DTLR Holding Inc., a Hanover apparel store, plans to raise up to $75 million in an initial public offering of its common shares, the company said in a regulatory filing on Friday.
The retailer did not say how many shares will be offered or at what price, but said the IPO would occur "as soon as practical."
The 30-year-old company, which described itself as a "lifestyle retailer of street-inspired footwear, apparel and accessories," has 95 stores in a dozen states and D.C., according to the filing.
It posted a $5.13 million profit for the fiscal year ended in early February, compared with $5.25 million the year before. Sales reached $181.5 million in the last fiscal year, up from $161.8 million the year before.
Proceeds from the IPO will be used for, among other things, to repay loans, bonuses and general corporate purposes, the company said.Copyright © 2015, The Baltimore Sun