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Hat retailer Lids, backed by rapper Meek Mill, opens in Australia

The well-known US specialty retailer sells more than 30 million hats a year and is backed by some high-profile names, including rapper Meek Mill. ....

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Genesco activist looks to take over board, blasts acquisition strategy

Dive Brief:
Citing chronic underperformance, an activist investor is looking to replace the majority of Genesco s board with seven directors of its choosing.
In an 18-page letter, leaders of Legion Partners, which owns 5.6% of Genesco, questioned the company s conglomerate structure, which in their view has resulted in a string of poor acquisition decisions that has led to an increasingly bloated cost structure and corporate overhead.
Genesco said it would review the seven directors nominated by Legion Partners. In a statement, the company disagreed with many of Legion s assertions while touting the company s footwear-focused strategy, response to COVID-19 disruption and highly engaged board. ....

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