Perry Ellis International Inc. led all components of the WWD Global Stock Tracker today as shares of the company gained on a report of a possible sale of the firm.
Shares finished the day at $20.73, up 7.9 percent. The Deal said that the Miami-based sportswear firm might be being prepared for a sale by the Feldenkreis family, which holds about one-sixth of its common shares.
Activist investors Legion Partners last month took a 6 percent stake in the firm and said it was in discussions with management about improving its balance sheet and taking other steps, such as separating the roles of chairman and chief executive officer, both of which are currently held by George Feldenkreis. Oscar Feldenkreis, George’s son, is vice chairman, president and chief operating officer. Calls seeking comment from the firm weren’t returned.
The WWD tracker gained ground for the second consecutive day after five straight sessions with declines, ending at 97.69, up 0.4 percent, from its 97.33 close on Tuesday.
Among other leaders on the Tracker were American Apparel Inc., up 7.3 percent to 92 cents; Anta Sports Products Ltd., up 5.2 percent to 14.24 Hong Kong dollars, or $1.84 at current exchange; Ann Inc., up 3.6 percent to $38.04, and Lululemon Athletica Inc. and Tumi Holdings Inc., both of which rose 3.3 percent, to $39.97 and $22.25, respectively.
Shares of Ralph Lauren Corp. rose 0.2 percent to $156.88 after the New York-based company reported a decline in first-quarter net income of 10.5 percent, less than Wall Street analysts, on average, had expected.
Among the firms monitored by WWD losing the most ground were Express Inc., down 4 percent to $14.84; Yoox.com, down 3.6 percent to 17.45 euros, or $23.42; Pandora A/S, down 3.1 percent to 375.50 Danish kroner, or $67.60, Safilo Group SpA, down 3 percent to 14.98 euros, or $20.11, and Debenhams Plc and Hugo Boss AG, both of which were off 2 percent. Debenhams closed at 66 pence, or $1.11, while Boss concluded the session at 103.10 euros, or $138.38.
Alberta Ferretti's "Rainbow Week" sweaters are back. The designer closed her #MFW show with a few day-of-the-week sweaters, which first debuted on the catwalk last January as part of the pre-fall 2017 collection. #wwdfashion (📷: @delphineachard)