Retailer Zalando Shakes Up Management After Strategy Shift
The company, whose stock soared to a record during the pandemic, has languished as faster inflation and shoppers returning to stores pummelled sales in 2022 and 2023.
The bid comes as investors hope to reinvigorate the fading 349-year-old department-store chain.
The company is poised to reveal that it owns about 29.4 million shares in Hudson’s Bay Co, having acquired about 18.5 million in July.
With millennial shoppers keener to buy online or directly from brands, Hudson's Bay has yet to offer something they can’t find somewhere else and risks drifting into irrelevance.
The deal allows the Canadian retailer to divest operations of the struggling Lord & Taylor chain while holding onto the more valuable asset — the real estate on which the stores are located.
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Catalyst’s purchase of a minority stake adds to pressure on Chairman Richard Baker to boost his bid, which also faces opposition from activist investor Jonathan Litt.
The Private Equity firm offered to buy up to 14.85 million shares of the retail group in a bid to oppose Executive Chairman Richard Baker's plans to take the company private.
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The company, whose stock soared to a record during the pandemic, has languished as faster inflation and shoppers returning to stores pummelled sales in 2022 and 2023.
Fast-growing DTC sales helped the brand beat Wall Street expectations in the quarter ending March 31.
The British fashion house will likely reveal that its fiscal fourth quarter — which will be reported on Wednesday — is expected to be the year’s worst, according to analyst estimates compiled by Bloomberg.
A sale would undo a blockbuster trans-Atlantic merger that took place in stages beginning more than a decade ago.
Ouai founder Jen Atkin’s 10-year-old editorial hair care site Mane Addicts has effectively shut down.
Sales rose 4 percent on a reported basis, as consumer pullback from Japanese brands and inventory adjustments dragged down overall earnings.
The lingerie maker said Thursday that its preliminary sales and adjusted profit for the quarter ended May 4 were at the high end or above its prior projections.
The American apparel chain will reopen a womenswear store in the retail neighbourhood since its last location closed in 2018.