Financial News


  • Peloton Bike+
    Image attribution tooltip
    Courtesy of Peloton

    Peloton touts ‘best quarterly performance’ in a year

    However, revenue was still down 30% year over year and net loss exceeded $300 million.

    By Feb. 1, 2023
  • Hand pushing on a light purple memory foam pillow
    Image attribution tooltip
    Courtesy of Purple

    Purple projects net loss up to $97.5M for 2022

    CEO Rob DeMartini said that inflationary pressure on consumer spending and increased promotional activity have impacted profitability. 

    By Jan. 31, 2023
  • 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
  • Black and white bottle saying Amass on it
    Image attribution tooltip
    Courtesy of Amass Brands

    Amass Brands acquires operating assets of wine company Winc

    The spirits conglomerate is taking on several brands from Winc’s portfolio, which filed for bankruptcy in December due in part to declining DTC sales. 

    By Jan. 27, 2023
  • A tableau of five Yankee Candles surrounded by small pink Christmas trees.
    Image attribution tooltip
    Courtesy of Yankee Candle

    Newell Brands to lay off 13% of office staff

    The cuts will be done by the end of 2023 and are part of a broader restructuring plan aimed at saving up to $250 million a year.

    By Jan. 27, 2023
  • Bed Bath & Beyond
    Image attribution tooltip
    Bruce Bennett via Getty Images

    As it inches toward bankruptcy, Bed Bath & Beyond defaults on loan

    The distressed home goods retailer said it doesn’t have enough cash to pay down its debts.

    By Jan. 27, 2023
  • A red Levi's tab sign against a bright blue sky.
    Image attribution tooltip
    Daphne Howland/Retail Dive
    Column

    The Weekly Closeout: Foot Locker faces privacy suit and Levi’s misquotes Mark Twain

    A lawsuit alleges the athletics retailer violated California’s privacy act. Meanwhile, Levi’s CEO Chip Bergh cited the author on why skinny jeans are not dead.

    By Retail Dive Staff • Jan. 27, 2023
  • A massive lit-up sign with the tilted blue "Hasbro" logo and cartoon images looms over a dark room.
    Image attribution tooltip
    "Hasbro booth" by Gage Skidmore is licensed under CC BY-SA 2.0

    Hasbro slashes global workforce amid challenging consumer environment

    The move is part of a reorganization that includes the COO’s departure and a shift away from consumer products.

    By Jan. 27, 2023
  • A Champs storefront
    Image attribution tooltip
    Courtesy of Champs

    Foot Locker to cut corporate roles, wind down Sidestep banner

    New CEO Mary Dillon is rapidly making changes to a business that analysts said "clearly needed a shake-up.”

    By Jan. 27, 2023
  • Someone stands to left of a store window with a white neon sign that reads "The Levi's Tailor Shop San Francisco."
    Image attribution tooltip
    Daphne Howland/Retail Dive

    Levi’s CEO: ‘The skinny jean is not going anywhere’

    Baggy styles are on-trend and selling, but the closet staple is hanging around. Meanwhile, the company sees inventory returning to normal by mid-year.

    By Jan. 26, 2023
  • Image attribution tooltip
    Kendall Davis/Retail Dive
    Podcast

    The Backroom: What’s going on with DTC this year?

    The team introduces new co-host Dani James and talks about changes in the direct-to-consumer space and the ongoing importance of brick and mortar.

    By Retail Dive Staff • Jan. 26, 2023
  • People walk around in front of Saks Fifth Avenue and Hudson's Bay department stores.
    Image attribution tooltip
    "Hudson's Bay" by Jeff Hitchcock is licensed under CC BY 2.0

    E-retailers Saks, Saks Off 5th, The Bay resort to layoffs amid turmoil in tech

    In 2021, HBC split the online and brick-and-mortar operations of its companies to gain financial and talent advantages. Now, all three spinoffs are cutting jobs.

    By Jan. 25, 2023
  • Walmart
    Image attribution tooltip
    Courtesy of Walmart

    Walmart to raise hourly wages

    The company says the change will bring average hourly pay to $17.50 for about 340,000 workers.

