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☆ Express files for bankruptcy, plans to close nearly 100 stores as investor group looks to save the brand
▼ + stars: | 2024-04-22 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

The company said hours for remaining stores won't change and it will continue to accept orders and returns as usual. "The proposed transaction will provide Express with additional financial resources, better position the business for profitable growth and maximize value for the Company's stakeholders," Express said. "We are taking an important step that will strengthen our financial position and enable Express to continue advancing our business initiatives," he added. Last spring, Express acquired Bonobos' operating assets and related liabilities for $25 million from Walmart in a joint deal with WHP. The deal came as Express' "core business was weak, and cash was tight," GlobalData managing director Neil Saunders said in a Monday note.

Persons: –, Stewart Glendinning, Neil Saunders, Saunders, Kirkland Organizations: Express Inc, Longtime, Express, WHP, Simon Property Group, Brookfield Properties, Les Wexner's, CNBC, Walmart, Powerhouse, Ellis, Partners Locations: New York, U.S

☆ Express files for bankruptcy; closing more than 100 stores
▼ + stars: | 2024-04-22 | by ( Parija Bhatnagar | ) edition.cnn.com time to read: +2 min

New York CNN —Trendy fashion retailer Express Inc. has filed for bankruptcy after consistently struggling with continued missteps over its merchandise mix that failed to get shoppers excited. The retailer filed with the bankruptcy court in Delaware and said it also plans to shutter several stores as part of the process. The company operates Express, Express factory outlets, Bonobos and UpWest stores under its corporate umbrella and said in a release Monday that it plans to close 95 Express locations (it operates more than 500 in the US) and all UpWest locations with closing sales at those stores set to begin on April 23. “With the company struggling to gain traction with consumers, it has been obvious for quite some time that bankruptcy was the inevitable destination for Express,” Neil Saunders, managing director of GlobalData, said in a note Monday. “We are taking an important step that will strengthen our financial position and enable Express to continue advancing our business initiatives.

Persons: “, Neil Saunders, GlobalData, ”, Saunders, ” Stewart Glendinning, “ WHP, ” Glendinning Organizations: New, New York CNN, Express Inc, Express, WHP Global Locations: New York, Delaware

☆ Babies R Us is coming to about 200 Kohl's stores
▼ + stars: | 2024-03-12 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +1 min

Kohl's said Tuesday that it's teaming up with the owner of Babies R Us to bring baby gear, furniture and more to approximately 200 of its stores across the country. In a news release, Kohl's said the first Babies R Us shops will open this August and expand to more stores in the fall. Kohl's said the shops will range from 750 to 2,500 square feet, and will add more brands and merchandise to Kohl's baby category. As of Monday's close, Kohl's shares have fallen about 5% so far this year. Kohl's shares closed on Monday at $27.19, bringing the company's market value to $3.01 billion.

Persons: Kohl's, it's, Joe's Jeans, Anne Klein, Fisher, Price, It's, Tom Kingsbury, Michelle Gass, Levi Strauss, That's Organizations: WHP, Burlington Stores, Franchise Group, Macy's

☆ Toys R Us is opening in America’s biggest mall as part of its comeback
▼ + stars: | 2023-11-13 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +2 min

New York CNN —Just a few years ago, Toys R Us was on its way to the retail graveyard after going out of business. Now, it’s coming to America’s biggest mall, just in time for countdown to Christmas. Toys R Us at one point was the leading toy chain in the United States and globally. But Toys R Us’ size – both in global store fleet and massive inventory – eventually contributed to its downfall as the company buckled under billions of dollars of debt. Since then, Toys R Us has been on an expansion frenzy as it attempts to reintroduce the toy store company to more online-savvy Millennial and Gen Z shoppers.

