National: May 11, 2001
San Francisco-based Gap Inc. announced plans to move part of it corporate headquarters to Albuquerque, N.M. this summer; the company has leased 160,000 square feet of office space, where approximately 300 positions will be based including accounts payable, inventory management, payroll, revenue accounting, letters of credit, property tax business licenses, human resources and administration; some of those positions represent employees relocating from San Francisco...The U.S. Postal Service plans to raise rates on most classes of mail except first class letters weighing less than 1 ounce; the rate hike is expected to go into effect July 1...Columbia, S.C.-based textile firm CMI Industries announced that it plans to continue to operate despite an involuntary bankruptcy petition filed against the company by holders of CMI senior subordinated notes...New York-based FUBU The Collection has signed a licensing agreement with New York-based Garson International for a line of leather sportswear and outerwear bearing the FUBU label for fall 2001; Garson also has a licensing agreement with XOXO...St. Louis-based Kellwood Co. and Perry Ellis International Inc. announced an amicable end to their licensing agreement for women’s sportswear...New York-based Nautica Enterprises Inc. closed its deal to purchase Los Angeles-based Earl Jean for $45 million.
