Financial News

  • A storefront with colorful window decorations and a horseshoe emblem above the door, with the words "True Religion" in black, all-capital letters.
    Image attribution tooltip
    Daphne Howland/Retail Dive
    Image attribution tooltip

    The Weekly Closeout: True Religion expands internationally and The Container Store’s CEO takes a pay cut

    The apparel retailer will soon have 26 markets outside of the U.S., while Satish Malhotra temporarily reduced his salary to offset employee pay raises.

    By Retail Dive Staff • Sept. 22, 2023
  • The Instacart+ subscription service on an smartphone
    Image attribution tooltip
    Courtesy of Instacart
    Image attribution tooltip

    Instacart makes long-awaited public market debut

    The company priced its IPO at $30 per share as it prepared to list under the ticker symbol “CART” on Tuesday, putting its valuation at just below $10 billion.

    By Catherine Douglas Moran • Sept. 19, 2023
  • Explore the Trendline➔
    Image attribution tooltip
    Getty Images
    Image attribution tooltip
    Trendline

    The direct-to-consumer landscape in retail

    More mature brands are pursuing exit strategies and expanding their reach, while retailers are increasingly shifting to a DTC model.

    By Retail Dive staff
  • Five pieces of clothing, with a cardboard box to the right that says "Stitch Fix."
    Image attribution tooltip
    Courtesy of Stitch Fix
    Image attribution tooltip

    Stitch Fix cost cuts pay off as Q4, full-year losses narrow

    But sales declines continue, and the apparel box retailer has decided to shutter its U.K. operation by the end of its first quarter.

    By • Sept. 19, 2023
  • Instacart reaches out to retail partners in fresh rebrand
    Image attribution tooltip
    Courtesy of Instacart
    Image attribution tooltip

    Instacart lifts target IPO share price range

    The grocery tech company now expects its shares to fetch between $28 and $30 each, which would raise between $616 million and $660 million for the firm when it goes public.

    By Catherine Douglas Moran • Sept. 18, 2023
  • An assortment of Goodles products.
    Image attribution tooltip
    Courtesy of Goodles
    Image attribution tooltip

    Goodles refreshes leadership as it brings in $13M in Series A funding

    The food brand known for its “better-for-you” boxed mac and cheese named a new CFO, chief marketing officer and senior vice president of sales.

    By Howard Ruben • Sept. 18, 2023
  • Inside shot of a Birkenstock store. Shoes are on pedestals in the window. Shoes are also on shelves and on tables on the right.
    Image attribution tooltip
    Courtesy of Birkenstock
    Image attribution tooltip

    Birkenstock revenue up 21% so far this year

    The footwear brand's updated F-1 filing showed a year-over-year decrease in net profit for the nine months ended June 30. 

    By • Sept. 18, 2023
  • Proven Skincare
    Image attribution tooltip
    Courtesy of Proven Skincare
    Image attribution tooltip

    Personalized skin care brand Proven raises $12.2M

    With the fresh funding, the company will launch new products for its Proven Skincare and Noteworthy brands, as well as expand its team.

    By Howard Ruben • Sept. 15, 2023
  • Amazon's office at Lord & Taylor's former building in New York City
    Image attribution tooltip
    Courtesy of Amazon
    Image attribution tooltip
    Column

    The Weekly Closeout: Amazon moves into former Lord & Taylor building, Belk celebrates 135 years

    The e-commerce giant took over the New York City space previously occupied by the department store, while Belk plans a party in honor of its first location.

    By Retail Dive Staff • Sept. 15, 2023
  • The outside of the Macy's store in Herald Square in NYC during the holidays.
    Image attribution tooltip
    Kaarin Vembar/Retail Dive
    Image attribution tooltip

    Holiday sales predicted to rise by 3.5%: Deloitte

    That’s slower than last year, as the research firm expects inflation’s impact to moderate and shoppers to have fewer pandemic-era savings.

    By Tatiana Walk-Morris • Sept. 14, 2023
  • Exterior shot of a Birkenstock store.
    Image attribution tooltip
    Courtesy of Birkenstock
    Image attribution tooltip

    Birkenstock files for IPO as it eyes global growth

    Private equity firm L Catterton will control a majority of voting power on outstanding shares.

    By • Sept. 13, 2023
  • A yellow and black "Dollar General" sign framed by leaves.
    Image attribution tooltip
    Justin Sullivan via Getty Images
    Image attribution tooltip

    Dollar General braces for $95M profit hit as it clears inventory

    While it works to reduce stock levels, the discounter is also investing in new planning tools to help manage flows at stores and distribution centers.

    By • Sept. 12, 2023
  • External shot of a Restoration Hardware storefront.
    Image attribution tooltip
    The image by wpktsfs is licensed under CC BY-SA 3.0
    Image attribution tooltip

    RH predicts market challenges will persist as sales fall 19%

    Net income tumbled 37% in Q2 as the retailer faces industrywide challenges, including the highest mortgage rates in 20 years.

