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Non-Tech : Stride Rite (SRR) Children's Shoes, Keds
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To: tide who wrote (91)3/10/1999 7:46:00 PM
From: Joseph Strohsahl   of 100
 
March 8,1999
Morgan Stanley Dean Witter
Stride Rite (SRR, STRONG BUY, Price target $17)

Stride Rite shares rose 4.4% in February. At the Financial Day in Atlanta, SRR's CEO Jim Eskridge reiterated the company's goal to grow sales 10% and profits 30% in each of the next three years. This will be done through the company's three growth vehicles, Keds', Stride Rite brand, and Sperry, as well as the Tommy Hilfiger license. During the month, the company agreed to license its brand name to Zyloware Corporation, which produces sunglasses. The Stride Rite sunglasses will be available at Stride Rite retail stores beginning in March, while Stride Rite prescription frames should be sold through Zyloware's distribution sources beginning in June.
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