Aegis Brands Initiates Strategic Review and Announces CEO Resignation

Aegis Brands has begun a formal review of strategic alternatives after receiving unsolicited interest from multiple parties, but said it has held no formal discussions. CEO Sean Murphy resigned effective immediately. In its third-quarter results, the company reported CA$35.4 million in revenue, adjusted EPS of CA$0.01, a 49.4% year-over-year improvement in net income, and an 8.4% increase in comparable sales; system-wide sales for its St. Louis brand rose 8.1%. The article did not report a stock-price reaction.