1/8/2023 0 Comments Jcpenney athletic xversion![]() The companies would also have all private apparel manufactured by the same in-house label, the source said. Simon and Brookfield have proposed that a single management team would operate JCPenney and Kohl’s while merging the information technology systems so that one unit is in charge of the chains, according to a source. ![]() Kohl’s put itself up for sale earlier this year after activist investors agitated for a change in the company’s management. Goldman Sachs has been tapped to lead a potential sales process. Private equity giants Sycamore Partners and Leonard Green & Partners as well as Saks Fifth Avenue’s Canada-based parent company Hudson’s Bay are reportedly interested in acquiring Kohl’s. ![]() Kohl’s, based in Wisconsin, put itself up for sale earlier this year at the urging of activist investors Macellum and Engine Capital, who were unhappy with the direction of the company. Bloomberg via Getty Images Under the terms of the deal, JCPenney’s corporate parents would combine the behind-the-scenes operations of the two brands, though the stores will continue to operate under their current names. David Simon, the CEO of Indiana-based Simon Property Group, which owns JCPenney, has made an offer to buy retailer Kohl’s at $68 a share, The Post has learned. The Post has reached out to Simon Property Group and Brookfield Asset Management seeking comment. The bidders’ plan for Kohl’s is to slash costs by $1 billion over the next three years, according to the source. One well-placed source told The Post that the plan is for JCPenney’s corporate parents to continue to maintain two separate brands while streamlining operations and cutting costs. Kohl’s shares on Monday closed at $60.39, up 5.3 percent. Under the proposal, shopping-mall giant Simon Property and Canada-based Brookfield Asset Management - which together scooped JCPenney out of bankruptcy in December 2020 - have offered to acquired Kohl’s for $68 a share, according to sources close to the talks. The owners of JCPenney have made an offer to acquire archrival Kohl’s in a deal that could value the department-store chain at upwards of $8.6 billion, The Post has learned. Vitamin Shoppe owner may look to renegotiate Kohl’s $8B price: source Kohl’s ends buyout talks with Vitamin Shoppe owner Hedge fund slams Kohl’s CEO, chairman over poor results, seeks removal ![]() Best gifts from Kohl’s in 2022: 20 Christmas gift ideas for everyone Moreover, several disadvantages weigh the company down, including persistent turnover in top leadership, declines in the department store sector and its location in malls. Penney's Xersion line is therefore playing in a crowded space. We can expect many new brands to enter the activewear space, creating competition and noise." "Performance running and hiking will lead the footwear categories, while sweatshirts and active bottoms will lead activewear. "I expect the athletic footwear and activewear markets will grow sales in the low single-digits in 2021 – above 2020 levels, but still below 2019," Powell said in the emailed report. Athleisure and activewear, especially for women, have been rare bright spots in an otherwise troubled apparel sector challenged further by the pandemic.Īctivewear's strengths are set to continue this year, according to a report Friday from The NPD Group's Vice President and Senior Industry Advisor of Sports, Matt Powell. Penney's more affordable brand uses an exclusive fabric it calls Everair that it says is breathable and moisture-wicking. The performance aspect of this version of Xersion follows the approach of Lululemon, which has long boasted its patented textiles. Soltau left abruptly at the end of December after two years on the job, as new owners Simon Property Group and Brookfield Asset Management took over. Penney may have had an advantage in Jill Soltau's leadership, widely seen as a talented merchandiser. Target has pursued a similar strategy to elevate private brands in recent years to great effect. Penney has been busy putting the finishing touches on a private label push even as it tumbled into bankruptcy and was bought by two of its mall landlords last year.
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