Persons: New York CNN —, Michael Siluk, Macy’s Organizations: New, New York CNN, America’s, WHP, Tru, of, Go, Retail Locations: New York, United States, of America, Bloomington , Minnesota, America, New Jersey

☆ Hanesbrands is shopping Champion — and WHP Global, Authentic Brands Group are both interested in buying
▼ + stars: | 2023-11-01 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +1 min

Brand management firms WHP Global and Authentic Brands Group are both interested in buying Champion from its parent company Hanesbrands , which is considering offloading the sportswear line amid pressure from activist investors, CNBC has learned. At the time, Hanesbrands said those options could include a potential sale of Champion or another type of strategic transaction. Hanesbrands has seen wide interest in acquiring Champion from a mix of buyers, including WHP and Authentic Brands, according to people familiar with the matter. WHP and Authentic Brands didn't return requests for comment. Goldman Sachs, which has been tapped as Hanesbrands' financial advisor for its review of Champion, declined to comment.

Persons: Hanesbrands, it's, didn't, Goldman Sachs Organizations: Brand, WHP Global, Authentic Brands, CNBC, Champion, Barington Capital Group

☆ 6 years after declaring bankruptcy, Toys R Us will return with 24 stores across the US
▼ + stars: | 2023-09-30 | by ( Sebastian Cahill | ) www.businessinsider.com time to read: +2 min

Toys R Us, which went bankrupt years ago, will open up to 24 stores in the US. It was the first big-box toy store ever created, according to History — and a far cry from other toy stores at the time. Using their advertisements, celebrity collaborations, and their mascot Geoffrey the Giraffe, Toys R Us sold thousands of toys like Mr. Its jingle, "I don't want to grow up, I'm a Toys R Us kid. There's a million toys at Toys R Us that I can play with," was the soundtrack for kids from the 1980s to the early 2000s.

Persons: —, Charles Lazarus, Geoffrey the, There's, Yehuda Shmidman Organizations: Service, WHP Locations: United States

☆ Toys R Us is planning a brick-and-mortar comeback in the U.S., with up to 24 new flagship stores
▼ + stars: | 2023-09-29 | by ( Laya Neelakandan | ) www.cnbc.com time to read: +3 min

Toys R Us is plotting a bold comeback in the U.S., as it plans to expand its brick-and-mortar presence with as many as 24 new flagship stores and a separate rollout at airports and on cruise ships starting this holiday season. Toys R Us aims to start opening the up to two dozen flagship stores as early as next year in partnership with Go! Toys R Us filed for bankruptcy in 2017, though it could not come out of it on its own, pushing it into liquidation. In summer 2021, WHP announced a rollout of more than 400 new Toys R Us stores at Macy's locations across the country. WHP told CNBC the new flagship stores will be modeled after the American Dream location with "immersive" shopping experiences.

Persons: WHP, Yehuda Shmidman, Shmidman Organizations: WHP Global, Go, Retail, Dallas, Fort Worth International, Tru, CNBC, Duty Locations: U.S, New Jersey, Dallas

☆ Toys 'R' US to open stores across US, including airports and cruise ships
▼ + stars: | 2023-09-29 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

New York CNN —Toys “R” Us stores are making another comeback — this time it’s at airports and cruise ships. WHP Global, the toy store’s parent company, announced an expansion of up to 24 flagship stores, as well as opening stores at airports and cruise ships. The stores for the cruise industry will sell cruise-themed merchandise, though Toys “R” Us did not specify on which cruise lines or where the stores will open. The 24 flagship locations will join the 452 Toys “R” Us shops that are currently open in Macy’s stores across the country. In 2021, WHP Global acquired Toys “R” Us from Tru Kids Inc., which bought the failed brand in a 2018 liquidation sale.

Persons: WHP Global, ”, Yehuda Shmidman Organizations: New, New York CNN, Dallas Fort Worth International, Duty, WHP, Go, WHP Global, Tru Kids Inc, Tru, Covid Locations: New York, New Jersey, Texas

☆ Express CEO Tim Baxter resigns, replaced by former Tysons Foods exec Stewart Glendinning
▼ + stars: | 2023-09-09 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +3 min

CNN —Former Tyson Foods executive Stewart Glendinning will be the new CEO of clothing company Express, replacing Timothy Baxter, effective September 15, the company announced. “He is a highly accomplished executive who will bring fresh thinking to the Company and our strategies for profitable growth. Baxter’s resignation was announced one day after Express released its second-quarter results, with net sales of its Express brand and its lifestyle line UpWest decreasing 15% compared to last year. Express affirmed Baxter’s departure was not related to the company’s financial position. Baxter, who spent more than 11 years with Macy’s, joined Express in June 2019.

