Carter Hawley Hale Stores, Inc.
Carter Hawley Hale Stores, Inc.
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Product Details
CompanyCarter Hawley Hale Stores, Inc.
Certificate Type
Common/Convertible Preferred Stock
Date Issued
1970's
Canceled
Yes
Printer
Jeffries Bank Note Company
Signatures
Machine printed
Approximate Size
12 1/8" (w) by 8" (h)
Images
Representative of the piece you will receive
Guaranteed Authentic
Yes
Additional Details
NA
Historical Context
In 1984, Carter Hawley Hale Stores was the largest retailing chain on the West coast, and sixth largest in the country. Based in Los Angeles, its nationwide empire stretched from trendy LA bargain basements to tiny boutiques on New York's famous Fifth Avenue, with a bookstore chain in between. Operating under the CHH flag were Bergdorf-Goodman, The Broadway, Contempo Casuals, Emporium-Capwell, Hole Renfrew, Neiman-Marcus, Thalimers, Walden Books, John Wanamaker, and Weinstock’s.
The chief executive of this diverse conglomerate since 1973 was Philip M. Hawley. He had led the company on an ambitious acquisition drive, increasing revenue threefold.
Despite the strength of the company’s franchise, however, there was a widespread belief that weak management was dragging down the company’s earnings, reflected in Wall Street’s favorite saying about the company: “God gave them Southern California and they blew it.” Hawley’s acquisition program had resulted in enormous growth in sales, but not in profits. The company’s net earnings had barely grown in the ten years of Hawley’s stewardship.
On two separate occasions, The Limited, Inc. attempted a hostile takeover of the company – but failed each time, finally withdrawing the second offer after the company restructured to fend off the attack.
At first, the employee-shareholders appeared to have made out like bandits. CHH stock reached a peak of nearly $80 during the period following The Limited’s second bid, but by the end of 1987, CHH’s stock had plunged to around $10. Over the next four years the company failed to live up to the projections provided in the 1987 restructuring prospectus. The stock continued on its downward spiral, reaching a low of less than $5 a share in late 1990. The company filed for Chapter 11 bankruptcy protection on February 11, 1991.
Related Collections
Additional Information
Certificates carry no value on any of today's financial indexes and no transfer of ownership is implied. All items offered are collectible in nature only. So, you can frame them, but you can't cash them in!
All of our pieces are original - we do not sell reproductions. If you ever find out that one of our pieces is not authentic, you may return it for a full refund of the purchase price and any associated shipping charges.
FAQ
Are the certificates offered on your site genuine or reproductions?
All of the certificates you see on our site are genuine pieces, we do not sell any reproductions.Are the certificates you sell negotiable on any of today's stock markets or indexes?
No. All of the pieces we sell are either canceled or obsolete and have collectible value only.
Are the images presented in your product listings of the exact piece I will receive?
It depends. We try to present images of the exact piece you will receive whenever possible. However, when we are offering quantities of a piece, this is impossible. Within every product page we detail whether or not you will be receiving the exact certificate listed, or if the image is a representative example of the one you will receive.
How will you ship my order and how much do you charge?
We ship all orders via the United States Postal Service. Most domestic orders are shipped via Ground Advantage. USPS International, Priority and Express Mail, UPS and DHL services are also available, and costs are calculated during checkout. Current charges may be reviewed here.
Can I return my purchase?
Absolutely. You may return any merchandise, for any reason, within 30 days of the purchase date for a full refund of the purchase price.
We guarantee all of our pieces to be authentic. If you ever determine that a piece is not authentic, it may be returned for a full refund of the purchase price as well as any associated shipping charges.
Shipping Information
If your order exceeds $35, and the shipping address is within the United States, shipping via USPS Ground Advantage is FREE!
We make every effort to ship out all orders within 24 hours of receipt.
We ship the majority of orders via the USPS, with domestic orders using the Ground Advantage service.
Shipping is calculated during checkout. Upgraded services such as Priority and Express Mail, as well as UPS and DHL options, are also available.
As soon as your order is shipped you will receive your tracking information via email.
OVERSEAS ORDERS PLEASE NOTE THAT WE DECLARE FULL ORDER VALUE ON ALL SHIPMENTS. CUSTOMER IS RESPONSIBLE FOR ALL VAT/CUSTOMS CHARGES.
Returns
Our goal is to make sure every item you receive is exactly what you had in mind. If you not happy with your purchase, we’ll help you get it sorted in a timely and professional manner.
You can return anything we offer for an exchange, refund or store credit within 30 days of delivery. Return shipping costs may apply, and the item must be in its original condition and packaging.
Any shipping charges collected on the original order are not eligible for a refund.