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eCommerce - Friday, September 11, 2009

Mall Retailer Rue 21 Files $125M IPO

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We rarely post on non-tech, retail stocks, but we think there is a good lesson here that growth can come even in the worst environment if you are focused and fast.

While other teen retailers have struggled during the recession, Warrendale, PA's Rue21 has been doing well enough that it has filed to raise $125M in an IPO. Rue 21 is a specialty retailer of value-priced girls and guys apparel for ages ranging from 11- to 17-year-olds who aspire to be '21.'

It has more than 500 stores in 43 states. Its emphasis on inexpensive, fast fashion that chases the trends and gets merchandise into stores quickly. Sales came in at $391M in the fiscal year ended Jan. 31, up from $297M the previous year.

The retailer is backed by Apax Partners.

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