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latest from financial and general interest news

Apparel Industry M&A On The Rise In 2020

Mergers and acquisitions, both large and small, are on the rise in 2020. FMMG Advisors, the Brooklyn-based firm that specializes in the apparel industry, is working with several companies and brands that are either for sale or are seeking investors. » I want to read more and receive info from FMMG, Inc.

FMMG Works With Firms Seeking A Buyer

FMMG Advisors LLC, managed by Nick Monjo, provides information and confidential advice to companies looking to find a buyer for their apparel firm. » I want to read more and receive info from FMMG Advisors LLC

Triumph About To Open 2 Long Island Stores

Triumph held a “media event” (in the words of one executive — meaning that the focus was not on impressing retailers, who were not in attendance in any number) the night of July 18, as part of its expansion plans for the U.S. Most significantly, two Triumph flagship locations are about to open, one in the Roosevelt Fields mall, one in the Walt Whitman mall. » I want to read more and receive info from Triumph

Demakos SVP at René Rofé

Todd Demakos is now working as SVP and sales manager in the René Rofé division of International Intimates, Inc. His mission is to expand sales at the already successful company, he told BODY. » I want to read more and receive info from International Intimates

Abercrombie Intros. Padded Kids Bikini

Abercrombie & Fitch Inc. is being criticized for selling a padded bikini for girls, FoxNews.com reported Friday. » I want to read more and receive info from Abercrombie

Frederick’s Enters the Middle East

Frederick’s of Hollywood Group Inc. announced last week that it has entered into an exclusive, multi-year licensing agreement with Emirates Associated Business Group (EABG) to open retail stores throughout the Middle East. » I want to read more and receive info from Frederick’s of Hollywood

National Mill Moves To Larger Space

National Mill Industry, which makes intimate apparel under the Carnival Creations label, has bought a 70,000 square foot building and is the process of moving all operations there. » I want to read more and receive info from Carnival Creations

The Gap Plans 200 Closures

The Gap Inc. plans to close 200 of its The Gap stores worldwide by 2013, C.E.O Glenn Murphy revealed during a presentation at this month’s Bank of America/Merrill Lynch consumer conference. » I want to read more and receive info from Gap Inc.

R.G. Barry To Acquire Baggallini

R.G. Barry Corporation, a slipper and accessory marketer with the Dearfoams flagship brand, announced on March 16 that it is acquiring the principal assets of Baggallini Inc., an Oregon-based accessory maker, for approximately $33.8 million. » I want to read more and receive info from RG Barry

Saks 4q Sales Exceed Expectations

Driven by strength across merchandise categories including women and men’s apparel, Saks Inc. cited a 8.4 percent comparable store sales increase during the fourth quarter ended January 29, and a 6.4 percent increase during the fiscal year ended the same day. » I want to read more and receive info from Saks

Target Goes Smaller for Cities

Target Corporation, known for its sprawling suburban stores of between approximately 135,000 and 174,000 square feet, is launching a smaller store concept for urban environments, called CityTarget. » I want to read more and receive info from Target

Davis to Head New Walmart Division

Wal-Mart Stores Inc. has named Cindy Davis executive vice president of global consumer insights, a new division charged with helping Walmart and Sam’s Club better understand consumer trends and needs. » I want to read more and receive info from Walmart

R.G. Barry Acquires Foot Petals

R.G. Barry, the accessory and slipper marketer that produces Dearfoams, announced Friday that it has acquired Foot Petals, LLC for $14 million. » I want to read more and receive info from RG Barry

Target Announces Canadian Entrance

The trend toward international expansion continues with Target Corp. The Minneapolis-based company announced Friday that it has purchased 220 sites from Canadian-based Zellers Inc., a subsidiary of the Hudson’s Bay Company, for $1.825 billion, with plans to open its first stores in the country in 2013. » I want to read more and receive info from Target

Target To Open 21 in 2011

Target Corp. will open 21 stores in 13 states during 2011, the company announced Monday. » I want to read more and receive info from Target

American Eagle To Enter Japan

American Eagle Outfitters Inc. is entering the Japanese market through an exclusive franchise agreement with Sumikin Bussan Corporation, the retailer announced in late December. » I want to read more and receive info from American Eagle

Macy’s To Build Fulfillment Center

Macy’s Inc. announced Monday that it plans to build a 1.3 million-square-foot fulfillment center near Martinsburg, W.Va. to support its growing e-commerce business. » I want to read more and receive info from Macy’s

Am. Eagle to close 50-100

American Eagle Outfitters said it plans to close between 50 and 100 stores over the next two to five years, while targeting international growth through franchise agreements. The company completed the closure of its MARTIN + OSHA chain during the second quarter ended July 31, 2010, ending the period with 1,083 stores. » I want to read more and receive info from American Eagle.

