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Two Reduce Owner Interest in Clothestime: Two...

From Times Staff and Wire Reports

Two Reduce Owner Interest in Clothestime: Two Los Angeles advertising executives have reduced their ownership interest in Clothestime Inc., an Anaheim-based chain of discount fashion stores for young women. Jack Roth, president of Admarketing Inc., and Robert Recht, chairman, sold a combined 177,000 shares of Clothestime stock between Jan. 22 and March 8 for $1.95 to $4.07 a share, according to a Securities and Exchange Commission filing. The sale leaves them with a combined 698,000 shares and reduces their ownership interest to 4.95%, down from 6.2%. The pair bought about 748,500 shares of Clothestime stock last November, explaining at the time that they considered the stock to be underpriced. Admarketing handles the Clothestime advertising account.


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