Financial News

  • Neiman Marcus store in Friendship Heights, Maryland
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    Daphne Howland/Retail Dive
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    Excess inventory at Neiman Marcus squeezes Q3 margins

    Some consumers showed wariness in the period, but the department store said its top customers, brands and stores continue to do well.

    By • June 8, 2023
  • Lit-up store windows show mannequins wearing apparel, including dresses on the left and jeans and a jacket on the right. The banner name "J.Jill" is above and to each side of the door.
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    Courtesy of J. Jill
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    J. Jill refinances long-term debt, plans new POS

    After warning of potential bankruptcy in 2020, the retailer is now focused on investments to enhance its omnichannel capabilities.

    By • June 8, 2023
  • An online shopper is sitting outside on the street and is ordering something on her mobile phone with a credit card in hand. Explore the Trendline➔
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    RgStudio via Getty Images
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    Trendline

    Retail Dive's DTC outlook for 2023

    A look at DTC trends and predictions for what direct-to-consumer brands can expect in the year ahead.

    By Retail Dive staff
  • A tan swatch of mycelium leather against a teal background.
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    Courtesy of Ecovative
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    Mycelium technology company Ecovative raises over $30M

    The company plans to increase production of its Forager line of hides and flexible foams ahead of new brand partner footwear and apparel launches.

    By Lara Ewen • June 8, 2023
  • Exterior sign for a GameStop store.
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    Daphne Howland/Retail Dive
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    GameStop CEO fired, Ryan Cohen appointed executive chairman

    Matt Furlong has served as chief executive since June 2021. Meanwhile, the company canceled its first-quarter earnings call on Wednesday.

    By • Updated 4 hours ago
  • Two girls jumping on a couch
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    Courtesy of Lovesac
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    Lovesac C-suite shifts while Q1 net sales increase

    The furniture brand’s CFO and chief strategy officers are retiring effective June 30 while the company looks to invest in tech for growth.

    By • June 7, 2023
  • Adidas employees gather around a screen that says "Feedback."
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    Courtesy of Adidas
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    Adidas offers student loan help for US employees

    The company is also offering free financial coaching, as 80% of employees say that student debt is stressing them out.

    By • June 7, 2023
  • A cardboard box with a round light-blue logo and the words "Stitch Fix" leans against a bright yellow door.
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    Courtesy of Stitch Fix
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    Stitch Fix mulls exiting the UK amid ongoing sales declines

    The apparel box e-retailer, focused on profits and expense cuts, is closing two warehouses. But analysts wonder when revenues will rebound.

    By • June 7, 2023
  • Joann store.
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    Courtesy of Joann
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    Joann looks to private labels to help cut costs, boost sales

    Falling freight expenses are also getting the sewing and crafts retailer closer to its $200 million savings goal, announced earlier this year.

    By • June 6, 2023
  • Great Jones Dutch Baby Enameled Cast Iron Round Dutch Oven.
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    Courtesy of Great Jones
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    Great Jones sold to maker of KitchenAid, Farberware

    Under Meyer, the DTC cookware brand’s co-founder and CEO, Sierra Tishgart, will continue to lead the brand.

    By • June 6, 2023
  • The exterior of a Five Below store during the daytime with a blue sky
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    Courtesy of Five Below
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    Five Below sales up nearly 14% as it scoops up Tuesday Morning leases

    The retailer is also on track to convert 400 stores to its higher-priced Five Beyond format before the end of the year.

    By • June 5, 2023
  • Person using lab equipment.
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    Courtesy of Debut, L'Oreal
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    L’Oréal’s VC firm invests in biotech company Debut

    The $34 million series B funding round was led by the beauty giant in order to bring novel bioactive cosmetic ingredients and products to consumers. 

    By Tatiana Walk-Morris • June 5, 2023
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    BarkBox
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    Bark’s Q4 revenue takes a hit as order volume falls

    By channel, the BarkBox and Super Chewer parent company saw DTC revenue fall 1.5% year over year, while wholesale revenue fell 9.3%.

