Big Dog Holdings, Inc. has signed a letter of intent to purchase the assets of Natural Comfort Footwear, while also changing its name to The Walking Company Holdings, Inc. Natural Comfort operates a chain of eight retail stores selling comfort shoes in Florida. The purchase is subject to execution of a definitive agreement and is expected to close around year end. Following closing, TWC will convert the stores to “The Walking Company” stores.
Commenting on the announcement, Andrew Feshbach, CEO of Big Dogs, said: “This is part of our continuing plan to expand the operations of The Walking Company. The acquisition of the eight Natural Comfort stores, when added to our 18 existing and committed The Walking Company stores in Florida, will brings us to 26 stores in that state by next year. We expect that increased coverage and density of operation in Florida to enhance the efficiencies of our marketing and operations there and increase sales.”
The company also announced that it plans to change the name of Big Dog Holdings, Inc. (the parent of The Walking Company and Big Dog Sportswear) to “The Walking Company Holdings, Inc.” Such change is planned to be implemented in early 2008. Said Mr. Feshbach, “This change simply reflects the changing dynamic of our company, which has been going on for some time now. Our continuing success in expanding The Walking Company has resulted in it outstripping Big Dogs, and we see that continuing in the future.”
