Corporate News
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Cara Salpini/Retail Dive
Simon Property Group reportedly takes Gap to court over unpaid rent
The apparel company disclosed in April that it was withholding rent as stores closed due to the pandemic, and may owe the mall operator nearly $66 million.
By Daphne Howland • June 04, 2020 -
LVMH takes a new look at proposed $16.2B Tiffany merger
The luxury house may try to cut its purchase price in light of the pandemic and now civil unrest in the U.S., but analysts doubt the deal will collapse.
By Daphne Howland • June 04, 2020 -
Mike Mozart via flickr
Debtwire: Ascena brings on Kirkland & Ellis, others to advise on balance sheet
The apparel retailer was struggling with financial losses and sales declines, among other things, well before the COVID-19 crisis.
By Ben Unglesbee • June 04, 2020 -
PVH announces new Tommy Hilfiger chief
Daniel Grieder has left the apparel company after 23 years in various roles, succeeded by the brand's COO, 12-year company veteran Martijn Hagman.
By Daphne Howland • June 03, 2020 -
RTW Retailwinds says bankruptcy is 'probable'
Since the COVID-19 crisis, the owner of apparel retailer New York & Co has defaulted on contracts with landlords, vendors and likely its bank.
By Ben Unglesbee • June 03, 2020 -
Getty Images
From shipments to cash flow, pandemic uncertainty makes reopening harder
Nobody really knows how to forecast the next phase of the COVID-19 crisis without precedent. Getting it wrong could wreak havoc on retailers' operations.
By Ben Unglesbee • June 03, 2020 -
Retrieved from @Nike on Twitter on June 02, 2020
Brands scramble to make statements as protests continue
But how those messages are received depends on the core values of the business, experts say.
By Daphne Howland • June 02, 2020 -
Stitch Fix to lay off 1,400 employees
The company is letting go of its California stylists as it moves to hire around 2,000 in other parts of the country.
By Kaarin Vembar • June 02, 2020 -
Bankrupt Neiman Marcus breached its loan terms, lender says
Deutsche Bank raised concerns that inventory backing the luxury retailer's asset-based credit line was overvalued by tens of millions of dollars.
By Ben Unglesbee • June 02, 2020 -
Courtesy of Costco Wholesale
Costco will revive store sampling this summer
The club retailer, which saw U.S. store traffic decline 2% in Q3, hopes to spur shopper interest by bringing back fundamental parts of its store experience.
By Jeff Wells • June 02, 2020 -
"The Target on Lake Street is looted and graffitied on Thursday morning after a night of protests and rioting in Minneapolis, Minnesota" by Lorie Shaull is licensed under CC BY 2.0
Retailers respond to weekend protests
Target and Nordstrom closed stores after locations were damaged, but focused their statements on support for the protestors' cause.
By Daphne Howland • June 01, 2020 -
Party City buys time with debt deal
The agreement with some lenders would trade old debt for equity and new debt, giving the ailing party retailer breathing room to work on its turnaround.
By Ben Unglesbee • June 01, 2020 -
Brick and mortar's next chapter
The pandemic is forcing retailers to finally define just what their stores are for.
By Daphne Howland • June 01, 2020 -
Daphne Howland/Retail Dive
Ulta slashes 2020 new store openings to as few as 30
The pandemic has also changed the retailer's long-term thinking about its brick-and-mortar base, thanks to the success of its e-commerce.
By Cara Salpini • May 29, 2020 -
Why the pandemic was a windfall for (some) dollar stores
Sales and profit growth at Dollar General were explosive, as customers stocked up and stayed close to home during the pandemic.
By Ben Unglesbee • May 29, 2020 -
Daphne Howland/Retail Dive
Nordstrom Q1 loss exceeds half a billion dollars
The retailer depends on physical stores to anchor its retail ecosystem, a disadvantage with locations closed due to the pandemic.
By Daphne Howland • May 29, 2020 -
Kendall Davis for Retail Dive
Podcast
The Backroom: How the coronavirus sped up retail bankruptcies
On this episode of the podcast, senior reporters Daphne Howland and Ben Unglesbee discuss how the pandemic pushed distressed retailers to file.
By Caroline Jansen • May 28, 2020 -
"Tuesday Morning at the Sunset Esplanade in w:Hillsboro, Oregon." by M.O. Stevens is licensed under CC BY 4.0
How Tuesday Morning went bankrupt
After more than 45 years as an off-pricer, the retailer hit the skids when COVID-19 forced its doors shut and zeroed out revenue. Now it hopes to slim down in Chapter 11.
By Ben Unglesbee • May 28, 2020 -
Rethinking the catwalk could slow down fast fashion
A movement to tear up the traditional fashion week calendar has profound implications for the apparel trade — and beyond.
By Daphne Howland • May 28, 2020 -
Daphne Howland/Retail Dive
The incredible shrinking department store
The COVID-19 pandemic has made certain that the century-old retail model will never be the same. Which ones survive, and what will they look like?
By Daphne Howland • May 28, 2020 -
Courtesy of Patrick Pfohl, Manager, GOLIN on behalf of Walmart
Walmart joins long line of retailers partnering with resale site ThredUp
The retail giant is selling the secondhand goods only online but will take returns in stores.
By Daphne Howland • May 27, 2020 -
Saks owner balks at lawsuit alleging a 'clandestine corporate shell game'
With the Canadian retail company behind on mortgage payments, lenders allege its internal restructuring raises risks to repayment on a major loan.
By Ben Unglesbee • May 27, 2020 -
Cara Salpini for Retail Dive
Does the coronavirus outbreak change who's on top in the beauty space?
Sephora and Ulta usually reign, but temporary store closures have kept their doors shut and put growth plans on the back burner.
By Cara Salpini • May 27, 2020 -
Daphne Howland/Retail Dive
Fitch downgrades Macy's on pandemic fallout into next year
The department store has decent liquidity, but analysts expect sales to remain under pressure into the holidays as the outbreak weakens consumer spending.
By Daphne Howland • May 27, 2020 -
"Tuesday Morning at the Sunset Esplanade in w:Hillsboro, Oregon." by M.O. Stevens is licensed under CC BY 4.0
Tuesday Morning files for bankruptcy with plans to close a third of its stores
The off-price retailer cited COVID-19 as an "insurmountable financial hurdle" that forced it into Chapter 11, though its struggles go back further.
By Ben Unglesbee • May 27, 2020
