Ultra Rich Turn Vietnam Into a New Hot Spot for Luxury Yachts
That includes investing in a hotel with nearly 600 rooms, acquiring a golf course and buying a superyacht, which has been his dream for two decades.
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Yahoo
an hour ago
- Yahoo
Soho House agrees to go private again in a deal led by hotel giant MCR
NEW YORK (AP) — After a shaky four years on Wall Street, Soho House is ready to go private again. The luxury members club operator has struck a deal with an investor group led by hotel giant MCR, which will buy its outstanding shares for $9 each in cash. Soho House's Executive Chairman Ron Burkle and other big shareholders will roll over their stakes and retain control of the business, per a Monday announcement from the company. The take-private offer implies a total enterprise value of roughly $2.7 billion for Soho House, including debt. The company says it expects to complete the deal by the end of 2025, pending the regulatory greenlight and other closing conditions. If approved, the transaction means Soho House will stop trading on the New York Stock Exchange. Shares of Soho House climbed more than 15% by mid-morning Monday, following news of Soho House signing the agreement. Among other big names to join Soho House's future leadership is actor and now tech investor Ashton Kutcher, who is set to join the company's board following the deal's completion. Tyler Morse, CEO of New York-based MCR, will also join the board as Vice Chairman. In a statement, Morse said that MCR had 'long admired' Soho House and that its investment in the company 'represents a strategic opportunity to combine our operational expertise with one of the most distinctive brands in hospitality.' Soho House CEO Andrew Carnie pointed to the club's growth over the years, and said that returning to private ownership will help the company 'build on this momentum." Soho House's roots date back to 1995, starting with a single club in London opened by founder Nick Jones. But today, the company's footprint includes 46 Soho House locations worldwide, in addition to a handful of coworking spaces, beach clubs and digital platforms. Soho House describes itself as a 'global membership platform of physical and digital spaces.' It bills its flagship clubs — which include spas, gyms and other luxury amenities — as a 'home for creative people to come together and belong.' Known for attracting celebrities and other figures with deep pockets, membership fees often rack up to at least several thousand dollars a year. Soho House had more than 270,000 total members as of the end of June. And the company has reported an uptick in revenue during recent quarters. In earnings announced earlier this month, Soho House said had a total of it raked in $329.8 million in total revenues for its second fiscal quarter, an 8.9% jump year-over-year. Despite recent growth, the company's stock has tumbled during its time on the public market. Since Soho House began trading in 2021, its stock has fallen roughly 30%, trading at under $9 a share on Monday. That's down from $14 a share that the company debuted in its July 2021 initial public offering. Wyatte Grantham-philips, The Associated Press
Associated Press
2 hours ago
- Associated Press
Soho House agrees to go private again in a deal led by hotel giant MCR
NEW YORK (AP) — After a shaky four years on Wall Street, Soho House is ready to go private again. The luxury members club operator has struck a deal with an investor group led by hotel giant MCR, which will buy its outstanding shares for $9 each in cash. Soho House's Executive Chairman Ron Burkle and other big shareholders will roll over their stakes and retain control of the business, per a Monday announcement from the company. The take-private offer implies a total enterprise value of roughly $2.7 billion for Soho House, including debt. The company says it expects to complete the deal by the end of 2025, pending the regulatory greenlight and other closing conditions. If approved, the transaction means Soho House will stop trading on the New York Stock Exchange. Shares of Soho House climbed more than 15% by mid-morning Monday, following news of Soho House signing the agreement. Among other big names to join Soho House's future leadership is actor and now tech investor Ashton Kutcher, who is set to join the company's board following the deal's completion. Tyler Morse, CEO of New York-based MCR, will also join the board as Vice Chairman. In a statement, Morse said that MCR had 'long admired' Soho House and that its investment in the company 'represents a strategic opportunity to combine our operational expertise with one of the most distinctive brands in hospitality.' Soho House CEO Andrew Carnie pointed to the club's growth over the years, and said that returning to private ownership will help the company 'build on this momentum.' Soho House's roots date back to 1995, starting with a single club in London opened by founder Nick Jones. But today, the company's footprint includes 46 Soho House locations worldwide, in addition to a handful of coworking spaces, beach clubs and digital platforms. Soho House describes itself as a 'global membership platform of physical and digital spaces.' It bills its flagship clubs — which include spas, gyms and other luxury amenities — as a 'home for creative people to come together and belong.' Known for attracting celebrities and other figures with deep pockets, membership fees often rack up to at least several thousand dollars a year. Soho House had more than 270,000 total members as of the end of June. And the company has reported an uptick in revenue during recent quarters. In earnings announced earlier this month, Soho House said had a total of it raked in $329.8 million in total revenues for its second fiscal quarter, an 8.9% jump year-over-year. Despite recent growth, the company's stock has tumbled during its time on the public market. Since Soho House began trading in 2021, its stock has fallen roughly 30%, trading at under $9 a share on Monday. That's down from $14 a share that the company debuted in its July 2021 initial public offering.
