Sycamore Partners is digging in the fashion discount corner. The U.S. fund, which specialises in struggling retail assets, said on Friday that it could make a cash offer for hard-pressed British fashion firm Ted Baker , triggering a 19% rally in its stock. For investors, the approach is a way of escaping the clutches of founder and former Chief Executive Ray Kelvin, whose overenthusiastic hugging habits led to his resignation in 2019 and a share price rout. Ted Baker shares are worth less than a tenth of their value before the scandal erupted.
and a share price rout. Ted Baker shares are worth less than a tenth of their value before the scandal erupted.
For Sycamore, it looks like an easy win. Assuming the U.S. fund pays 230 million pounds, a roughly 30% premium to Thursday’s market value, it could make a chunky 30% internal rate of return by simply growing revenue at 5% a year for five years and hiking the EBITDA margin to 12%, Breakingviews calculations show. That suggests the retailer may be worth more.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Four Reported Possible Teams for Baker Mayfield if Browns Move OnIf Cleveland makes a move at quarterback, these are the squads who may be interested.
Lire la suite »
Report: Browns Want ‘Adult’ at QB, Could Trade Baker MayfieldThe four-year Cleveland starter could be on the move, regardless of what happens with Deshaun Watson.
Lire la suite »
Tucson baker Don Guerra named a finalist for highest honor in the foodiverseFor Star subscribers: If he wins, Don Guerra will be the first Tucsonan to take home a James Beard award since the owner of El Guerro Canelo landed the honor in 2018.
Lire la suite »
Baker Mayfield Could Be Traded To These 3 Teams | The Draft NetworkBaker Mayfield has requested a trade. The Browns may or may not oblige, but if they do ship him off, it should be to one of these 3 teams. FrontOffice33 | Browns
Lire la suite »