![]() ![]() Gear executives note that the company skyrocketed from an $11-million firm to a $900-million-a-year business in five years, and that its revenue climbed 50% in the fiscal year ended Nov. Gear’s founder, chairman and chief executive. Greenberg, the blunt, gravelly-voiced former hairdresser who is L.A. Didn’t anyone hear that it was a bad Christmas at retail?” said Robert Y. “I stub my toe, and the whole world attacks. It also has been sued by shareholders, investigated by federal customs officials and, most recently, forced to reach a new agreement with its lenders.īut company executives say the concerns about L.A. ![]() Meanwhile, during the past year the Marina del Rey company has squabbled with celebrities hired to push its sneakers. On Wednesday, however, an NBC spokeswoman said the network would run it without any changes. The launch of the Catapult line hit another minor snag over the weekend when CBS and NBC balked at airing L.A. Gear’s image has been tarnished because so much of its merchandise now is for sale at discount stores, swap meets and even from the backs of trucks-are reluctant to give shelf space to its $100 Catapult basketball shoes. The sneaker maker lost as much as $6 million in the last quarter, and its inventory remains overloaded with slow-selling lines. Trouble is, lately, it’s been barreling in the wrong direction. Gear, as its slogan says, might really be unstoppable. ![]()
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