Financial News

  • A Dollar General storefront at dawn or dusk with an empty parking lot
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    Permission granted by Dollar General
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    Dollar General sees ‘cash-strapped consumer,’ cuts guidance

    The company said its core base of lower-income shoppers had less to spend, as it reported top-line results that were below expectations for Q2.

    By • Aug. 30, 2024
  • Exterior of an Ulta store
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    Kaarin Vembar/Retail Dive
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    Ulta slashes guidance again on flat sales and declining comps

    Usually a high performer, the beauty retailer is losing share and struggling with the impacts of Sephora’s broad expansion at Kohl’s.

    By • Aug. 30, 2024
  • Storefront of Abercrombie & Fitch in a mall. Store windows on the left and right have mannequins wearing long pants and shirts.
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    Courtesy of Abercrombie & Fitch
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    Column

    The Weekly Closeout: Pacsun names CFO, Abercrombie posts ‘record’ Q2 net sales

    The teen retailer hired BowFlex, Inc. veteran Aina Konold, while the apparel company saw sales increase 21% year over year to $1.1 billion.

    By Retail Dive Staff • Aug. 30, 2024
  • Singer Troye Sivan, wearing a white tee and loose-cut jeans, stands in front of beige background in an ad for Gap
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    Permission granted by Gap
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    Gap Inc. CEO: ‘We’re running a fundamentally stronger business’

    The retailer gained share in Q2, with Old Navy and namesake Gap making strides. Can the momentum continue?

    By • Aug. 30, 2024
  • A person with white wired headphones and a white bag stands outside a clothing store.
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    Daphne Howland/Retail Dive
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    A slowing women’s business is hurting Lululemon’s growth

    While CEO Calvin McDonald said the Breezethrough leggings debacle had a “negligible impact” on its sales, the brand continues to suffer from other merchandise misses.

    By • Aug. 30, 2024
  • Billowy clouds in a blue sky above a storefront.
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    Daphne Howland/Retail Dive
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    Best Buy revenue falls 3% in Q2

    The electronics retailer is updating in-store merchandising across multiple categories as it increasingly competes with big-box rivals for market share. 

    By • Aug. 30, 2024
  • A display window below a blank banner that reads "Victoria's Secret" and contains three photos: A closeup portrait of a person's face, a perfume bottle, and a zoomed out portrait of the person.
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    Daphne Howland/Retail Dive
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    Is Victoria’s Secret finally on the upswing?

    Ahead of welcoming a new CEO, the intimates giant bumped up its expectations for the year and the third quarter, when its Fashion Show returns.

    By • Aug. 29, 2024
  • Dark clouds over a store entrance. A brick-red exterior wall with a "Kohl's" sign.
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    Daphne Howland/Retail Dive
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    Kohl’s CEO ‘disappointed’ with 4.2% sales drop in Q2

    As the retailer nears having a Sephora in every store and 200 Babies R Us openings, there's still “work to do” to improve apparel and footwear sales, the executive said.

    By • Aug. 29, 2024
  • A store display featuring basketball-style flooring and mannequins, with walls of basketball shoes and "Home Court" written on the ceiling.
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    Courtesy of Foot Locker
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    Foot Locker to exit several international markets, move headquarters to Florida

    Yet another cost-cutting and simplification effort will see the retailer exit South Korea, Denmark, Norway and Sweden by mid-2025, and switch its New York City base for one in St. Petersburg, Florida.

    By • Aug. 28, 2024
  • A Nordstrom Rack store in Seattle, across the street from the flagship Nordstrom store.
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    Daphne Howland/Retail Dive
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    Anniversary Sale, Rack propel Nordstrom’s Q2 sales

    Strong regular-price sales also helped boost margins, but the retailer raised its guidance only slightly.

    By • Aug. 28, 2024
  • Exterior of a Bonobos store in Washington, D.C.'s Georgetown neighborhood
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    Caroline Jansen/Retail Dive
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    What lies ahead for Bonobos under new ownership

    The DTC darling has changed hands several times over the past decade. Does that matter?

    By • Aug. 28, 2024
  • Big Lots to remain open on Thanksgiving.
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    Courtesy of Big Lots
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    Big Lots offers $5.2M in retention bonuses to 4 executives

    The move could signal a potential bankruptcy on the horizon, according to Debtwire's global head of legal and restructuring.

