Thursday, March 28, 2002

Tristate Summary

Greeting-card maker pares loss

        Cleveland-based American Greetings Corp. Wednesday reported a narrower loss for the last three months of its fiscal year than a year ago and said it expects improvement this year. Its stock surged more than 28 percent to $18.59 a share.

        The company lost $13.1 million, or 20 cents per share, in the quarter ended Feb. 28 in contrast to a loss of $127.7 million, or $2.01 per share, a year earlier. American bought Gibson Greetings two years ago.

        Before charges, earnings from operations were 58 cents a share in the latest quarter. That was 2 cents a share more than the consensus forecast of analysts surveyed by Thomson Financial/First Call.

        Sales in the quarter slipped to $656.3 million from $663.2 in the year-ago quarter.

Birkenstock opens store here

        Birkenstock is now at Rookwood Pavilion in Norwood.

        The German footwear company has opened its first store in Greater Cincinnati. The store offers cork-bottomed sandals and shoes, plus dress shoes, hiking boots, children's shoes, accessories and specialty footwear for the medical profession.

Honda's Element hits market in Dec.

        A new Honda to be made at the company's East Liberty, Ohio, plant will be called the Element and will go on sale in December, the automaker said Wednesday.

        The Element combines features of a pickup truck and sport-utility vehicle and will cost between $16,000 and $21,000.

— From staff and wire reports


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