Stories by Mediha
Restaurant supplier reaches out to consumers
Opening Jacmar’s warehouse to the public for curbside pickup is one of the ways President and CFO Jim Hliboki is trying to keep his company afloat during the pandemic.
Pittsburgh-based company buys rubber recycling firm
Pittsburgh-based Liberty Tire Recycling has acquired Lakin Tire, based in Santa Fe Springs.
But February increase still lags competitors
New-vehicle sales at American Honda Motor Co. Inc. totaled 120,006 cars and light trucks in February, a 4.2% increase compared to the same period last year.
Denim-maker’s market cap has plunged 50% since start of pandemic
Guess and other Los Angeles-area retailers are absorbing heavy blows and scrambling to adjust as a result of the pandemic.
Cargo flow continues amid precautions at LA, LB
While most businesses nationwide are temporarily closing or asking employees to work from home, thousands of workers in San Pedro Bay continue transferring containers off and on cargo ships.
Kellstrom joins Aero Precision
El Segundo-based Kellstrom Defense Aerospace Inc. has been sold to a Northern California-based competitor but will keep its ties to Los Angeles County.
LA, Long Beach seek efficiency and security
Threatened by a common adversary, the ports of L.A. and Long Beach have vowed to collaborate on several operational initiatives to preserve San Pedro Bay’s competitive edge.
Longtime apparel exec aims for women with larger sizes
Helena Kaylin’s proof of concept appears to be working ― less than a month after she launched Mindd Bra Co., six of the 12 bra styles on her website have sold out.
Company targets ambitious revenue goal for 2020
Beyond Meat Inc., the maker of plant-sourced protein substitutes, is aiming for the $500 million revenue milestone in 2020.
Trader Joe’s founder made his mark on the industry, shoppers
Trader Joe’s Co. founder Joe Coulombe, who died Feb. 28 at age 89, had eye for winning products and a passion for customer service that set the company he founded apart from other grocery chains.
Company brings a digital focus to last-mile category
Dray Alliance Inc., a digital marketplace for last-mile cargo transportation, raised $10.2 million in a Series A funding round led by Matrix Partners in San Francisco.
Retailer joins global denim initiative
Guess Inc. has joined a consortium of brands putting a priority on denim’s ecological footprint.
Ecommerce fashion company anticipates modest revenue for 2020
Revolve Group Inc. delivered a 21% increase in annual revenue and a 16% jump in net income for 2019, but its stock took a 23% dive the day after reporting year-end and quarterly results.
Maersk pays $545 Million for Performance Team
Performance Team of El Segundo has been acquired for $545 million by Danish shipping giant A.P. Møller – Maersk.
Truck parts maker staffs up in US
Frank Sonzala, chief executive of a South Gate-based truck chassis manufacturer, is transferring about a third of his company’s production from China to the United States, a move he says will create about 275 local jobs.
Landlord group rescues company from bankruptcy
Forever 21 Inc. is emerging from bankruptcy with new owners who have a stake in keeping the company going.
Bavarian-themed property will lay off 35 employees
An upcoming landmark designation will ensure the walls at Alpine Village remain intact, but there’s no guarantee the lights will stay on.
Top toymaker expects modest gains
Mattel Inc. managed to maintain revenue at $4.5 billion last year, and its guidance for 2020 calls for a modest full-year revenue growth of 1% to 2.5%, but Wall Street appears skeptical.
Cargo volume slips again at LA and Long Beach
The local ports reported single-digit dips in cargo volumes for January with one notable exception: Port of Los Angeles exports saw a modest upswing.
Footwear manufacturer passes $5 billion in revenue during ‘milestone year’
For Skechers USA Inc., 2019 was a “milestone year,” according to Chief Operating Officer David Weinberg.
Pizza industry veteran will be chain’s third chief executive since 2016
Fresh Brothers, the Inglewood-based pizza chain, has appointed Geoffrey Goodman as its third chief executive since the company was acquired by Nolan Capital Inc. in 2016.
Investment fund acquires pioneering ice cream maker
Mochi Ice Cream Co., credited with inventing and popularizing the frozen spin on the Japanese treat, has been sold by El Segundo-based Century Park Capital Partners.
Bankrupt fashion chain in line for new ownership
The fate of beleaguered fast-fashion retailer Forever 21 Inc. could be decided as early as Feb. 10.