    By • Sept. 11, 2023
  • A mall entrance to a clothing store named "Torrid."
    Image attribution tooltip
    Daphne Howland/Retail Dive
    Image attribution tooltip

    Torrid lays off 5% of headquarters staff as sales decline

    The workforce reduction, which took place at the beginning of Q3, came as the retailer reported second-quarter net income fell over 70%.

    By • Sept. 7, 2023
  • Various products with "Honest Company" labels are displayed at a store.
    Image attribution tooltip
    Marco Garcia via Getty Images
    Image attribution tooltip

    Nordstrom vet tapped for Honest CFO seat

    The finance leadership change comes as the consumer products company struggles with growth and profitability.

    By Alexei Alexis • Sept. 7, 2023
  • With tree branches and brick buildings to the left, a sign reading "UpWest" juts out from a building.
    Image attribution tooltip
    Daphne Howland/Retail Dive
    Image attribution tooltip

    Express Inc. leans on cost cuts as sales, profits plummet

    The apparel conglomerate is facing consumer demand for promotional pricing and has had to correct some fashion misses at its namesake.

    By • Sept. 6, 2023
  • Draper James RSVP launches at Kohl's.
    Image attribution tooltip
    Courtesy of Kohl's
    Image attribution tooltip

    Reese Witherspoon sells majority stake in Draper James

    Private equity firm Consortium Brand Partners now holds a 70% stake, while the actor and brand founder remains a partner and board member.

    By • Sept. 6, 2023
  • An Academy Sports and Outdoors storefront
    Image attribution tooltip
    Courtesy of Academy Sports and Outdoors
    Image attribution tooltip
    Column

    The Weekly Closeout: Academy Sports and Outdoors expands assortment, and has pumpkin spice gone too far?

    Fall-scented flushable wipes are here. Meanwhile, Academy Sports and Outdoors struck two deals this week, with Fanatics and L.L. Bean.

    By Retail Dive Staff • Sept. 1, 2023
  • Lululemon storefront.
    Image attribution tooltip
    Kaarin Vembar/Retail Dive
    Image attribution tooltip

    Lululemon increases store opening plans as sales climb 18%

    While many in the industry have warned of challenges, the athletics retailer continued to outperform, recording double-digit profit growth.

    By • Sept. 1, 2023
  • Chewy, fulfillment center, truck loading
    Image attribution tooltip
    Permission granted by Chewy
    Image attribution tooltip

    Chewy sales up 14% in Q2, beating expectations

    However, executives noted consumer shifts that signal shoppers may be seeking out more value in light of economic uncertainty.

    By • Aug. 31, 2023
  • A Dollar General sign and brick storefront on a cloudy day with the company's signature black on yellow logo
    Image attribution tooltip
    Permission granted by Dollar General
    Image attribution tooltip

    Dollar General set to open nearly 1K new stores despite profit, margin declines

    The discounter is grappling with bloated inventories, which analysts say are contributing to shrink and impeding store operations.

    By • Aug. 31, 2023
  • Mannequins in lingerie are part of the sales floor displays at Victoria's Secret in New York City
    Image attribution tooltip
    Permission granted by Victoria's Secret & Co.
    Image attribution tooltip

    Victoria’s Secret posts Q2 sales decline amid turnaround efforts

    While the retailer reported progress on its strategic initiatives, analysts question whether its actions are working.

    By • Aug. 31, 2023
  • A cream-colored J.C. Penney storefront with signage in red letters.
    Image attribution tooltip
    Courtesy of J.C. Penney
    Image attribution tooltip

    J.C. Penney announces $1B turnaround plan

    The struggling department store will upgrade its tech, stores and customer experience, but is unlikely to follow rival Macy’s in leaving the mall.

    By • Aug. 31, 2023
  • A quotation mark on a blue background.
    Image attribution tooltip
    Kendall Davis/Retail Dive
    Image attribution tooltip
    Podcast

    The Backroom: A look back on the first half of 2023 for DTC brands

    The team talks about the latest financial results from various players as the holidays quickly approach.

    By Retail Dive Staff • Aug. 31, 2023
  • Two black and pink fabric bags with floral patterns against a pink backdrop
    Image attribution tooltip
    Courtesy of Vera Bradley
    Image attribution tooltip

    Vera Bradley Q2 sales decline, full-year outlook narrows

    The company — which operates its namesake brand and Pura Vida — lowered the top end of its fiscal 2024 revenue expectations.

    By • Aug. 30, 2023
  • People walking down the street, past an apparel store.
    Image attribution tooltip
    Andrew Burton / Staff via Getty Images
    Image attribution tooltip

    Ann Taylor, Loft, Talbots form new KnitWell Group

    Sycamore Partners acquired Talbots over a decade ago and the other KnitWell brands during Ascena’s 2020 bankruptcy.

    By • Aug. 30, 2023