Home / Knowledge / News / Apparel/Garments / Barington Group buys substantial stake in apparel company

Barington Group buys substantial stake in apparel company

21
Aug '06
The Barington Group has filed a Schedule 13D with the Securities and Exchange Commission disclosing that it now collectively holds approximately 5.6% of the common stock of The Warnaco Group Inc, a New York based apparel company that owns and licenses a portfolio of highly recognized brand names, including Speedo, Calvin Klein, Chaps, Nautica, JLO and Ocean Pacific.

The Barington Group ('Barington') consists of Barington Capital Group LP, Ramius Capital Group, LLC and various other affiliated entities.

In its Schedule 13D filing with the SEC, Barington stated that it believes Warnaco to be undervalued and that it wishes to engage in discussions with the company's senior management concerning measures that it believes will improve shareholder value for the benefit of the company's stockholders.

In its filing, Barington said such measures include, but are not limited to:

-- the improvement in execution by the company's senior management team and oversight provided by its Board of Directors in light of what Barington believes to be a string of recent operating disappointments stemming from (a) the recently announced financial restatement caused by accounting issues at the company's Chaps division and swimwear segment, and the resulting Securities and Exchange Commission informal inquiry, (b) disruptions and excess costs associated with poor implementation of SAP at the company's swimwear segment, and (c) missed revenue growth and gross margintargets;


Must ReadView All

Fibre2Fashion: 21 years of serving textile-apparel-fashion industry

Textiles | On 17th Apr 2021

Fibre2Fashion: 21 years of serving textile-apparel-fashion industry

Fibre2Fashion, the online platform for the global...

Pic: Shutterstock

Textiles | On 17th Apr 2021

China's economy grows 18.3% in Q1 2021

Powered by a strong domestic and foreign demand, China's economy grew ...

Pic: Shutterstock

Retail | On 17th Apr 2021

US retail sales saw strong rebound in March: NRF

As government cheques fattened consumers’ bank accounts and more...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Tech in fashion industry has hit acceleration button

International apparel brands, Head honchos

International apparel brands
Head honchos

Launched first collection at onset of Covid

Textile Industry, Head honchos

Textile Industry
Head honchos

Good tidings expected for textile industry

Sandra Sequeira,

Sandra Sequeira

The JD Institute of Fashion Technology is the educational division of JD...

Shambhu Nath Jha,

Shambhu Nath Jha

Leading research and consulting firm Fact.MR recently launched a report on ...

Gus Bartholomew,

Gus Bartholomew

<b>Gus Bartholomew</b>, co-founder of SupplyCompass, explains to <b>Subir...

Ian Russell, Pireta

Ian Russell
Pireta

UK-based Pireta has developed a unique free-form process to add durable,...

Kevin Young & Tom Lucas, Web Industries

Kevin Young & Tom Lucas
Web Industries

Web Industries is a precision formatter of nonwoven materials used in baby ...

Giulio Cesareo, Directa Plus

Giulio Cesareo
Directa Plus

UK-based Directa Plus is one of the largest producers and suppliers...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Anjali Bhaskar has an experience of 12 years in the fashion industry. She...

Sandeep Gonsalves & Sarah Gonsalves, Sarah & Sandeep

Sandeep Gonsalves & Sarah Gonsalves
Sarah & Sandeep

Established in 2012, Sarah &amp; Sandeep is a luxury menswear label...

Seema Gujral, Label Seema Gujral

Seema Gujral
Label Seema Gujral

<b>Seema Gujral</b>'s designs for her eponymous label revolve around...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search