The Secaucus, N.J.-based company, parent to brands including Gymboree, Sugar & Jade and PJ Place, has been working on a turnaround since Saudi-based Mithaq Capital acquired a 54% controlling stake in February and ousted its longtime CEO.

The S&P 500 and the Nasdaq managed to secure another record close after struggling for direction in much of Tuesday's session.

Stocks closed with solid gains as Wall Street put the finishing touches on one of its best months of the year. The S&P 500 rose 0.6% while the Dow Jones

The S&P 500 (SPX) and the Dow Jones Industrial Average both closed out November at record highs, with the Dow topping 45,000 in trading on Friday before ending the session just shy of that milestone.

There was a 3.4% year-over-year increase in US retail sales on Black Friday, with online sales driving the bulk of the gains, according to Mastercard

Markets on Wall Street inched modestly lower before the opening bell on Monday as they kicked off the final month of 2024 hoping to match November's robust gains. Futures for the S&P 500 and the Dow Jones Industrial Average were each down less than 0.

Stocks closed mixed on Cyber Monday, though two of the three main equity indexes established new all-time highs in the first trading session of December. Multiple stocks moved on major corporate leadership changes as investors look forward to a big piece of employment data ahead of the next Federal Open Market Committee meeting later this month.