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.

Markets were slow to gain traction in either direction early Tuesday, a day after a surging technology sector boosted Wall Street to another record finish. Futures for the Dow Jones Industrial Average and S&P 500 were essentially unchanged before the bell.

"At present I lean toward supporting a cut to the policy rate at our December meeting," Fed Governor Christopher Waller said on Monday.