Financial News
-
Kaarin Vembar/Retail Dive
ColumnThe Weekly Closeout: Belk unveils fresh board of directors and Finish Line to disappear
The regional department store has a new board while the athletics brand’s stores are being rebannered as JD locations.
By Retail Dive Staff • Oct. 4, 2024 -
Daphne Howland/Retail Dive
As Levi’s pivots to DTC, Dockers may be sold
CEO Michelle Gass said the khakis business “has underperformed for some time” and the company wants to focus on its denim and Beyond Yoga brands.
By Daphne Howland • Oct. 3, 2024 -
"Journeys" by Bentley Mall is licensed under CC BY 1.0 / Edited by https://commons.wikimedia.org/w/index.php?title=User:BentleyMall&action=edit&redlink=1/Retail Dive
Genesco taps Tupperware vet as CFO
Sandra Harris will oversee the company’s accounting, financial planning and analysis, investor relations, treasury, procurement and tax functions.
By Howard Ruben • Oct. 3, 2024 -
Cara Salpini/Retail Dive
Nike CFO notes that ‘a comeback at this scale takes time’ as revenue falls 10%
With a new CEO set to take over, the sportswear giant pulled its guidance for the year and stressed the actions it’s already taking to reset the business.
By Cara Salpini • Oct. 2, 2024 -
Mario Tama via Getty Images
CVS to lay off 2,900 employees amid reports of strategic review
CVS is cutting 1% of its workforce as the healthcare behemoth pursues a massive cost-cutting plan — including a potential breakup of its businesses, according to reports.
By Rebecca Pifer • Oct. 1, 2024 -
vgajic via Getty Images
PwC expects 7% bump in average holiday spending, increased traffic to stores
Despite easing inflation, however, consumers remain selective and motivated by price.
By Daphne Howland • Oct. 1, 2024 -
JP Yi via Getty Images
LVMH sells Off-White to Bluestar Alliance
The New York-based brand management company said the acquisition allows it to build on the legacy of label founder Virgil Abloh, who died in 2021.
By Lara Ewen • Oct. 1, 2024 -
Daphne Howland/Retail Dive
J.C. Penney swings into the red as Q2 sales plunge
The department store’s turnaround is focused on working families, which have been especially hard hit by economic challenges like inflation.
By Daphne Howland • Sept. 30, 2024 -
Joe Raedle via Getty Images
Costco CFO targets lower prices amid ‘effectively flat’ inflation
The big-box retailer lowered the cost of its store brand items as high food prices become a hot-button issue in the presidential election.
By Maura Webber Sadovi • Sept. 30, 2024 -
Courtesy of MeUndies
MeUndies names senior vice president of sales
Elizabeth Dunn, who most recently held the same position with Calvin Klein Intimates, will be focused on growing the DTC brand’s wholesale presence.
By Howard Ruben • Sept. 27, 2024 -
Courtesy of Foot Locker, Inc.
Former Foot Locker exec charged with insider trading
Barry Siegel, who was formerly the senior director of order planning management for North America, has agreed to pay almost $236,000 to settle the case.
By Cara Salpini • Sept. 26, 2024 -
Courtesy of Stitch Fix
Stitch Fix expects return to growth in 2 years
CEO Matt Baer said the company’s cost cuts and customer experience changes are paying off, but warned that “transformations take time.”
By Daphne Howland • Sept. 25, 2024 -
Courtesy of Grove Collaborative
Grove Collaborative snags $15M in new investment, will pay off term debt
Volition Capital noted progress at the consumer products brand since the firm’s first outlay of $10 million and a leadership shakeup last year.
By Daphne Howland • Sept. 24, 2024 -
Anna Moneymaker via Getty Images
Fed cuts main rate by half point, voices confidence that inflation is falling
The central bank trimmed borrowing costs from a two-decade high after policymakers noted their growing concern about a softening labor market.
By Jim Tyson • Sept. 19, 2024 -
"HK TKO zh:將軍澳 Tseung Kwan O PopCorn mall shop in January 2022" by CAHOGNSUIE 202 KADPA is licensed under CC BY-SA 4.0
Would-be Estée Lauder investor has no plans to boost ‘mini-tender’ offer
The luxury beauty and fashion conglomerate said it doesn’t endorse the below-market bid, which doesn’t require typical disclosures because it’s for less than 5% of its outstanding shares.
By Daphne Howland • Sept. 16, 2024 -
Daphne Howland/Retail Dive
Build-A-Bear names chief revenue officer
David Henderson, who previously worked with Hasbro and Melissa & Doug, comes to the retailer after it reported a record Q2.
By Nate Delesline III • Sept. 13, 2024 -
With new investment, Kendra Scott eyes geographic, category growth
Private equity firm 65 Equity Partners has invested an undisclosed amount in the accessories brand, though founder Scott herself retains a majority stake.
By Daphne Howland • Sept. 13, 2024 -
Daphne Howland/Retail Dive
ColumnThe Weekly Closeout: Sephora North America names next CFO and Petco’s losses grow
Ten-year company veteran Delphine Herve will take on the position at the beauty retailer. Meanwhile, the pet retailer saw net loss surge by 70% in Q2.
By Retail Dive Staff • Sept. 13, 2024 -
Courtesy of Big Lots
Big Lots gets court OK for $550M in bankruptcy financing
The funding will allow the bargain-focused retailer to continue normal operations, including paying employees and vendors.
By Nate Delesline III • Sept. 12, 2024 -
Daphne Howland/Retail Dive
GameStop eyes more store closures as sales fall 31%
A store optimization review is underway as the video game retailer continues to face significant obstacles.
By Nate Delesline III • Sept. 11, 2024 -
Permission granted by Shoe Carnival
The big switch: Why Shoe Carnival is flipping some of its stores into Shoe Stations
In a few test locations, stores that were rebannered as Shoe Stations performed “exceptionally well,” according to CEO Mark Worden.
By Kaarin Vembar • Sept. 11, 2024 -
Permission granted by Backcountry
Backcountry acquired by CSC Generation Enterprise
The outdoor gear retailer will continue to operate under its own name and recently moved to expand into wholesale.
By Nate Delesline III • Sept. 10, 2024 -
Cara Salpini/Retail Dive
Under Armour to close California distribution center amid restructuring plan
The decision to exit one of its primary distribution facilities will cost the athletics retailer an additional $70 million in restructuring charges.
By Cara Salpini • Sept. 10, 2024 -
"Lumber Liquidators store, 2321 Ellsworth Road, Ypsilanti Township, Michigan." by Dwight Burdette is licensed under CC BY 3.0
Private equity firm sweeps up LL Flooring, which will stay in business after all
The bankrupt home improvement company, previously Lumber Liquidators, has inked a deal to be acquired by F9 Investments, its largest shareholder.
By Daphne Howland • Sept. 9, 2024 -
Nate Delesline III/Retail Dive
Big Lots files for Chapter 11 bankruptcy
The bargain-focused retailer said Nexus Capital Management has offered a $620 million stalking horse bid.
By Nate Delesline III • Sept. 9, 2024