Persons: Stewart Glendinning, Timothy Baxter, ” Mylle Mangum, Stewart, Glendinning, Baxter’s, Neil Saunders, Baxter, Macy’s Organizations: CNN, Tyson Foods, Express, Express Board, Company, New York Stock, ” Express, “ Express, WHP, NYSE, “, VF Corporation Locations: womenswear

☆ Babies R Us opens first store since liquidation
▼ + stars: | 2023-07-20 | by ( Courtney Reagan | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBabies R Us opens first store since liquidationRoughly five years after Toys R Us and Babies R Us liquidated, brand management firm WHP Global has partnered with American Dream Mall owner Triple Five Group to open the new flagship Babies R Us store in the East Rutherford, New Jersey, shopping complex. The brand is the same, but the store is more experiential with a stroller test track, a car seat demo, registry consultations, and a new learning center. CNBC's Courtney Reagan reports on the future of Babies R Us, its plans for a national rollout, and how the company expects to take market share from the Buy Buy Baby liquidation.

Persons: CNBC's Courtney Reagan Organizations: WHP Global, Triple Five Group Locations: East Rutherford , New Jersey

☆ Babies R Us makes a comeback with new US flagship store
▼ + stars: | 2023-07-18 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +3 min

CNN —First came Toys R Us’ roller coaster revival, and now Babies R Us is experiencing its own rebirth, too. Babies R Us, which went out of business in tandem with its parent company, Toys R Us, in 2018, is opening its new US flagship store on Wednesday at the American Dream Mall in New Jersey. Tru Kids had bought Toys R Us (which also owned Babies R Us) in a 2018 liquidation sale and had attempted to resurrect the toy store chain, opening two locations in New Jersey and Texas in late 2019. It opened a new 20,000 square foot Toys R Us flagship store, also at the American Dream Mall, in December 2021. He said Babies R Us’ comeback will “mimic” that of Toys R Us: “Expect the same ambitious rollout,” said Shmidman, adding that WHP is looking at taking Babies R Us nationwide with a similar partnership to Macy’s-Toys R Us.

Persons: CNN —, Yehuda Shmidman, ”, Jarrett Birnbaum, reemergence, –, Shmidman, “ Organizations: CNN, US, WHP, Tru, Macy’s, Bed Locations: New Jersey, Texas

☆ Bonobos co-founder Andy Dunn returns as brand advisor after Walmart sale
▼ + stars: | 2023-06-16 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

Bonobos co-founder Andy Dunn is returning to the retailer as brand advisor as the company looks to get back to its roots after it was sold by Walmart earlier this year, Bonobos and new parent company WHP Global announced Friday. WHP Global and Express Inc., which runs the Express brand, bought Bonobos from Walmart in a $75 million deal that was announced in April and closed last month. Walmart originally bought Bonobos in 2017 for $310 million while it was working to grow its online presence under former e-commerce president Marc Lore. Under WHP Global, Bonobos can expand internationally, he said. While Walmart sold Bonobos for a significant discount compared to what it paid, the acquisition wasn't necessarily a losing one for Walmart.

Persons: Bonobos, Andy Dunn, Dunn, Yehuda Shmidman, John Hutchison, Tim Baxter, Marc Lore, Shmidman, WHP, I've, That's Organizations: Walmart, WHP Global, Express Inc, WHP, CNBC, Walmart U.S Locations: U.S, Dubai, Hong Kong, he'll

☆ Walmart gobbled up and spit out e-commerce brands like Bonobos and Moosejaw. Here's what happened to the retailer's jilted exes.
▼ + stars: | 2023-06-03 | by ( Ben Tobin | ) www.businessinsider.com time to read: +5 min

Walmart has sold three digital companies — Moosejaw, Bonobos, and Eloquii — this year. In the past few months, Walmart announced it was selling outdoor recreation apparel and gear company Moosejaw, upscale e-commerce apparel company Bonobos, and plus-size clothing company Eloquii. Under Lore, despite big revenue growth, the Walmart e-commerce division incurred major losses, sometimes annually upwards of $1 billion. Here's a look at each of the companies Walmart has offloaded this year. Bonobos, founded in 2007, attracts young, urban customers with its slim-fitting pants, shirts, jackets, and suits.

