Sony said it will ship about half the PlayStation 2 video-game consoles it expected to ship, almost guaranteeing that the highly anticipated system will be the prize catch of the holiday shopping season. Sony said it will ship 500,000 units--about 100,000 per week- -for sale in the United States starting Oct. 26, and a total of 1.3 million by the end of the year, because of parts shortages. The company had earlier forecast a first-day shipment of 1 million units and a total of 2 million by year-end. Sony said it will meet its forecast of 3 million units shipped by March 31. The company's U.S. shares fell 9 percent, dropping $9.63 to $99.38, on PlayStation 2 concerns.
Nordstrom agreed to buy French clothing company Faconnable for about $170 million cash and stock to gain worldwide control of one of the upscale department-store chain's top-selling brands. Nordstrom already owns exclusive rights to distribute the Faconnable line of men's and women's apparel and accessories in the United States and has sold the products since 1989. The retailer also elaborated on plans for a new store at Dulles Town Center in Loudoun County. The two-story store will be 144,000 square feet and is scheduled to open in September 2002.
Scientific-Atlanta, the number two U.S. maker of cable-television set-top boxes, said it sold in the last week 1.83 million shares, or 30 percent of its stake, in Bookham Technology, a British firm that makes chips used in fiber-optic networks and to speed Internet access. Scientific-Atlanta, based in Norcross, Ga., will have a gain of $48.8 million, or 28 cents a share, for its first quarter ending Friday.
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