Authentic Brands Group has inked a deal for Reebok to be sold via nearly 3,000 JD Sports stores worldwide, the latest step in the US group’s organisational overhaul of the sport brand before its purchase’s completion.
Frasers Group was reportedly racing to try to do a deal on Debenhams at the weekend, but reports also suggested that US-based Barneys owner Authentic Brands has both Debenhams and Arcadia in its sights.
Venerable US retailer Lord & Taylor filed for Chapter 11 bankruptcy on Sunday, becoming the latest in a growing list of storied names to do so amid the ongoing coronavirus outbreak that has crippled the retail sector.
The footwear and accessories maker reported a fourth-quarter loss of $7.6 million on Tuesday and announced the closure of its North American retail locations in response to the ongoing Covid-19 pandemic.
In a call with investors at the end of last month, Carlos Alberini laid out his strategy for Guess, revealing plans to accelerate the brand's denim business, as well as its accessories line and Marciano.