Persons: Marc Lore, —, Lore, Doug McMillon, Eoin Comerford, Bebeto Matthews, Ben Tobin Organizations: Walmart, Service, Privacy, Lore's, Dick's Sporting Goods, Moosejaw Walmart, Bonobos Walmart, Bonobos, Bebeto Matthews Walmart, WHP Global, Express, FullBeauty Brands Locations: Arkansas, Bentonville , Arkansas, Michigan, Walmart's, New York

☆ Where Walmart's jilted exes are now: what happened to the e-commerce brands it gobbled up and spit out like Bonobos and Moosejaw
▼ + stars: | 2023-04-28 | by ( Ben Tobin | ) www.businessinsider.com time to read: +5 min

Walmart has sold three digital companies — Moosejaw, Bonobos, and Eloquii — this year. In the past couple of months, Walmart announced it was selling outdoor recreation apparel and gear company Moosejaw, upscale e-commerce apparel company Bonobos, and plus-size clothing company Eloquii. Under Lore, despite big revenue growth, the Walmart e-commerce division incurred major losses, sometimes annually upwards of $1 billion. Recently, Walmart's e-commerce goals have shifted. Here's a look at each of the companies Walmart has offloaded this year.

☆ Walmart offloads second e-fashion brand in days with focus on margins
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: +1 min

April 21 (Reuters) - Walmart Inc (WMT.N) is selling plus-size fashion brand Eloquii Inc just over a week after it agreed to offload menswear label Bonobos, underscoring an effort to improve margins by narrowing focus and building on alternative revenue streams. The buyer, FullBeauty Brands, did not disclose the size of the deal in its statement on Friday. Walmart acquired Eloquii in 2018 for a reported $100 million in its push to appeal to younger shoppers through a range of online brands and better position itself against e-commerce giant Amazon.com Inc (AMZN.O). Walmart has been sharpening its focus on ramping up its businesses including advertising and delivery, to diversify its revenue streams and boost margins as inflationary pressures on consumer spending weigh on the retailer. Reporting by Deborah Sophia in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

☆ Walmart sells plus-size clothing brand Eloquii, offloading its third digital brand this year
▼ + stars: | 2023-04-21 | by ( Courtney Reagan | ) www.cnbc.com time to read: +3 min

Walmart is selling online apparel brand Eloquii to FullBeauty Brands, marking the retailer's third divestiture of a direct-to-consumer brand this year. The retailer bought Eloquii in 2018 for a reported $100 million, one of numerous digital apparel brands with niche and loyal consumer bases. Fogarty plans for Eloquii to be an anchor in what he calls FullBeauty Brands' "digital mall." After acquiring Eloquii, Walmart created a new brand of inclusive-sized apparel, which the retailer will continue to sell after the divestiture. Walmart's online sales now make up 13% of total annual sales, as of its most recent fiscal year-end, up from 5% in 2019.

☆ Walmart’s US chief marketing officer stepping down as retailer warns of tough year
▼ + stars: | 2023-04-15 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

New York CNN —Walmart’s chief merchandising officer for its US operations is stepping down from the job as the retailer faces a tougher year ahead, an internal memo shared to US associates Friday said. In a memo viewed by CNN Business, Walmart U.S. CEO John Furner said Redfield wants to spend more time with his family. Redfield held his position at the retailer for a little more than a year, beginning in January 2022. Its strong holiday sales were fueled by groceries. “There are merchants, and then there’s our Chief Merchandising Officer Charles Redfield,” CEO John Furner said in a memo viewed by CNN Business.

