Naked Brand Group, Inc. (NAKD)

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$NAKD Naked Brand jumps 17% on divesture and digital transformation strategy update
https://seekingalpha.com/news/3685081-naked-brand-updates-on-divesture-and-digital-transformation-strategy

Naked Brand jumps 17% on divesture and digital transformation strategy update
Apr. 23, 2021 8:54 AM ETNaked Brand Group Limited (NAKD)By: Manshi Mamtora, CFA

*Naked Brand (NASDAQ:NAKD) expects to sign the definitive agreement for the proposed divestiture of its Bendon brick-and-mortar operations and simultaneously close the transaction on or about Friday, April 30, 2021.

*On January 21, 2021, Naked Brands Group Limited announced its plans to undertake a transformative restructure in which it will dispose of its unprofitable bricks-and-mortar operations in order to focus exclusively on the planned rapid acceleration of its e-commerce business.

*The company will be free to focus its development efforts on the Frederick's of Hollywood online business, as well as strategic acquisitions in the e-commerce space.

*"With available cash of $270M, a clean balance sheet with no debt and a re-invigorated management team and board of directors, I could not be more excited to execute on our business strategy to ultimately drive revenue growth with positive free cash flow. Our Frederick's of Hollywood e-commerce business continues to perform, and we are currently evaluating several synergistic acquisition targets that could position Naked as a strong player in intimate apparel." said Justin Davis-Rice, CEO.

*Shares +17% pre market