purchase of Walmart's Bonobos

Express

13/04/2023 22:09

** Shares of Express Inc  EXPR.N  up ~17% at $0.79 in after the
bell trading on Thur after the apparel retailer and brand
management firm WHP Global said they were buying Walmart's
 WMT.N  Bonobos mens wear unit
    ** Cos said they were acquiring Bonobos for a combined $75
mln. WMT struck a deal to buy the co in 2017 for $310 mln cash
    ** EXPR is buying Bonobos operating assets for $25 mln and
WHP is buying Bonobos brand for $50 mln, the cos said in a press
release
    ** During Thur's trading session, EXPR gained 0.5% to close
at $0.67, leaving it down ~35% YTD 
    ** Shares of WMT barely changed in after the bell trading
down 0.1% at $149.30 after closing at $149.49  
    







 (Reporting by Noel Randewich)
 ((noel.randewich@tr.com; Twitter: @randewich;))