The U.S. outdoor apparel brand beat estimates and posted a rise in sales for the first quarter to over $543 million, but the radically evolving American sports wholesale and retail industry dragged down results at home.
Vince posted net comparable sales decreases for both periods, going so far as to say there is "substantial doubt" about its ability to continue as a going concern. The brand also suspended its net sales and EPS guidance.
Urban Outfitters, Inc., which controls brands such as Anthropologie, Bhldn, Free People, Terrain and Urban Outfitters, has announced a major overhaul to its leadership, which could initially cost up to to $8 million.
A consortium led by private equity firms Hillhouse Capital Group and CDH Investments offered on Friday to buy Belle International Holdings in a deal valuing the Hong Kong-listed shoe retailer at about $6.8 billion.
Swiss luxury watchmaker Breitling, whose sought-after timepieces are worn by celebrities including David Beckham and John Travolta, has been sold to CVC Partners, the private equity group revealed Friday.
The Federal Trade Commission gave a private equity firm approval on Thursday to sell to Dollar General Corp 323 stores that Sycamore purchased as part of a divestiture package two years ago, the agency said on Thursday.
The New York City-based company increased its sales to $1.8 million driven by sales at specialty stores and e-commerce sites such as Lord & Taylor, Nordstrom and Amazon where it launched products in 2016.