Hat retailer Lids, backed by rapper Meek Mill, opens in Australia
The well-known US specialty retailer sells more than 30 million hats a year and is backed by some high-profile names, including rapper Meek Mill.
Source: afr.com
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Genesco activist looks to take over board, blasts acquisition strategy
Dive Brief: Citing "chronic underperformance," an activist investor is looking to replace the majority of Genesco's board with seven directors of its choosing. In an 18-page letter, leaders of Legion Partners, which owns 5.6% of Genesco, questioned the company's conglomerate structure, which in their view has resulted in "a string of poor acquisition decisions that has led to an increasingly bloated cost structure and corporate overhead." Genesco said it would review the seven directors nominated by Legion Partners. In a statement, the company disagreed with many of Legion's assertions while...
Source: retaildive.com