Sun Capital Affiliate Acquires Hanna Andersson and Gerber Childrenswear
New York City Childrenswear, LLC, an affiliate of Sun Capital Partners, has acquired Gerber Childrenswear LLC and Hanna Andersson LLC from Kellwood Co. Formerly, non-core business units of Kellwood Co., the two brands will now operate as standalone business units of Childrenswear.
“As a standalone entity, Hanna Andersson will be better able to focus on improving our products and expanding channel opportunities, as well as moving quickly in a challenging retail environment,” stated Philip Iosca, CEO, Hanna Andersson LLC.
Plans for Gerber Childrenswear, an 80-year-old brand with strong, long-term relationships in the mass retail market, are to implement “operating efficiencies, channel expansion opportunities, and grow our core layette business, as well as the Jockey and new Lamaze licenses,” according to Gary F. Simmons, president and CEO, Gerber Childrenswear LLC.
Fisher resigns from Godinger
NEW YORK Mark Fisher has resigned as president and chief marketing officer of Godinger. He will become a partner at International Industrial Development Associates.
Fisher was with Godinger for 15 years, his tasks will be assumed internally.
Charming Shoppes posts better-than-expected 3Q loss
BENSALEM, Pa. Charming Shoppes reported a loss form continuing operations of $23.7 million of 21 cents per diluted share on a non-GAAP basis. The company had projected a diluted loss per share in the range of 35 cents to 37 cents.
Net sales from continuing operations for the thirteen weeks ended Nov. 1 decreased 8% to $553.1 million, compared to net sales from continuing operations of $599.7 million for the thirteen weeks ended Nov. 3, 2007.
Net sales for the company’s retail stores segment were $528.5 million during the quarter, a decrease of 10% compared to $588.1 million during the same period last year. Consolidated comparable-store sales for the company’s retail stores segment decreased 9% during the quarter. The decrease in consolidated comparable-store sales compares favorably to the company’s previous projection for sales declines in the low double digits.