NEW YORK — The White House Inc. expects to join the ranks of publicly held specialty retailers shortly.
The Glen Burnie, Md.-based retailer of black-and-white apparel for women, last week filed a Form S-1 registration statement with the Securities and Exchange Commission saying it intends to raise $50 million in an initial public offering. It plans to use $11.8 million of the net proceeds to make required distributions to common stockholders and another $1.7?million to fund capital expenditures and pay expenses incurred in connection with the planned relocation of its headquarters and distribution center. The rest of the money is expected to go toward capital expenditures and general corporate purposes, including the opening of new stores and working capital.
The White House has applied for a Nasdaq listing under the symbol WHBK. The IPO will be handled by William Blair & Co., SG Cowen and RBC Capital Markets. The preliminary prospectus didn’t disclose the date of the IPO, the number of shares or their price. That information is expected in later filings.
White House currently operates 96 stores averaging 1,457 square feet and said in its filing it sees the potential for a 400-unit chain. This year, 22 stores are planned, with between 25 and 30 slated for 2004. In fiscal 2002, it generated $3.9 million in net income, about half of it attributable to common shareholders, on a sales increase of 35.2 percent to $67 million. Comparable-store sales have averaged 11.5 percent over the last three years and rose 16.3 percent last year.
Most of its merchandise is marketed under its White?House-Black?Market private brand.
Aeropostale was the last apparel specialty retailer to go through an IPO, raising $225 million in March 2002.
@zacposen's go-to holiday gift? Cookies! "I'll usually bake cookies and send them as a gift," said the designer, who recently released his cookbook "Cooking With Zac: Recipes from Rustic to Refined." Get the recipe for his Brown Butter-Chocolate Chip Cookies via link in bio 🍪🍪🍪 #wwdeye #cookingwithzac
For @monsemaison’s pre-fall 2018 collection, Fernando Garcia and Laura Kim honed in on the brand’s many signatures — men’s wear, which was tweaked and feminized through deconstruction, proportion play and lots of bare shoulders. See the rest of the photos on WWD.com #wwdfashion (📷: George Chinese)
On Friday night, @yohjiyamamotoofficial received the Design for Asia Lifetime Achievement Award in Hong Kong. The 75-year-old designer has been celebrated for many years and is best known for his dark and avant-garde tailoring. “In my long career, in design, architecture, [I’ve been to] so many parties, this is the very first time that I have such a warm feeling, I really appreciate this,” Yamamoto said. #wwdfashion (📷: @dominiquemaitre)
Discovery is collaborating with British pop artist @philipcolbert on a new line of clothing and accessories called Discovery Shark. The collection, which will launch next summer for Shark Week’s 30th anniversary, features a whimsical line of women’s and men’s bomber jackets, sweatshirts, bags and more. #wwdfashion
“I’m always a big champion of a female rapper, and I’m glad to see a new voice that feels unique and authentic that’s coming up, and I think we’re going to see more great things from her,” said @itsjeremyscott about @iamcardib, who performed at @moschino’s Art Basel Miami Beach party last night. #wwdeye (📷: @lexieblacklock)
@janellemonae’s “What’s Your Frequency?” room in @refinery29's #29Rooms made its debut this week at the opening of the Los Angeles art exhibit. “It’s about the ongoing conversation around mass surveillance, the weaponization of technology and cultural uniformity. My space was created so that we can come together and talk about the complexities of our humanity,” said Monáe. #wwdeye (📷: @bucknerphoto)
@pantone announced their Color of the Year 2018: Ultra Violet. Nearly 20 months after the musician Prince’s death, fashion is having a purple moment. Varying shades of purple appeared on spring or fall runways, from @christopherkane to @calvinklein. @gucci’s Alessandro Michele bathed his fall runway in ultra violet-colored light at one point. Pantone 18-3838 is meant to “push the boundaries of what inspires us to look upward and outward to the future.” #wwdnews #wwdfashion (📷: @kukukuba)