Security, optoelectronic units drive gains
OSI Systems Inc., a manufacturer of security scanning equipment, medical monitoring devices and optoelectronic components, posted $64.8 million in net income on $1.18 billion revenue during its 2019 fiscal year.
City is considering plans to redevelop iconic area
The Santa Monica City Council will vote in March on Promenade 3.0, a master plan and financing strategy for the redevelopment of the area it had its staff develop last November.
Port of Los Angeles initiative launches after years of delays
After years of delays, officials for the Port of Los Angeles last week kicked off a $33 million project that aims to connect San Pedro’s Downtown Harbor to the future San Pedro Public Market development.
Company also shuffles management
Venice-based Hightimes Holding Corp., owner of High Times magazine, is venturing into retail.
$500 million will go toward international distribution centers
Skechers USA Inc. recently upped its short-term borrowing capabilities with a $500 million unsecured loan.
Manufacturing: Mergers are changing the landscape for local businesses
The manufacturing sector kicked off 2020 with several aerospace mergers that are poised to roll up local operations into much larger entities.
Tariffs take a toll as traffic falls from 2018 level
The trade war took a toll last year on the ports of Los Angeles and Long Beach, which saw cargo volume dip below the record levels reached in 2018.
Former Netflix exec will be first marketing head
FabFitFun Inc. has hired its first chief marketing officer, former Netflix Inc. executive Louisa Wee.
Design line launches fashion collection
Liliput & Co., which does business as Shabby Chic, the home goods brand, is aiming for another area of the house — the closet.
Deal for Seattle company expected to boost capacity
Glasswerks, a Southgate-based glass fabricator, acquired Seattle-based Northwestern Industries Inc.
Innovative local companies embrace volunteerism to connect with workers and their communities
Businesses taking note of employees' benefits preferences are embracing social responsibility programs to boost recruitment, retention and productivity.
Grocer reduces costs, passes along savings
Trader Joe’s Co.’s Charles Shaw wine is living up to its Two Buck Chuck nickname again, at least in California.
Molson Coors Beverage Co. said it will cease operations at its Irwindale brewery by September and has offered the facility to Pabst Brewing Co. for $150 million.
For the roughly 17,000 truckers who transport goods in and out of the Los Angeles and Long Beach ports, 2020 brings much uncertainty.
The streaming universe, which saw the arrival of two major players in 2019, will become even more crowded in the year ahead.
Candy-maker partners with GINgroup
Sugarfina USA is venturing into the Latin American market with a confections boutique in Mexico City, one month after it emerged from bankruptcy.
Doug Eroh and Brendan Harrington keep Longo Toyota in the driver’s seat
When Douglas Eroh took the reins as president and general manager at Longo Toyota in November 2018, he had a legacy to uphold — the dealership has been Toyota Motor North America Inc.’s top performer for more than half a century.
Sporting goods retailer upbeat despite stock slump
The Big 5 Sporting Goods Corp.’s holiday sales period is off to a solid start, picking up on the momentum from merchandise margin gains achieved in the prior quarter.
Signs deals with Indonesian, Danish port operators
The Port of Los Angeles has pledged to collaborate with entities from Northern Europe and Indonesia on port operations, technology and more.
Pop-up shops give a boost to area malls, especially during the holidays
Pop-up shops, once a novelty retail concept, are becoming part of the permanent landscape at local shopping centers.
Fashion: Retailer targets $3B in revenue by 2025
Guess Inc. Chief Executive Carlos Alberini returned to the company in February after a nine-year absence with big ideas and bigger goals.
Trade: Tariffs continue to take toll on imports
The ports of Long Beach and Los Angeles saw cargo traffic dip again in November.
Entertainment: After battling in 2019, showdown looms for Writers Guild, agencies
Behind the scenes in Hollywood, 2019 was an even more contentious — and litigious — year than usual, especially for the Writers Guild of America.
Integrity Cargo Solutions connects the dots for shippers, truckers
Integrity Cargo Solutions connects truckers and the loads they’ll haul.
Healthy pet snack-maker Pawstruck is barking up the right tree
It’s hardly a ruff life for Pawstruck, a healthy pet snacks venture.
ACCOUNTING: Deals for SRG and BPE&H team expands presence in LA market
Accounting firm Squar Milner continues to expand its L.A. footprint with two new deals.
A sprawling presence, from media to devices
Amazon is giving traditional Hollywood studios a run for their money.