Express Looks More Like Retail Beta Than Alpha
Jun. 12, 2014, 5:40 PM
- In a new 13D, Sycamore Partners discloses it has a 9.9% Express (EXPR) stake, and says it would like the board's help in performing "due diligence to determine a definitive valuation of [Express] in order to submit a binding, fully financed proposal to acquire all of the remaining common stock of [Express] not owned by Sycamore."
- Sycamore has already taken a large stake in fellow retailer Aeropostale (ARO), and struck a deal last year to acquire The Jones Group.
- ARO +4.8% AH.