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.

Stocks rallied and yields plunged as markets cheered Scott Bessent as Trump's pick to run the Treasury. The Dow and the Russell 2000 hit fresh records.

Stock futures are pointing to a flat open on Tuesday as the market looks to extend a rally that has pushed major indexes to record levels.