| Ticker: LOEH | 2500 Halsey Street | |
| Exchange: NASDAQ-National Market | Bronx, New York 10461 | |
| Industry: Retail | (718) 409-2000 |
| Type of Shares: | Common Shares | Filing Date: | 9/19/95 | |
| U.S. Shares: | 3,572,000 | Offer Date: | 5/7/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $13.00 - $15.00 | |
| Primary Shares: | 3,572,000 | Offer Price: | $17.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.19 | |
| Offering Amount: | $50,008,000 | Selling: | $0.66 | |
| Expenses: | $748,000 | Reallowance: | $0.10 | |
| Shares Out After: | 8,297,420 |
| Manager | Tier | Phone |
| Montgomery Securities | Lead Manager | 4156272220 |
| Robertson, Stephens & Company | Co-manager | (415) 989-8500 |
| Salomon Brothers Inc. | Co-manager | (212) 783-2947 |
| Auditor: Ernst & Young | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 2/3/96 | 2/3/96 | ||||
| Revenue: | $386.09 | Assets: | $163.61 | ||
| Net Income: | -$17.02 | Liabilities: | $177.41 | ||
| EPS: | -$3.12 | Equity: | -$13.80 | ||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company, founded in 1921 as the "Original Designer Outlet," is a leading specialty retailer of well known designer and brand name women's fashion apparel. The company also offer accessories and shoes at prices that are typically 25% to 50% below department store prices. The company believes it has developed a unique franchise as the largest national upscale off-price specialty retailer-one that differentiates itself from finer department stores by offering similar merchandise at significantly lower prices, and from other off-price apparel retailers by offering a broad range of designer and bridge merchandise. The Company currently operates 7 major metropolitan markets located in 23 states. The Company is embarking on an expansion strategy to capitalize on the strength of its franchise and well-recognized name. |
| Use of Proceeds |
| Proceeds from the offering will be used to refinance substantially all of the company's existing indebtedness and to redeem all outstanding preferred stock of the company. |
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