AUSTRALIA: Pacific Brands closes Streetwear buy
Pacific Brands has closed the purchase of Globe International's Streetwear unit.
Pacific paid about A$42m (US$33.45m) for the business, which saw its net profit plummet 86.8% to $471,000 in 2005/06.
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Youth apparel and footwear group Globe International has entered into an agreement for the sale of its skate and snow brand, World Industries, to US-based I.e. distribution....
Clothing and bedding firm Pacific Brands said it is well positioned for full-year earnings growth after a reasonable beginning to the year....
Australian Retailer Pacific Brands has entered into a deal to buy the Australian and New Zealand Streetwear apparel division of Globe International....
Globe International, the maker of boardsports apparel and equipment, has posted a drop in its annual profit and sales, influenced by fragility in the North American market early on in the year....
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