ROANOKE TIMES 

                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: TUESDAY, March 14, 1995                   TAG: 9503140139
SECTION: BUSINESS                    PAGE: B6   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

IN BUSINESS

Vishay closes 2 operations

Vishay Intertechnology Inc., Malvern, Pa., maker of electronic components for industry and parent of Vitramon Inc. of Roanoke, said Monday it has closed its manufacturing operations in Hudson, N.H., and Florence, S.C., and consolidated those operations into other Vishay facilities. The moves, which are not expected to affect the Roanoke operations, are expected to save more than $4 million a year, the company said.

- Staff report

Hanover to invest in Fla. company

Hanover Direct Inc., Weekawken, N.J., mail order merchant operating warehouses and telemarketing offices for its Tweeds and Domestications catalogs in Botetourt and Roanoke counties, said Monday it has agreed to invest $8 million in Tiger Direct Inc., a Miami mail-order retailer of computer equipment and software. Under terms of the agreement between the two companies, Hanover's investment ultimately may grow to $17.7 million.

- Staff report

Earnings

Hills Stores Co., Canton, Mass., operator of 156 discount stores, reported net earnings of $40.4 million, or $2.73 per share, on sales of $1.87 billion in its fiscal year ended Jan. 28, compared to pro forma earnings of $30 million, or $2.03 per share, on sales of $1.77 billion. The pro forma results reflect operations of a predecessor company before Hill's plan of reorganization under bankruptcy. For its fourth quarter, Hills reported net earnings of $33.5 million, or $2.26 per share, on sales of $673.6 million, compared with year-earlier $$32.2 million, or $2.17 per share, on sales of $626.9 millilon.

Toys R Us Inc., Paramus, N.J., toy retailer, reported net earnings of $531.8 million, or $1.85 per share, on sales of $8.75 billion in its fiscal year ended Jan. 28, compared with year-earlier $482.9 million, or $1.63 per share, on sales of $7.95 billion. For its fourth quarter, earnings were $408.8 million, or $1.46 per share, on sales of $4.20 billion, compared with year-earlier $374.6 million, or $1.27 per share, on sales of $3.89 billion. 


 by CNB