CITA MOVES ON BELARUS: The Committee for the Implementation of Textile Agreements is expected to announced today that it will impose a 12-month quota limit of 55,021 dozen on imports of wool slacks and shorts, and 23,595 dozen on imports of wool coats from Belarus beginning April 24, if it cannot reach a solution with the former Soviet republic through consultations. Belarus is not a member of the World Trade Organization and its apparel and textile trade is not restrained. For the year ending in February, overall apparel and textile imports from Belarus plunged by 41 percent, but wool apparel imports rose 38.56 percent to 2.257 million square meters equivalent, valued at $12.93 million, according to the Commerce Department. Belarus’ share of the U.S. apparel and textile market is miniscule, standing at 0.04 percent, in SME terms.
CUTTING OUT: The management overhaul continues at Seattle-based golf lifestyle brand Cutter & Buck Inc. President, chief operating officer and director Marty Marks resigned Monday, just 10 days after chief executive officer Harvey Jones resigned. Marks’ position is being eliminated; the company will search outside its ranks to replace Jones, according to a company spokeswoman. She characterized the split as a “mutual decision,” and said the board was looking for “a ceo with a different skill set” and for “some strategic growth initiatives.” Jones and Marks will continue to advise the company, the spokeswoman said.
LIMITED OFFERS: The Limited Inc. said it will offer $300 million in 30-year fixed-rate debentures next week. Net proceeds will be used to pay off $150 million in notes due in May. Meanwhile, Too Inc., the girls’ and juniors’ chain Limited spun off in 1999, plans to issue another 2.4 million shares of its common stock and use the proceeds to pay down debt and for general corporate purposes. Up to another 360,000 shares may be offered to cover any overallotments. Bear, Sterns & Co. and J.P. Morgan Securities are managing underwriters for the offering.