Herman's may close 132 storesHerman's World of Sporting...

BUSINESS DIGEST

March 31, 1993

Herman's may close 132 stores

Herman's World of Sporting Goods, which disclosed it was losing $1 million a week when it filed for bankruptcy protection, said yesterday that it wants to close 132 of its 257 stores and concentrate on its core Northeastern market.

The Carteret, N.J.-based company, which filed for protection from its creditors earlier this month, said it will ask a bankruptcy judge for permission to close the stores. None of the company's 11 stores in Maryland will be affected in this round of closings.

Marriott to serve own brew

Marriott hotels, encouraged by the popularity of micro-brewed beers, announced yesterday that its own golden amber brew will be served at its restaurants and lounges nationwide beginning this week.

Champions Clubhouse Classic is being brewed by Dubuque Brewing & Bottling Co. as a result of a joint venture between its parent company, Brandevor USA Inc., along with Marriott and Champions Sports Inc.

Maytag fires 3 executives

Maytag Corp. fired three executives at its troubled Hoover Europe division, saying an appliance sales promotion promising customers free air travel had gotten out of hand.

The company said yesterday that the response to the offer was so overwhelming that it will have to take a one-time $30 million charge against earnings in the first quarter to pay unexpected costs.

Hughes pact set on Earth study

Hughes Information Technology Co., a Seabrook-based unit of Hughes Aircraft Co., has reached a final agreement on a $766 million contract to operate the data and information system for NASA's Mission to Planet Earth satellite system.

The work will be performed at a newly constructed data collection center to be built near the Goddard Space Flight Center in Greenbelt. The project is expected to create about 500 jobs by the end of the decade, Maryland Sen. Barbara A. Mikulski said in announcing the agreement.

TI to boost capital outlays

Texas Instruments Inc., a Dallas-based maker of semiconductors, software and defense electronics, plans to increase capital spending 45.6 percent this year to meet the surging demand for semiconductors.

TI will raise capital spending to $625 million in 1993 from $429 million in 1992, according to a copy of the company's annual report filed with the Securities and Exchange Commission March 25.

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