Express is looking to go big, connecting with WHP Global with an eye toward consolidating the fashion space — and Wall Street liked the new direction, which also came with an infusion of new cash.
industry consolidation that we know is happening already and we anticipate will continue to happen throughout the next year,” Baxter said. “Ultimately, we’re looking for brands that will provide the most synergies and the biggest opportunities for us to drive both top- and bottom-line growth. But we will be focused on fashion brands. That’s clearly where our expertise lies — onThe Express brand will continue to operate as an independent business in the U.S.
“When we think about the amount of fashion brands out there [for sale], there are a lot,” he said. “Historically there have always been opportunities in fashion here and there. But given the environment today, it’s increased for sure, the amount of opportunities. You can imagine the types of fashion brands that are out there that we’re very excited to pursue.
In the meantime, Express — like many other retailers — is struggling in what seems to be a tough holiday season. The CEO also acknowledged “some misses in our women’s business” and said the assortments were being realigned.
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