Corporate News: Page 2

Overstock's sales get a 109% boost from pandemic shopping

The retailer, after struggling in recent years, was uniquely positioned as an e-commerce player to take advantage of consumers stuck at home. 

By Ben Unglesbee • July 30, 2020

J.C. Penney looks to sell itself in bankruptcy

Separate bidders are lining up for the department store, which hopes to sell itself quickly and exit Chapter 11 a slimmer, healthier business.

By Ben Unglesbee • July 30, 2020

Podcast

The Backroom: When retailers issue mask requirements

Without federal face mask guidelines, retailers like Walmart, Target and Best Buy have had to introduce their own measures.

By Caroline Jansen • July 30, 2020

J. Jill to close stores as Q1 sales, profits plunge

Sales were already suffering before the disease outbreak, and the retailer's future is now in doubt.

By Daphne Howland • July 29, 2020

Nike names new diversity chief

Felicia Mayo will replace Kellie Leonard with a new title that brings talent, diversity and inclusion, and culture under one roof.

By Cara Salpini • July 29, 2020

L Brands to slash 850 home office jobs

The company said it will beat expectations in the second quarter, and reiterated plans to separate Victoria's Secret and Bath & Body Works.

By Daphne Howland • July 29, 2020

Under Armour stands by accounting practices despite Wells Notices

The SEC told the retailer it may take action for violations of federal securities laws. Under Armour likely has 30 days to convince the SEC otherwise.

By Cara Salpini • July 28, 2020

Tailored Brands says bankruptcy 'likely'

A filing could come as early as the next quarter, which starts Sunday. The retailer warned it could default on its debt and may not be able to pay rent.

By Daphne Howland • July 28, 2020

Francesca's sees itself on 'right path forward' after COVID-19 hammered sales

The apparel retailer is a case study in uncertainty as it offers relatively optimistic guidance after being forced to re-close stores in California.

By Ben Unglesbee • July 28, 2020

Lands' End issues 'going concern' warning as it looks to refinance debt

The apparel seller is in talks to refinance its debt, which will likely be key to staying out of bankruptcy court as the brand weathers COVID-19 disruptions. 

By Ben Unglesbee • July 27, 2020

Walgreens CEO to step down

During his five-year tenure after the drugstore's merger with U.K.'s Boots, Stefano Pessina oversaw a failed attempt to take over rival Rite Aid.

By Daphne Howland • July 27, 2020

Bankrupt Ascena to close more than 1K stores

The court agreed to the closure of more than 600 of tween brand Justice's stores and all 264 Catherine's plus stores, with yet more possible.

By Daphne Howland • July 27, 2020

Target to close for Thanksgiving, double down on same-day services

The retail giant will also start its holiday deals in October to reduce crowds and said the changes were made in anticipation of a "very different" holiday season.

By Ben Unglesbee • July 27, 2020

Which retailers have taken the hardest financial hits from COVID-19?

Lost sales, burned cash, new debt — even healthy retailers have become more vulnerable after eating into their financial cushions. 

By Ben Unglesbee • July 27, 2020

Two longtime Foot Locker execs retire as part of organizational restructuring

Lew Kimble and Jake Jacobs are both retiring at the end of August, but both were on the short-list to replace Richard Johnson as CEO, one analyst said.

By Cara Salpini • July 24, 2020

Neiman Marcus gives up on Hudson Yards after just over a year

The department store will also permanently close three other stores, in Florida and Washington state, according to a bankruptcy court filing Thursday.

By Daphne Howland • July 24, 2020

Simon Property Group, Authentic Brands bid $305M for Brooks Brothers

The 202-year-old clothier is the latest retail tenant that could be acquired by its landlord in an effort to salvage rent.

By Daphne Howland • July 24, 2020

Walmart to expand health centers to Florida next year

The retail giant has expanded its healthcare presence during the pandemic and plans to open additional clinics in Georgia this year and possibly Chicago.

By Rebecca Pifer • July 24, 2020

Rent the Runway hires new chief technology, people officers

The appointments come after the fashion rental company's former CTO and president departed earlier this year. 

By Tatiana Walk-Morris • July 23, 2020

Adevinta acquires eBay Classifieds for $9.2B

The companies said they expect to complete the deal by next year. 

By Tatiana Walk-Morris • July 23, 2020

Retail REITs may not recover until 2022, S&P says

Store closures, bankruptcies and wary shoppers mean cash flow disruptions for major landlords. 

By Ben Unglesbee • July 23, 2020

How Ascena went bankrupt

The retailer went big in the new millennium, even as clothing sales growth shrank. Its Chapter 11 filing Thursday isn't just about the pandemic.

By Daphne Howland • July 23, 2020

Nike to lay off 'at least' 500 employees at Oregon headquarters

As part of an effort to streamline its organization, the athletics retailer will cut jobs, resulting in up to $250 million in termination costs.

By Cara Salpini • UPDATED: Aug. 3, 2020 at 9:54 a.m.

Retailers join forces in bid to replace the plastic bag

Target, Walmart and Kroger are part of a newly formed, $15 million "Beyond the Bag" program.

By Sam Silverstein • July 23, 2020

Walmart to close on Thanksgiving

The retailer framed the decision to close U.S. stores on the holiday — for the first time in more than 30 years — as a gesture of thanks to employees.

By Ben Unglesbee • July 22, 2020