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Barington Group buys substantial stake in apparel company
21 Aug '06
2 min read
-- a substantial reduction in equity grants, including stock options and restricted stock, which have averaged 5.0% annually or a staggering 17.6% cumulatively of the company's shares outstanding over the past three and one-half fiscal years;
-- the improvement in gross and EBITDA margins, which currently trail peer averages by approximately 800 and 600 basis points, respectively, through a reduction in SG&A and corporate expenses and better merchandising;
-- the disposition of non-core brands and licenses, especially in underperforming divisions of the Company's intimate apparel and swimwear segments; and
-- the exploration of alternatives, including, without limitation, the possible sale of the company.
Based in New York, Barington Capital Group LP is an investment management firm that primarily invests in undervalued, small and mid-capitalization companies. Barington and its principals are experienced value-added investors who have taken active roles in assisting companies in creating or improving shareholder value.
The Warnaco Group Inc, headquartered in New York, is a leading apparel company engaged in the business of designing, marketing and selling intimate apparel, menswear, jeanswear, swimwear, men's and women's sportswear and accessories.
-- the improvement in gross and EBITDA margins, which currently trail peer averages by approximately 800 and 600 basis points, respectively, through a reduction in SG&A and corporate expenses and better merchandising;
-- the disposition of non-core brands and licenses, especially in underperforming divisions of the Company's intimate apparel and swimwear segments; and
-- the exploration of alternatives, including, without limitation, the possible sale of the company.
Based in New York, Barington Capital Group LP is an investment management firm that primarily invests in undervalued, small and mid-capitalization companies. Barington and its principals are experienced value-added investors who have taken active roles in assisting companies in creating or improving shareholder value.
The Warnaco Group Inc, headquartered in New York, is a leading apparel company engaged in the business of designing, marketing and selling intimate apparel, menswear, jeanswear, swimwear, men's and women's sportswear and accessories.
The Barington Group
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