| Business Summary | | Factory
Card
Outlet
Corp.
(FCO)
and
its
subsidiary,
Factory
Card
Outlet
of
America
Ltd.,
are
a
chain
of
company-owned
stores
offering
a
selection
of
greeting
cards,
giftwrap,
balloons,
everyday
and
seasonal
party
supplies
and
other
special
occasion
merchandise.
As
of
March
27,
2001,
the
Company
operated
175
stores
in
20
states.
The
Company's
stores
provide
a
value-oriented,
"one-stop"
shopping
destination
for
greeting
card,
party
supply
and
special
occasion
merchandise
for
all
major
holidays
and
celebratory
events,
including
birthdays,
graduations,
weddings,
baby
showers
and
other
family,
religious
and
special
occasions.
In
June
2001,
the
Company
announced
that
the
bankruptcy
court
approved
the
disclosure
statement
relating
to
its
amended
plan
of
reorganization.
The
Company
also
stated
that
it
anticipates
emerging
from
Chapter
11
by
mid-summer
2001.
It
is
currently
anticipated
that,
upon
emergence,
the
Company
will
merge
into
and
with
Factory
Card
Outlet
of
America,
Ltd. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Factory
Card
Outlet
Corp.
is
a
chain
of
company-owned
superstores
for
``one-stop''
shopping
destination
for
party
supplies,
greeting
cards,
gift
wrap,
balloons
and
other
special
occasion
merchandise.
For
the
13
weeks
ended
5/5/01,
revenues
increased
3%
to
$56.2
million.
Net
loss
decreased
14%
to
$2.4
million.
Revenues
reflect
the
better
flow
of
merchandise
to
the
stores.
Lower
losses
reflect
lower
reorganization
expenses. | More
from
Market Guide: Significant
Developments |
| Officers | | | FY1999 Pay | |
| William Freeman, 58 Acting
Chairman, Pres, CEO | $102K | Glen Franchi, 46 Exec.
VP, Treasurer | 240K | Gary Rada, 46 Exec.
VP and Gen. Merchandise Mang.. | 261K | James Constantine, 47 Sr.
VP, CFO | -- | Carol Travis, 49 VP
and Sec. | -- | Dollar amounts are as of 29-Jan-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|