Yahoo
2 hours ago
- Yahoo
Can Deckers Maintain Its Growth Trajectory Despite Margin Pressures?
Deckers Outdoor Corporation DECK started fiscal 2026 with a strong performance, though early signs of margin pressure emerged. Fiscal first-quarter revenues rose 17% year over year, led by record results from HOKA, which grew 19.8% to $653.1 million, and UGG, which advanced 18.9% to $265.1 million. This underscores the continued strength of the core brands in both domestic and international however, showed strain. Gross margin declined 110 basis points to 55.8% as wholesale growth outpaced direct-to-consumer ('DTC') sales, promotions increased and freight costs rose. These pressures outweighed the benefits from a favorable product mix and foreign exchange. Operating margin contracted despite SG&A leverage, which improved 230 basis points due to disciplined expense management and one-time currency acknowledged that the operating margin for fiscal 2026 will likely fall short of the record 23.6% delivered in fiscal 2025. Rising tariffs, elevated freight and higher promotional activity remain the key headwinds. While price increases and supplier cost-sharing are being implemented, the benefits will phase in gradually, leaving near-term profitability under the fiscal second quarter, gross margin is expected to land between 53.5% and 54%, down from the prior-year period. In addition, on its earnings call, management highlighted that tariff increases on Vietnam-sourced products could add as much as $185 million in costs this year, only partially mitigated by pricing actions and operational so, Deckers is taking proactive steps, including price increases, tighter expense controls and continued investment in brand strength. While margins will be pressured in the short term, Deckers' strong brand equity, international growth and disciplined execution provide a foundation for long-term resilience. DECK's Margin Performance Compared With SHOO & URBN Steven Madden, Ltd. SHOO and Urban Outfitters Inc. URBN are the key footwear companies competing with Deckers in operating the second quarter of 2025, Steven Madden reported an adjusted operating income of $22.6 million, down 58.5% from $54.5 million in the prior-year period. As a rate of sales, the adjusted operating margin decreased 640 bps year over year to 4%. Steven Madden's adjusted gross margin expanded 40 bps to 41.9%, while adjusted operating expenses rose 680 bps to 37.9% of the first quarter of fiscal 2026, Urban Outfitters recorded an operating income of $128.2 million, up 71.8% from $74.6 million in the first quarter of fiscal 2025. As a rate of sales, the operating margin increased 340 bps year over year to 9.6%. Urban Outfitters maintains a target of 10% operating margin for fiscal 2026. DECK's Price Performance, Valuation & Estimates Shares of Deckers have lost 49.3% year to date compared with the industry's decline of 13%. Image Source: Zacks Investment Research From a valuation standpoint, DECK trades at a forward price-to-earnings ratio of 15.88X, down from the industry's average of 17.54X. It has a Value Score of A. Image Source: Zacks Investment Research The Zacks Consensus Estimate for DECK's fiscal 2026 earnings implies a year-over-year decline of 0.6%, whereas the same for fiscal 2027 indicates an uptick of 8.3%. The estimates for fiscal 2026 and 2027 have been revised upward by 26 cents and 23 cents, respectively, in the past 30 days. Image Source: Zacks Investment Research DECK currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Deckers Outdoor Corporation (DECK) : Free Stock Analysis Report Urban Outfitters, Inc. (URBN) : Free Stock Analysis Report Steven Madden, Ltd. (SHOO) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
