By Colin Kellaher
Tapestry has struck a deal to sell its Stuart Weitzman shoe brand to footwear seller Caleres for $105 million in cash.
Caleres on Tuesday said the deal adds Stuart Weitzman to a portfolio that includes Famous Footwear, Sam Edelman, Allen Edmonds and Naturalizer.
The St. Louis company said it plans to fund the acquisition, slated to close this summer, through its revolving credit agreement.
Tapestry, the New York owner of Coach and Kate Spade, posted sales of nearly $2.2 billion for its fiscal quarter ended Dec. 28, with Stuart Weitzman accounting for roughly 3%.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
By Colin Kellaher
Tapestry has struck a deal to sell its Stuart Weitzman shoe brand to footwear seller Caleres for $105 million in cash.
Caleres on Tuesday said the deal adds Stuart Weitzman to a portfolio that includes Famous Footwear, Sam Edelman, Allen Edmonds and Naturalizer.
The St. Louis company said it plans to fund the acquisition, slated to close this summer, through its revolving credit agreement.
Tapestry, the New York owner of Coach and Kate Spade, posted sales of nearly $2.2 billion for its fiscal quarter ended Dec. 28, with Stuart Weitzman accounting for roughly 3%.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
February 19, 2025 07:20 ET (12:20 GMT)
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