    By Jan. 25, 2023
  • Camino Partners execs and the Belgian Boys brand founders have their arms around each other in front of a pink Belgian Boys trade show booth.
    Image attribution tooltip
    Permission granted by Camino Partners

    Former Kind execs launch incubation and investment firm Camino Partners

    The entity represents a new name and mission for Daniel Lubetzky’s Equilibra Partners Management, with a goal of helping startups on their journey.

    By Megan Poinski • Jan. 25, 2023
  • A family lounges on a bed with sage-green covers.
    Image attribution tooltip
    Courtesy of Tuft & Needle

    Serta Simmons files for Chapter 11

    The company, whose holdings include DTC brand Tuft & Needle, is also suing to uphold the terms of a 2020 loan that it calls “critical.”

    By Jan. 24, 2023
  • Hand pushing on a light purple memory foam pillow
    Image attribution tooltip
    Courtesy of Purple

    Purple rejects takeover bid

    Coliseum Capital Management sent the brand an unsolicited proposal in September to acquire its remaining common stock for $4.35 a share.

    By Jan. 24, 2023
  • Person with short brown hair holds makeup brush to face of person with long brown hair
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    Courtesy of Makeup by Mario

    Prestige brand Makeup by Mario raises $40M

    Founded by celebrity makeup artist Mario Dedivanovic, the brand joins a list of companies that have snagged funding amid a downturn in VC-backed capital.

    By Jan. 24, 2023
  • A wall of beauty products.
    Image attribution tooltip
    Courtesy of Thirteen Lune

    Thirteen Lune raises $8M in seed round

    The company said that the investment puts it on track to reach profitability this year.

    By Tatiana Walk-Morris • Jan. 23, 2023
  • Two people hiking single file toward massive rock formations, seen from the back, with a backpack on the person behind.
    Image attribution tooltip
    "Backpacking" by Zach Dischner is licensed under CC BY 2.0

    What retailers can expect from consumers this year

    Consumers are more cautious and discerning, yet eager to get out and about, Euromonitor’s Michelle Evans told an NRF audience last week.

    By Jan. 23, 2023
  • Image attribution tooltip
    Ian Waldie via Getty Images

    Hatch gains operational control over Destination Maternity, A Pea in the Pod, others

    Marquee Brands has taken a minority stake in the newly-formed Hatch Collective, led by Hatch CEO and founder Ariane Goldman.

    By Jan. 23, 2023
  • A Bed Bath & Beyond sign against a blue sky with puffy white clouds.
    Image attribution tooltip
    Daphne Howland/Retail Dive

    Bed Bath & Beyond receives Nasdaq warning over late 10-Q

    The distressed retailer has until March 13 to regain Nasdaq listing compliance by submitting the financial report.

    By Jan. 20, 2023
  • Saks Fifth Avenue relaunches its website
    Image attribution tooltip
    Courtesy of Saks

    Saks.com expected to lay off 100, half in tech

    The layoffs affect almost 4% of the luxury retailer’s workforce, which had more than doubled since it separated from the brick-and-mortar operations.

    By Jan. 20, 2023
  • A cardboard box with a round light-blue logo and the words "Stitch Fix" leans against a bright yellow door.
    Image attribution tooltip
    Courtesy of Stitch Fix
    Column

    The Weekly Closeout: Amazon discontinues charity program, Stitch Fix takes to Twitter for CEO search

    The e-commerce giant is ending its AmazonSmile program after a decade and the styling service is seeking out CEO applicants via social media.

    By Retail Dive Staff • Jan. 20, 2023
  • Nordstrom Rack, at Codding Town, Bend, Oregon
    Image attribution tooltip
    Daphne Howland/Retail Dive

    Off-price Rack drags down Nordstrom’s holiday performance

    But the retailer's seasonal results reflect margin consistency, and its focus on inventory management could pay off, some analysts say.

    By Jan. 20, 2023
  • A transparent block on a blue sky background.
    Image attribution tooltip
    Courtesy of Syky

    Web3 fashion startup Syky raises $9.5M

    The company aims to entice shoppers with incentives tied to its non-fungible token.

    By Tatiana Walk-Morris • Jan. 19, 2023
  • store front of Party City
    Image attribution tooltip
    Daphne Howland/Retail Dive

    Judge grants Party City immediate access to $75M bankruptcy loan

    The remainder of a $150 million debtor-in-possession loan will not be released until February.

    By Jan. 19, 2023