Barneys Is Only Worth About $350 Million

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A sea of argyle and plaid in Fred Perry. Photo: Getty Images

Yesterday we learned that Istithmar was considering selling Barneys, which it purchased less than two years ago for $942 million. The company doesn't want to lose money in the sale, however, and insiders estimate that Barneys would only fetch $300 to $400 million now. Chief executive Howard Socol, who resigned in May, hasn't been replaced. Also, the steady stream of customers willing to spend $300 on a T-shirt has dried up. On the upside, retail analysts say the Barneys brand still has caché. [NYT]