Iconix Brand Group Inc, known for its apparel labels such as Candie's and Starter, acquired control of the Buffalo David Bitton brand to expand into higher-end brands.Iconix said it paid Buffalo International ULC $76.5 million in cash for a 51 percent stake in the brand."This diversifies them up the chain a little bit... their exposure to the lower-end brands has been disproportionate and (Buffalo) is certainly not a lower-end brand," C.L. King & Associates analyst Steven Marotta said.Under the Buffalo David Bitton brand, the company sells denim, sportswear, activewear and accessories at upscale department stores such as Macy's Inc and Lord & Taylor.
Iconix Brand Group, Inc. (Iconix) is a brand management company engaged in licensing, marketing and providing trend direction for a portfolio of consumer brands. Shares of ICON fell by 0.91% or $-0.22/share to $23.97. In the past year, the shares have traded as low as $14.27 and as high as $24.35. On average, 514861 shares of ICON exchange hands on a given day and today's volume is recorded at 271743.
Macy?s, Inc. (Macy?s) is a retail organization operating stores and Internet Websites under two brands (Macy's and Bloomingdale's) that sell a range of merchandise, including apparel and accessories (men's, women's and children's), cosmetics, home furnishings and other consumer goods in 45 states, the District of Columbia, Guam and Puerto Rico. Shares of M fell by 1.04% or $-0.41/share to $39.10. In the past year, the shares have traded as low as $32.31 and as high as $42.17. On average, 5638880 shares of M exchange hands on a given day and today's volume is recorded at 482015.
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