☆ Stocks making the biggest moves before the bell: JPMorgan Chase, Wells Fargo, PNC, Lucid, Express & more
▼ + stars: | 2023-04-14 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

JPMorgan Chase reported revenue of $39.34 billion, beating the $36.19 billion estimates for analyst polled by Refinitiv. Wells Fargo — The bank added 3.1% after beating Wall Street expectations when reporting earnings. The company reported revenue at $20.73 billion, which is higher than the $20.08 expected by Wall Street. PNC — Shares rose 1.3% after the bank reported first-quarter earnings. UnitedHealth – UnitedHealth shares rose slightly after the health insurance provider beat Wall Street's estimates on the top and bottom lines and lifted its profit outlook for 2023.

☆ Walmart Selling Bonobos for $75 Million to Express, WHP
▼ + stars: | 2023-04-13 | by ( Sabela Ojea | ) www.wsj.com time to read: 1 min

Bonobos started out as an online brand in 2007 and later opened more than 60 stores where consumers could try on clothes. Walmart Inc. is selling Bonobos Inc. for $75 million, a fraction of what it paid for the menswear brand and the latest sign the big-box retailer is unwinding some of its e-commerce plays. Walmart is selling Bonobos to the fashion retailer Express Inc. and the management firm WHP Global, the companies said Thursday. WHP Global will buy Bonobos’s brand for $50 million, while Express will acquire Bonobos’s operating assets and assume the related liabilities of the business for $25 million.

☆ Walmart sells Bonobos to WHP Global and Express in $75 million deal
▼ + stars: | 2023-04-13 | by ( Gabrielle Fonrouge | ) www.cnbc.com time to read: +3 min

Walmart has sold menswear brand Bonobos to brand management firm WHP Global and Express in a $75 million deal announced Thursday. WHP, which took a 60% stake in Express in December, will acquire the Bonobos brand for $50 million, the company said in a news release. In a statement, a Walmart spokesperson said the company decided "it's the right time to sell Bonobos" after nearly six years. Last February, Bonobos launched Bonobos Fielder – a more affordable riff on the original brand that sold athleisure on its website, Walmart.com and select Walmart stores. Bonobos CEO John Hutchinson will become brand president of Bonobos and report to Baxter after the deal closes.

A shopping cart sits in the parking lot at a Babies "R" Us store on January 24, 2018 in Chicago, Illinois. Babies R Us is trying to make a comeback. WHP Global, a brand management firm, owns the retailer's parent company, Tru Kids. "Our plan to open Babies R Us at American Dream in the coming months is a huge milestone in the return of Babies R Us to the U.S.A., and it sets the stage for a national rollout of Babies R Us in the future," Shmidman said. American Dream, which has had its own struggles, is located near MetLife Stadium, about 10 miles outside New York City.

☆ Stocks making the biggest moves premarket: Ciena, GameStop, Rent The Runway and others
▼ + stars: | 2022-12-08 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Ciena earned an adjusted 61 cents per share for its latest quarter, compared with a consensus estimate of 8 cents. GameStop (GME) – GameStop reported a wider-than-expected quarterly loss and sales that fell short of predictions. Rent The Runway (RENT) – Rent The Runway surged 16.9% in the premarket after its quarterly revenue came in well above Wall Street forecasts and the fashion rental company issued an upbeat sales forecast. Kinder Morgan shares gained 2.1% in premarket trading. Separately, Express announced a wider-than-expected quarterly loss and lower-than-expected revenue in what its management said was a tougher quarter than it had anticipated.

☆ Stocks making the biggest moves midday: GameStop, Dexcom, Cano Health and more
▼ + stars: | 2022-12-08 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Traders work on the trading floor at the New York Stock Exchange (NYSE) below GameStop signage in New York, August 8, 2022. Check out the companies making headlines in midday trading Thursday. GameStop — Shares of the video game retailer and meme stock jumped more than 8% even after the company reported a wider-than-expected loss for the third quarter. The enterprise artificial intelligence software company reported a loss of 11 cents per share on revenue of $62.4 million. Analysts polled by Refinitiv were forecasting a loss of 16 cents per share on revenue of $60.9 million.

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