: Express shares soar 23% after deal to buy Bonobos from Walmart at a big discount

by | Apr 13, 2023 | Stock Market

Shares of apparel retailer Express Inc. soared more than 20% in extended trading Thursday after announcing a deal to buy menswear brand Bonobos from Walmart Inc. for a fraction of what the mega-retailer paid to acquire it in 2017. Express EXPR and brand management firm WHP Global announced late Thursday they are buying Bonobos for a combined purchase price of $75 million. Walmart WMT bought Bonobos for $310 million in 2017 as part of a major effort to acquire buzzy online brands to boost its e-commerce business. Walmart’s…

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