Limited Brands Sales Up 7%

Driven by comparable store sales growth across several brands, including a 13 percent increase for Victoria’s Secret, Limited Brands, Inc. cited a 7 percent comparable store sales increase during the second quarter ended July 31, 2010. Net sales were $2.243 billion compared to $2.067 billion during the same period last year. » I want to read more and receive info from Limited Brands

American Apparel’s debt rises

In its preliminary results for the second quarter ended June 30, 2010, American Apparel cited a 16 percent decline in comparable store sales. Total debt grew by $28.9 million, to $120.3 million, from $91.4 million as of March 31, 2010. » I want to read more and receive info from American Apparel

Maidenform 2q Results Up

Maidenform Brands, Inc. reported 2010 second quarter net income of $13,659,000 on sales of $149,401,000 compared to income of $7,278,000 on sales of $114,205,000 for the same quarter last year. This 31 percent increase was “driven by continued strength in its core shapewear and bra businesses across the company’s wholesale channels,” according to a company statement that accompanied the release of results. Shapewear net sales increased 44 percent, bra net sales increased 31.6 percent, department stores and national chain stores channel net sales increased 17.5 percent and mass merchant channel net sales increased 61.3 percent, the statement declared. » I want to read more and receive info from Maidenform

Frederick’s gets $7 mill. loan

Frederick’s of Hollywood Group Inc. said it has entered into a financing agreement which provides for a $7 million term loan through Hilco Brands, LLC (an affiliate of Hilco Consumer Capital, LLC) and its partner Infinity FS Finance I, LLC (an affiliate of Infinity FS Brands, LLC). Proceeds from the term loan were used to repay the company’s $2 million bridge loan and the balance will be available to Frederick’s as additional working capital. » I want to read more and receive info from Fredericks of Hollywood

Iconix Brings Candie’s To China

Iconix Brand Group, Inc. is growing its Chinese presence. Iconix China Limited, the company’s joint venture with Novel Fashion Brands Limited started in 2008, has partnered with Shanghai La Chapelle Garment and Accessories Co. Ltd. and Trust Bridge Partners to open Candie’s specialty and franchise stores throughout the country. The first Candie’s store is slated to open this August in Shanghai. » I want to read more and receive info from Iconix

AE Enters China, Hong Kong

Driven by the appetite for fashion in Asia, American Eagle is opening its first stores in China and Hong Kong through a franchise agreement with Dickson Concepts, an international retail company with 400 stores throughout Asia. This announcement comes on the heels of news that the company had entered the Middle East with stores in Dubai and Kuwait this March. » I want to read more and receive info from Aerie

Shanghai Mode Adds Feature

Eurovet’s Shanghai Mode expects to welcome 200 exhibitors from around the world to the 6th annual two-day event, set for October 19 and 20, 2010 at the World Expo in Shanghai, China. » I want to read more and receive info from Shanghai Mode

Hanes Fights Bacon Necks

On May 16, Hanes kicked off its men’s underwear marketing campaign featuring basketball star Michael Jordan. Jordan is acting in a series of television commercial about Hanes Lay Flat Collar undershirts, which the company claims do not droop into wavy “bacon necks” like many other men’s undershirts. The commercial is airing on cable entertainment and sports programming. The campaign will also include radio commercials, Internet content pieces and digital activations. » I want to read more and receive info from Hanes

Frederick's Swim Sneak Peak

After announcing last week that Blue By Yoo is producing its licensed swimwear, Frederick’s of Hollywood has released images of some of the styles seen in the line’s limited edition collection, which will be available for purchase on May 17. The company has also revealed the lines name, Hollywood Sizzle by Frederick’s of Hollywood. The six styles previewed are available in sizes S through XL for a retail price range of $88 to $108. The company will show the full line at this July’s Miami Swim Show. » I want to read more and receive info from Fredericks of Hollywood

Eveden Purchases Huit

The Eveden Group has purchased Huit, a bankrupt lingerie and swimwear wholesaler. Eveden will take immediate control of the company, which filed for France’s equivalent of chapter 11 bankruptcy protection at the end of March. » I want to read more and receive info from Eveden

Eveden Purchases Huit

The Eveden Group has purchased Huit, a bankrupt lingerie and swimwear wholesaler. Eveden will take immediate control of the company, which filed for France’s equivalent of chapter 11 bankruptcy protection at the end of March. » I want to read more and receive info from Huit

Target: 2.7% 2Q Sales Drop

Target Corporation reported net earnings of $594 million in the second quarter ended August 1st, 2009, compared with $634 million in last year’s second quarter. Earnings per share decreased 3.9 percent to 79 cents from 82 cents, beating expectations; the company said. “[This was] due to a very strong operating margin in our retail segment, and credit card segment performance in line with expectations,” Gregg Steinhafel, chairman of the company, commented. » I want to read more and receive info from Target Corporation

Gmac Changes Status, Merkin Resigns

GMAC has become a bank holding company and is reducing its board of directors to seven members by March 24, 2009. Current chairman J. Ezra Merkin resigned as of January 9, 2009. His interim replacement is Lenard Tessler, managing director and co-head of Private Equity at Cerberus Capital Management. » I want to read more and receive info from GMAC

Claiborne Cuts Cash Dividend

Liz Claiborne’s board of directors voted and decided to suspend the company’s quarterly cash dividend indefinitely. » I want to read more and receive info from Claiborne

Gildan Sales Up 27.4 Percent

On December 11th, Gildan Activewear, Inc. announced the results for its fourth quarter and fiscal year ended October 5, 2008. » I want to read more and receive info from Gildan

American Apparel: Sales Up 6%

On December 4th, American Apparel, Inc announced its comparable store sales for the month of November 2008. » I want to read more and receive info from American Apparel

Hanesbrands Fires 210, Closes Yarn Plant

Hanesbrands Inc., is eliminating approximately 210 positions in management and corporate functions, the company announced. » I want to read more and receive info from Hanesbrands

Sales Up For Wal-mart

Wal-Mart Stores, Inc, saw a sales increase at a time when most retailers are posting lower sales. An increase was registered for both their four- and 43-week periods, ended November 28th and November 30th, respectively. » I want to read more and receive info from Wal-Mart Stores, Inc