    By Howard Ruben • June 5, 2023
  • A white brick Lululemon storefront in WIlliamsburg, Virginia
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    Dani James/Retail Dive
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    Lululemon rides 60% international growth to $2B quarter

    Greater China in particular grew 79%, and the region will account for the majority of international store openings planned for the year.

    By • June 2, 2023
  • A black store banner reads "Victoria's Secret."
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    Daphne Howland/Retail Dive
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    Victoria’s Secret prepares to relaunch Pink following challenging Q1

    Sales in North America were “more promotional than planned,” according to CEO Martin Waters. 

    By • June 2, 2023
  • A Dr. Martens storefront on Abbot Kinney Boulevard in California.
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    Cara Salpini/Retail Dive
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    Dr. Martens reaches revenue milestone while sales in the Americas disappoint

    The footwear company attributed its struggle in the region to a poor transition of distribution centers and its marketing campaigns.

    By • June 2, 2023
  • A Dollar General storefront at nighttime featuring the company's signature yellow and black sign
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    Courtesy of Dollar General
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    Dollar General cuts guidance, shareholders OK safety audit

    The retailer also plans to slow the opening pace of its PopShelf stores this year. 

    By • June 1, 2023
  • Four birch trees to left of a light brick wall with a red star and a "Macy's" sign, with a small row of bushes in snow.
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    Daphne Howland/Retail Dive
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    Macy’s slashes outlook after weak Q1

    The department store has fared worse this year than it expected, and is bracing for customers to continue to pull back in coming months.

    By • June 1, 2023
  • External shot of a Williams Sonoma store.
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    Spencer Platt via Getty Images
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    Higher shipping costs keep biting into Williams-Sonoma’s earnings

    The retailer has shipped from out-of-market distribution centers and made multiple deliveries for multi-unit products in order to reach customers quicker.

    By Max Garland • June 1, 2023
  • Nordstrom New York
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    Daphne Howland/Retail Dive
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    Nordstrom gains steam in Q1, especially in off-price

    After a soft start to the quarter, sales gained momentum in April, thanks in large part to merchandise improvements at Rack, executives said Wednesday. 

    By • June 1, 2023
  • A hand holds a bundle of herbs above a fiery double-decker grill with Meati Steaks and Cutlets with grill marks on the bottom left, asparagus on the bottom right, and a frying pan of stir fry and corn
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    Courtesy of Meati Foods
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    VC funding for food and beverage plunging amid challenging environment, data shows

    Over the last four quarters, the amount raised and the number of deals have fallen significantly compared to the prior year, according to PitchBook.

    By Christopher Doering • May 31, 2023
  • A hand holds a yellow paint roller on top of a tray with light blue paint
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    Courtesy of Clare
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    DTC paint brand Clare to raise prices

    The cost of a gallon of paint will increase by an average of 8% as the company faces “outsized inflation,” CEO Nicole Gibbons said in an email to customers.

    By • May 31, 2023
  • A Hoka storefront in Los Angeles
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    Cara Salpini/Retail Dive
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    Hoka to hit $2B in sales as DTC channel grows

    The athletic footwear brand reported its fourth consecutive year of revenue growth above 50%, according to Deckers CEO Dave Powers.

    By • May 30, 2023
  • Big Lots to remain open on Thanksgiving.
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    Courtesy of Big Lots
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    Big Lots reports ‘disappointing’ quarter, plans store leasebacks

    The retailer will also close four distribution centers and imposed a dividend suspension. 

    By • May 30, 2023
  • Dollar Tree storefront.
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    Flickr; Mike Mozart
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    Column

    The Weekly Closeout: Dollar Tree margins pressured by inflation, Tuesday Morning IP up for sale

    The dollar chain is seeing a pullback on discretionary purchases, while Hilco Streambank seeks a buyer for the discount home retailer’s assets.

    By Retail Dive Staff • May 26, 2023
  • A sign that reads "try love buy" in front of a range of beauty displays at an Ulta Beauty shop-in-shop inside of a Target.
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    Cara Salpini/Retail Dive
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    Ulta to put fragrance behind locked cabinets in 70% of stores thanks to increased theft

    The beauty retailer, with Q1 sales growth topping 12%, said it’s investing in security guards and police presence in parking lots to deter crime.

    By • May 26, 2023