By
Reuters
Reuters
Published
Dec 16, 2010
Dec 16, 2010
Aeropostale gears up for takeover defense
By
Reuters
Reuters
Published
Dec 16, 2010
Dec 16, 2010
Dec 16 - U.S. teen clothing retailer Aeropostale Inc has hired Barclays Capital as a strategic adviser to shore up its takeover defenses in the event it got an approach from private equity firms, the New York Post reported, citing a person close to the situation.
Aeropostale's flagship store in Times Square |
"Management is in this for the long haul, and they want the company to stay public," the person told The Post.
Long a high-flyer among teen retailers -- with fickle customers clamoring for ever-changing fashions -- Aeropostale has recently hit a rough patch, evidenced by a 1 percent decline in November same-store sales after a 2 percent decline in October.
Aeropostale, which operates 885 stores in 49 states, was not available to comment.
(Reporting by Sakthi Prasad in Bangalore; Editing by Dan Lalor)
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