NEW YORK — Hartmarx Corp signed off on a 3 million share buy back to help its beleaugured stock. The repurchase, which would account for 8 percent of the stock’s outstanding shares, will be made on the open market or in privately negotiated transactions.
The Chicago-based company, which makes and markets better tailored brands as well as a mix of golf and casual sportwear labels, has been battered by retail consolidation and softness in the mid-tier tailored clothing market. Its stock price, at $4.98 in mid-day trading last Tuesday, has fallen more than 40 percent from its 52-week high due to weak earnings.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"