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Guess? And WHP Global Closes Acquisition Of Rag & Bone
(RTTNews) - Guess?, Inc. (GES) and global brand management firm WHP Global announced Wednesday that they have completed the previously announced acquisition of New York based fashion brand rag & bone.
Under the terms of the transaction, Guess? has contributed $57.1 million towards the purchase of rag & bone, in addition to contributions from WHP Global.
As a result, Guess? now owns all of the rag & bone operating assets, and Guess? and WHP Global jointly own the rag & bone intellectual property.
In connection with the closing of the acquisition, Guess? has entered into an agreement with the lenders of its existing $150 million asset-based revolving credit facility to increase the borrowing capacity under the facility by $50 million to a total of $200 million.
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Guess?, Inc. (GES) announced Monday that Dennis Secor has been appointed Interim Chief Financial Officer, effective August 26, 2024. Secor is a proven finance leader with deep knowledge of the apparel industry, and has previously served as Guess? CFO from 2006 to 2012.
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Japan Stock Market May See Renewed Support
The Japan stock market on Tuesday halted the two-day winning streak in which it had advanced almost 200 points or 0.5 percent. The Nikkei 225 now rests just beneath the 42,400-point plateau although it's expected to open in the green on Wednesday.
The global forecast for the Asian markets is cautiously optimistic, with tech shares likely to rise ahead of key earnings news later in the day. The European markets were down and the U.S. bourses were up and the Asian markets figures to follow the latter lead.
The Nikkei finished sharply lower on Tuesday following losses from the financial shares, technology stocks and automobile producers.
For the day, the index slumped 413.42 points or 0.97 percent to finish at 42,394.40 after trading between 42,137.62 and 42,703.27.
Among the actives, Nissan Motor plummeted 6.25 percent, while Mazda Motor added 0.40 percent, Toyota Motor retreated 1.41 percent, Honda Motor tumbled 1.71 percent, Softbank Group dropped 0.91 percent, Mitsubishi UFJ Financial sank 0.72 percent, Mizuho Financial shed 0.45 percent, Sumitomo Mitsui Financial skidded 1.01 percent, Mitsubishi Electric tumbled 1.91 percent, Sony Group declined 1.87 percent, Panasonic Holdings slumped 1.11 percent and Hitachi contracted 1.63 percent.
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Rebound Tipped For South Korea Stock Market
The South Korea stock market on Tuesday ended the three-day winning streak in which it had improved almost 80 points or 2.6 percent. The KOSPI now sits just shy of the 3,180-point plateau although it may reverse those losses on Wednesday.
The global forecast for the Asian markets is cautiously optimistic, with tech shares likely to rise ahead of key earnings news later in the day. The European markets were down and the U.S. bourses were up and the Asian markets figures to follow the latter lead.
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Australia Construction Work Data Due On Wednesday
Australia will on Wednesday see Q2 numbers for construction work done, highlighting a light day for Asia-Pacific economic activity.
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U.S. Dollar Falls Against Majors
The U.S. dollar dropped against its major counterparts in the New York session on Tuesday.
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vor 2Std 32 Minuten
TSX Modestly Higher As Financials, Mining Stocks Move Up
Despite concerns about global trade, and political uncertainty in Europe, the Canadian market is modestly higher Tuesday afternoon, supported by gains in materials, industrials and financials sectors.
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vor 4Std 54 Minuten
Swiss Market Settles Weak
After opening with a big negative gap Tuesday morning, the Swiss market gradually recovered some lost ground, and even managed a brief spell in positive territory midway through the session, but failed to sustain momentum and finally ended the day's session in the red.
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European Stocks Close Lower On Political Concerns, Tariff Worries
European stocks closed weak on Tuesday, weighed down by political uncertainty in France, and lingering concerns about tariffs and their impact on global economic growth.
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