![]() On Monday, Wolverine Worldwide - the company behind Merrell, Saucony, Sperry, Stride Rite and other shoe names - scooped up Lululemon rival brand Sweaty Betty for $410 million.īig-box chains Dick's Sporting Goods, Kohl's and Target have also launched their own activewear offshoots, competing with the likes of Nike, Under Armour and Gap 's Athleta banner. Levi's acquisition is yet another vote of confidence that an already hot retail sector is growing even hotter, as companies from Kohl's to Target vie for a sliver of the activewear market. The goal is to grow women's to 50%, Bergh said. The deal should also help Levi grow its women's business, which accounts for roughly one-third of sales today. Its marketing often echoes messages of body positivity and size inclusivity to younger girls.īergh said Levi plans to expand the Beyond Yoga brand outside of the United States and open more bricks-and-mortar stores. The brand, headquartered in Los Angeles, was founded by two women in 2005. Levi CFO Harmit Singh commented that Beyond Yoga has more than doubled its revenue while growing profitability over the past three years. Co-founder Michelle Wahler will continue to serve as Beyond Yoga CEO, reporting to Bergh. Levi shares were up less than 1% in extended trading on the news.Īfter the transaction is complete, Levi said Beyond Yoga will operate as a standalone division within its business. It puts us as a company smack into the high-growth, high-margin activewear segment." "We've been looking at acquisitions for quite some time, and the activewear space has obviously been very, very attractive," Levi CEO Chip Bergh told CNBC in a phone interview. Levi expects the acquisition will add more than $100 million to its net revenue next fiscal year, and immediately bolster its earnings. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.Best Debt Consolidation Loans for Bad Credit On the date of publication, Shrey Dua did not hold (either directly or indirectly) any positions in the securities mentioned in this article. Read More: Penny Stocks - How to Profit Without Getting Scammed If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that ’s writers disclose this fact and warn readers of the risks. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. ![]() It’s unclear what the end fate of the retailer will be once the auction is concluded. While ’s bid will grant the company access to its online data and mobile properties, the offer doesn’t include Bed Bath or Buy Buy Baby store locations, which are currently in the midst of liquidation sales.Īs it stands, Bed Bath reportedly has 480 retail locations divided between its namesake and infant specialty stores. The bankrupt once-upon-a-time retailer is down more than 4% today on over-the-counter ( OTC) markets. BBBYQ Stock Falls on Overstock Stalking Horseĭespite OSTK stock’s rise, BBBYQ stock - even after being delisted from major exchanges - is having a rough day. ![]()
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