US: Limited sells stake in namesake chain for $32m
Limited Brands has sold its remaining 25% stake in Limited Stores LLC, which operates The Limited retail locations for $32m.
In 2007, Limited Brands sold a 75% stake in Limited Stores to an affiliate of Sun Capital Partners, a private investment firm that now owns 100% of Limited Stores. Limited Stores has more than 220 mall locations throughout the United States.
"This sale supports our focus on intimate apparel, personal care and beauty products," said Leslie H Wexner, chairman and CEO of Limited Brands. "We wish our long-time partners at Limited Stores continued success... this transition further enables both teams to win."
"This buyback is more than a financial transaction. It is recognition of the successful efforts over the last three years to 'restart' Limited Stores, as well as a demonstration of the confidence Sun Capital has in our future," added Linda I Heasley, CEO of Limited Stores.
"And it's a great future. We continue to have a strong balance sheet after completing this transaction and are opening 10 stores this year and planning an additional 20 in 2011."
The following is a general roundup of US apparel and shoe chains' November 2010 sales results. The list will be updated as new results become available....
The following is a general roundup of US apparel and shoe chains' October 2010 sales results. The list will be updated as new results become available. ...
- Why do modern robotics elude sportswear makers?
- Traditional financing is a misfit for fast fashion
- Mexico makers bullish on Trump's proposed tariffs
- How would end of NAFTA affect US apparel industry?
- Bagir CEO says suit-maker is back on track
- Bagir exports first trousers for H&M from Ethiopia
- US Q3 in brief - G-III Apparel, Express
- Fruit of the Loom CEO Medlin dies suddenly
- Throwaway fast fashion model needs re-think
- Crystal expands empowerment project to male staff
- Outdoor performance apparel 2016: A broader perspective
- Global market review of lingerie – forecasts to 2022
- Global apparel markets: product developments and innovations, October 2016
- Footwear Top 5 Emerging Markets Industry Guide_2016
- REPORT BUNDLE: Africa-Med, Southeast Asia and Central America strategic sourcing pack