OHIO

OHIO
Wendy's lowers projection
DUBLIN, Ohio -- Wendy's International Inc. lowered its 2003 earnings expectations Monday, blaming an increase in state corporate income taxes.
The third-largest fast food hamburger chain projected profits of $1.97 to $2.03 a share for the year, compared with its previous range of $2.02 to $2.08 per share.
Analysts surveyed by Thomson First Call had predicted earnings would increase to $2.02 from $1.89 in 2002.
Higher taxes also will decrease expected second-quarter earnings 3 cents to 53 cents per share, down from 54 cents in the year-ago quarter, the company said.
Analysts forecast 56 cents a share for the quarter.
WORLD
Tops parent companyfaces investigation
AMSTERDAM, Netherlands -- After weekend raids on the headquarters of Ahold, the Dutch public prosecutor's office said Monday it has begun a criminal investigation into the global grocery retailer for allegedly falsifying documents and publishing incorrect information in its annual reports. It is the parent of Tops Friendly Markets and other grocery chains.
Ahold said in a statement that its head offices in the Netherlands had been raided, and that it had "given its full cooperation" to investigators. The Dutch offices of Ahold's accountant, Deloitte & amp; Touche, also were raided.
NATION
Apparel company to buyNautica Enterprises
CHARLOTTE, N.C. -- In a move that is expected to add more cachet to its repertoire of brands, VF Corp. agreed Monday to buy high-end clothing company Nautica Enterprises Inc. for nearly $586 million.
The all-cash offer by VF, the maker of men's and women's sportswear and Lee and Wrangler jeans, represents a 28 percent premium to last Thursday's closing price of $13.19 for Nautica shares. The stock has traded between $14.78 and $8.06 in the past year.
Greensboro, N.C.-based VF, which calls itself the world's largest apparel company, said the acquisition will boost its presence in department and specialty stores and provide additional sportswear lines.
Associated Press