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The hedge fund that owns True Religion is exploring a sale of the Y2K-era jeans brand as it returns to growth and profitability after emerging from its second bankruptcy, CNBC has learned. It's unclear what valuation True Religion is seeking, but it could sell for a mid single digit multiple of its EBITDA, the people said. Farmstead Capital Management, True Religion's owner, has hired Baird to run the sale process. True Religion went public in 2003 and made headlines for its growth and profits. Buckley, who helmed the company during its 2000s heyday and returned in 2019, has transformed True Religion into a leaner machine.
Persons: Baird, Baird didn't, Juicy Couture, Jessica Simpson, Britney Spears, Neiman Marcus, Bloomingdales, Michael Buckley, athleisure, Buckley, Levi Strauss, Levi, Michael Kors, Ralph Lauren Organizations: CNBC, Farmstead Capital Management, Saks Fifth, Religion, Nike Locations: Angeles
But it comes with some pitfalls: In school, when my teacher called on Michael, six kids would answer. And it's my last name, Arkin, that always elicits the question, "Are you related to him?" As far back as I can remember, long before 23andMe could verify if we were or weren't related (were weren't), nearly everyone has asked that question or, better yet, "Are you one of the Arkins?" When I handed my credit card to the saleswoman, she looked at the name and asked the usual question. When he heard my name, his brow knitted, and with his signature intensity, he asked, "Do you think we could be related?"
Persons: David, Michael, Lucas, Reilly, Wyatt, Michel, Mischa, Miguel, It's, it's, I've, Alan Arkin, Michaels, Arkin, Alan, Adam, Oscar Organizations: Starbucks, Paramount Pictures, Marketing, Sundance Locations: United States
Dad fashion is trending again. AdvertisementSo why did those evolve into dad fashion? All of that might explain why dad fashion is once again dominant. Dad fashion seems to show up when consumers are feeling wary — not the worst they've felt, but certainly not the best. These so-called "core cultures" arose on platforms like Tumblr, Reddit, Instagram, and TikTok, in which young fashion consumers are eager to chop up fashion trends into subcultures and become devotees.
Persons: It's, , You've, Kramer, Bean, Thomaï, Seinfeld, Serdari, that's, Long, you'd Organizations: Service, GQ, New York University, New York Times, Siena College, Biden Locations: TikTok
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMacy's and Bloomingdales can learn from one another: Macy's President Tony SpringJeff Gennette, Macy's chairman and CEO, and Tony Spring, Macy's president and CEO-elect, join 'Mad Money' host Jim Cramer to talk the direction of the company moving forward.
Persons: Bloomingdales, Tony Spring Jeff Gennette, Tony Spring, Jim Cramer
The menu filter for “formal dresses” prompted her to choose from 15 criteria like dress length, color, neckline, sleeve length and embellishments. Months later, Ms. Schmelkin — in her role as the chief information officer at J. Crew Group — was introduced to Lily AI, an artificial intelligence-powered platform that began working with fashion retailers in 2019. Intrigued, Ms. Schmelkin did a test run on its product catalog from the company’s Madewell brand. By the time Madewell tried it out, Lily AI had run more than one billion searches, each helping the algorithm become more sophisticated.
Persons: Danielle Schmelkin, , Bloomingdales.com, , Schmelkin —, , Lily AI, Schmelkin, Lily
"In aggregate the Bed Bath & Beyond locations were some of the best that I've seen become available. The leases are for both Bed Bath & Beyond and Buy Buy Baby locations. Leases for the Buy Buy Baby outposts could be clawed back depending on what happens at an auction for the chain's assets, Bed Bath said in a court filing. Bed Bath raked in $24.41 million in all from the lease auction. A portion of those proceeds will likely go to unpaid rents at the locations and the rest will go to Bed Bath to pay the retailer's many creditors.
Persons: BURL, Bill Read, Read, Macy's, Noble, they'd, weren't Organizations: Burlington Stores, Burlington, Specialists, Target, CNBC, Factory, Barnes, Bed Locations: Burlington, America, , Florida, Concord , North Carolina, Bed Bath, Bath
We Tested Cold-Brew Coffee Makers—Here Are Our 3 Favorites
  + stars: | 2023-04-20 | by ( Nick Guy | ) www.wsj.com   time to read: +11 min
And many, including our top pick, the Oxo Brew Cold Brew Coffee Maker, make a brew that easily rivals a barista’s best. Best overallBest for saving spaceBest for coffee on tapOthers you should know aboutHow we pickedBest overallbuy side top pick OXO Brew Cold Brew Coffee Maker $41 at Amazon $ 52 Save $ 11 $52 at OXO Making delicious cold brew does not get much easier than with this OXO coffee maker. Best for saving spaceOXO Brew Compact Cold Brew Coffee Maker $27 at Amazon $ 34 Save $ 7 $35 at Bloomingdales This is the best cold brew maker if space is at a premium and you don’t drink tons of coffee. GrowlerWerks’ uKeg Nitro Cold Brew Coffee Maker is a different kind of cold brew maker, pumping out a brew that has the consistency of a Guinness. Cold Brew Championships–winning baristas to better understand what it takes to make great cold brew coffee.
Persons: Nick Guy, it’s, You’ll, both.We, that’s, There’s, you’re, Takeya’s, there’s, Brew Kit, It’s Organizations: Amazon, System, Brew, Guinness, Cold Locations: Bloomingdales
Analyst Matthew Boss upgraded the retail stock to overweight from neutral and increased his price target by $1 to $29. His price target implies the stock will rally 65.8% over the next year from where shares ended Friday's session. He said the retailer should be able to see multiyear EBITDA margins in the low double digits due to five "self-help" growth vectors. Boss said the stock has an attractive risk-to-reward ratio and is at an attractive entry point following recent underperformance. Macy's trades at around two times its 2024 EBITDA, he said, which places it around 50% below the average of stocks in the department stores/mall-based specialty category.
How are we approaching the market week ahead? I also explained that we are indeed in a bull market, but that things could get a bit rocky from here. Analyst Matthew Boss also increased his price target by a buck to $29, citing favorable risk-to-reward setup at current stock price. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.
Piper also likes Diamondback and Marathon , neutral on Club holding Coterra Energy (CTRA) and APA , formerly known at Apache. Multiple price target increases for Club holding TJX Companies (TJX). Canaccord starts Club holding Estee Lauder (EL) with a hold. Lowe's (LOW) price target raised to $253 per share from $248 at Piper, which liked the quarter. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Birkenstock's Boston clog, which has been around since the 1970s, is sold out almost everywhere. The New York Times reported that some resellers are charging as much as $350 for the $160 shoe. The shoe has been spotted on celebrities like Kendall Jenner and became a viral hit on TikTok. Enter TikTok, which causes trends to formulate and spread at warp speed, and Birkenstock's clog stockpile didn't stand a chance. This isn't the first time that the TikTok trend machine has boosted sales of a vintage product.
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