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The company's products had the reputation of being "slightly
naughty" but not offensive, and this style proved to be highly
successful in the 1960's and 1970's.
By the early 1980's, however, the risque look of FOH's
products began losing appeal. These trends caught FOH off guard,
and the company's operations began to falter. At the same time,
Mr. Mellinger developed Alzheimer's disease. He retired in 1984
with FOH's profits dwindling. Under new management, FOH enacted
a plan to turn the company around. The company's catalogs were
purged of nudity, and the black and white pictures were replaced
with color photographs of models. On the retail store side, a
major overhaul was also enacted. The company spent heavily to
upgrade store ambience and to improve the merchandise mix.
All of these steps successfully repositioned FOH as a
specialty retailer of intimate apparel. The company operates 206
specialty boutiques in 39 States with the highest concentration
of stores in California. FOH developed a mail-order subsidiary
to engage in extensive operations in all 50 States, with catalogs
published 11 times a year.
For convenience, the following chart shows the net sales,
net earnings, earnings per share, total assets, and equity of FOH
for the fiscal years ended September 1, 1990; August 31, 1991;
August 29, 1992; and August 28, 1993.
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