    By • Aug. 27, 2024
  • Closeup of a person's hands holding several credit cards.
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    Joe Raedle / Staff via Getty Images
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    Consumers tap credit cards, loans to manage inflation: Fed report

    Gen Z and millennials were the age groups most likely to use loans and credit cards in response to higher prices, a Federal Reserve research report said.

    By Lynne Marek • Aug. 27, 2024
  • A person wearing sunglasses walks past a store.
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    Daphne Howland/Retail Dive
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    Urban Outfitters sees return to ‘pre-COVID behavior’ as sales slow in recent weeks

    The apparel conglomerate’s CEO said that, starting in July, already careful shoppers grew even more selective, which could be a new reality.

    By • Aug. 23, 2024
  • A store sign that says "Ace Hardware & Rental," against a bright blue sky with puffy white clouds.
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    "Ace Hardware" by Mike Mozart is licensed under CC BY 2.0
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    Ace Hardware sales up 3% as it leans into stores

    The retailer debuted its Elevate Ace store concept in the quarter and is on track to open 200 stores by the end of the year.

    By • Aug. 23, 2024
  • Three people standing near each other wearing apparel items from Hollister's Collegiate Graphics Shop collection
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    Courtesy of Hollister
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    Column

    The Weekly Closeout: Amazon’s October sales event returns and Hollister goes back to school

    The e-commerce giant is prepping for its unofficial holiday kickoff event, while the apparel brand launched a collection featuring over 30 U.S. universities.

    By Retail Dive Staff • Aug. 23, 2024
  • A person doing a squat while holding weights and following an instructional Peloton video, with the exercise brand's Peloton Bike also in view.
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    Permission granted by Peloton
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    Peloton projects nearly 10% sales decline for the year

    CFO Liz Coddington expects “softness” in connected fitness demand in the medium term, but remains optimistic about the category’s growth potential.

    By • Aug. 22, 2024
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    insta_photos via Getty Images
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    Survey: 31% of back-to-school shoppers will take on debt

    While that’s relatively flat to 2022, there are fewer shoppers this year opting for cheaper brands or using other money saving strategies, Bankrate found.

    By • Aug. 22, 2024
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    Daphne Howland/Retail Dive
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    Same day services, price cuts drive Target growth in Q2

    Results show that deal-hunting consumers are “still willing and able to spend,” said the retailer’s Chief Commercial Officer Rick Gomez. 

    By • Aug. 21, 2024
  • Four white sneakers with contrasting dark stripes are posed on a tri-tone background.
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    Courtesy of Unified Commerce Group
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    Steve Madden sells Greats to Unified Commerce Group

    The upscale sneaker label will join apparel brands Frank And Oak and Spiritual Gangster on the growing retail platform.

    By Lara Ewen • Aug. 21, 2024
  • People walking down the street, past storefronts.
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    Daphne Howland/Retail Dive
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    Macy’s Q2 sales disappoint as stores slated for closure post steep declines

    The department store is preparing for its all-important holiday quarter with a value message that goes beyond discounts, executives said.

    By • Aug. 21, 2024
  • A white truck is parked in front of a Lowe's store on a clear, bright day.
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    Daphne Howland/Retail Dive
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    Lowe’s lowers guidance amid Q2 sales, profit declines

    The home improvement retailer was hit by bad weather and a soft housing market, but some analysts say it’s poised to take share.

    By • Aug. 20, 2024
  • Basketball star Steph Curry holds a basketball with Under Armour founder Kevin Plank.
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    Courtesy of Under Armour
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    Deep Dive

    Kevin Plank can’t let go of Under Armour. Is that hampering a turnaround?

    Three CEOs have come and gone in the four years since Plank stepped down. Now, the sportswear brand’s founder is back with another plan to revive the brand amid flagging sales and relevance.

    By • Aug. 19, 2024
  • A person wearing a dark suit, light blue shirt and light pink necktie.
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    Noam Galai via Getty Images
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    Fabrizio Freda prepares to step down as Estée Lauder CEO

    Freda has been at the helm for 16 years and will exit in the midst of a turnaround that has entailed layoffs and other leadership change.

    By • Aug. 19, 2024
  • Plants on a ledge to the left of a storefront sign.
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    Courtesy of Dillard's
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    Dillard’s Q2 disappoints as net income plunges

    The company said it’s working to better align expenses with sales, but UBS analysts warn that margin and profit declines will likely continue.

    By • Aug. 16, 2024