Financial News
-
Sponsored by Workday
Getting ready for future-proof retail finance
As its growth outpaced its technology, here’s how one retailer prioritized digital acceleration to transform its finance function — for seamless agility, flexibility and rapid ROI.
-
Nordstrom lightens financial burden taken on amid pandemic with $675M bond sale
The retailer compromised treasured assets and took on new leverage as COVID-19 created financial turmoil. The new capital helps turn back the clock.
By Ben Unglesbee • April 09, 2021 -
Moody's sees sustainability as opportunity for fashion, despite costs
Diminishing resources and mounting pressure from consumers and regulators are forcing apparel brands to adopt more eco-friendly practices.
By Daphne Howland • April 09, 2021 -
Tailored Brands left bankruptcy and quickly unravelled. What's next?
The menswear retailer is searching for its footing after running into liquidity problems and legal fights immediately after exiting Ch. 11.
By Ben Unglesbee • April 08, 2021 -
Retail defaults to decline — but will still be high: Moody's
Bankruptcies hit record highs in 2020. The pace already slowed, but uncertainty remains, and weaker retailers are still vulnerable.
By Ben Unglesbee • April 08, 2021 -
Bluemercury introduces Klarna installment payments in stores
Consumers are interested in buying cosmetics in stores again and plan to do so as vaccine distribution continues, according to a Klarna study.
By Tatiana Walk-Morris • April 08, 2021 -
Serta appoints new leadership, including chief commercial officer and COO
The executive shakeup supports the mattress company's transformation strategy, which places digital capabilities at the forefront.
By Caroline Jansen • April 07, 2021 -
Target to spend over $2B with Black-owned companies by 2025
The retailer intends to add products from over 500 Black-owned businesses in several categories and launch resources to help vendors scale their operations.
By Maria Monteros • April 07, 2021 -
Mall vacancy rate hits another record high
The mall vacancy rate hit 11.4% in the first quarter, a 90-point jump from last quarter and a 0.4% hike over last year, according to Moody's Analytics.
By Daphne Howland • April 07, 2021 -
J. Crew elevates Madewell execs to tackle marketing, digital
Three of four appointments to the company's senior management team are Madewell execs gaining more responsibility.
By Maria Monteros • April 07, 2021 -
Gap designs fulfillment system to prioritize 'most valuable' customers
Delivery speeds will be tiered as gold, silver and bronze, which the CEO said would help manage costs.
By A.B. Brown • April 07, 2021 -
Fashion brand owner The Collected Group files for bankruptcy
The owner of Joie, Equipment and Current/Elliott fashion brands is in Chapter 11 after the pandemic wiped out 70% of its biggest revenue channel.
By Ben Unglesbee • April 06, 2021 -
Brookfield mall REIT to be sold for $6.5B
The landlord earlier this year said going private would provide more flexibility managing its portfolio, as malls decline further during the pandemic.
By Daphne Howland • April 05, 2021 -
Deep Dive
The omnichannel age is here — and it's expensive
Store pickup of online orders grew by triple digits amid the pandemic. Retailers are now scrambling to become more efficient sellers across channels.
By Ben Unglesbee • April 05, 2021 -
With $155M in fresh capital, Harry's looks to add more brands
A year after its deal with Schick owner Edgewell was called off, the company behind Harry's, Flamingo, Cat Person and Headquarters is expanding.
By Caroline Jansen • April 01, 2021 -
Walgreens to launch digital bank accounts this year
The accounts will be available to customers online and at 9,000 Walgreens locations in the second half of 2021.
By Anna Hrushka • April 01, 2021 -
Deep Dive
Malls tout proposed changes to REIT rules as good for retailers
But legislation that would alter longstanding tax policy and make it easier for landlords to buy their tenants is more likely an attempt to save the mall.
By Daphne Howland • UPDATED: April 1, 2021 at 2:44 p.m. -
Chewy reports first quarterly profit as sales rise 51%
Buoyed by increased pet adoptions last year and heightened e-commerce demand, the online pet retailer continues to reap the benefits.
By Caroline Jansen • March 31, 2021 -
Lululemon more than doubles e-commerce in 2020
That benchmark was initially expected in 2023, and the company also remains on track to double men's and quadruple international by then.
By Cara Salpini • March 31, 2021 -
Months out of bankruptcy, Neiman Marcus refinances $1.1B in debt
The luxury retailer kicked out maturities and reduced interest expenses as it tries to find its footing in a changed sector.
By Ben Unglesbee • March 31, 2021 -
Citing privacy concerns, some online marketplaces move against seller transparency
EBay, Etsy, Mercari, OfferUp and Poshmark have banded together against a Senate bill aimed at curtailing sales of fake and stolen goods.
By Daphne Howland • March 30, 2021 -
Bed Bath & Beyond brings in Walmart, Wayfair vets to support digital operations
Jill Pavlovich and Jake Griffith will help grow the company's $3 billion online business as it works toward becoming an "omni-always" retailer.
By Caroline Jansen • March 30, 2021 -
GameStop hires Amazon vet as chief growth officer
The retailer is filling out its upper ranks with e-commerce specialists as it tries to transition to a more digital era of gaming.
By Ben Unglesbee • March 30, 2021 -
Drew Barrymore launches cookware brand at Walmart
The actress teamed up with Made by Gather to produce over 150 products in the Beautiful Kitchenware collection.
By Maria Monteros • March 29, 2021 -
Wells Fargo sees permanent consumer behavior shifts from the pandemic
While the recent e-commerce surge is settling down, the channel gained new shoppers, according to a report from the analysts last week.
By Daphne Howland • March 29, 2021