarring. And YES, we can tell when someone has picked at their tattoo! In addition, DO NOT wear tight clothing that may rub the tattoo. When your tattoo starts to flake and peel, you may then start using 1or 2 drops of fragrance free hand lotion. Lubriderm, Keri, and Curel are all good choices. Rub the lotion in completely or blot excess off with a paper towel. If you unsure if the lotion you have at home will work, read the label. If alcohol is near the top of the list of ingredients, then DO NOT USE IT. You may also do a spot test if you are unsure. Rub just a small drop into a small section of the tattoo. If it starts to burn or sting in a couple of minutes, then wash it off immediately and discontinue using it. Continue to use the above steps until your tattoo is completely healed. Healing time varies with each individual and the area that was tattooed. Generally, tattoos are fully healed in two to three weeks. During the healing process, DO NOT use anything on your tattoo that you wouldn use on any other wound or abrasion. This includes oils, glitter, sun block, etc. If you have special circumstances that require you to alter our advised healing method, please ask the artist or staff. An example would be someone that works in an industry where their fresh tattoo might be exposed to dirt, germs, etc. This will prevent any fading or color loss. This means for the rest of your life! We find that the highest rating is the best and apply liberally throughout your sun exposure time. Try using the new sun block sticks that attach to key chains to help you remember. They also make it easy to apply sun block to only the tattoo while you are tanning. DO wear something old (yet clean) to bed the first night. Most tattoos will and seep clear plasma and excess ink for the first day and night. This is normal but can stain sheets and clothes. Your fresh tattoo should be considered an open wound. NEVER EVER touch your tattoo with dirty hands, fingernails, clothing, shoes, etc. This is the NUMBER 1 reason why infections occur. NEVER let anyone else touch your fresh tattoo either. USE COMMON SENSE! Swelling and bruising of the area around the tattoo is common. Some people bruise easily, some do not. In addition, certain areas are more prone to bruising and swelling. Lower extremity tattoos (ankles, feet, calves) are more prone to swelling if you have to be on your feet for prolonged periods. Ibuprofen and elevating the affected area can help. Tattoos on the foot and wrist: Tattoos on the feet and wrist are notoriously hard to heal. These areas also have a higher chance of becoming infected because of exposure to germs and bacteria due to door knobs, keyboards, computer mice, dirty shoes, carpet, etc. It is EXTREMELY important to keep these areas clean and to NEVER touch your tattoo with dirty hands. It is advisable to buy a new pair of cheap shoes that can be easily cleaned in the washing machine after you get your foot tattooed. Wash the shoes in the washing machine before wearing them. Make sure they are loose fitting and all socks should be smooth and free on the inside. Above all, if you have ANY questions or concerns, please do not hesitate to call us or stop by. That what we are here for! We know what looks normal and what does not and we assist you in any way that we can. We put a lot of hard work into your new tattoo and care about it just as much as you do.
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