Financial News

  • A clear soy sauce bottle with brown sauce on a table surrounded by food and plates
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    Permission granted by Momofuku Goods

    Momofuku Goods raises $17.5M

    The pantry essentials brand was spun off from Momofuku in 2020 and will use the funding to grow its product offerings in an increasingly competitive field.

    By • March 23, 2023
  • External shot of an Ollie's.
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    The image by JJBers is licensed under CC BY 2.0

    Ollie’s aims to grow footprint to over 1,000 stores

    By fiscal 2024, the closeout retailer plans to expand its distribution center network to support 700 stores.

    By • March 23, 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
    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
  • Chewy, fulfillment center
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    Permission granted by Chewy

    Chewy plots international expansion

    The online pet retailer is planning its first venture outside of the U.S. over the next few quarters, executives said Wednesday.

    By • March 23, 2023
  • Cosmetics on a table.
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    iStock via Getty Images

    L’Oréal takes a step toward more sustainable ingredients with investment in Geno-led venture

    The beauty giant joins Unilever as a founding investor in the venture, which aims to develop alternatives to frequently used ingredients.

    By • March 23, 2023
  • Paper saying notice of loan default
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    KLH49 via Getty Images

    US retail sector leads corporate defaults: S&P Global

    Retail faces continuing challenges with logistics, labor and supplier cost inflation, which is squeezing margins, as consumers pull back.

    By • March 22, 2023
  • A Petco storefront. There is a white van parked outside and a person walking in the store.
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    Permission granted by Petco

    Petco adds 1M customers in 2022

    The retailer is leaning into its health and wellness offerings, introducing a pet food subscription service in partnership with Freshpet.

    By • March 22, 2023
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    Daphne Howland/Retail Dive

    GameStop posts first quarterly profit in two years

    CEO Matt Furlong said the company will continue cost cutting and cost containment to help sustain profitability.

    By • March 22, 2023
  • A Nike storefront at The Grove shopping center in Los Angeles, California.
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    Cara Salpini/Retail Dive

    Nike touts ‘tremendous progress’ on inventory as sales grow 14%

    Much of the retailer’s recent revenue surge has been driven by markdowns, analysts said, and inventory is still up 16% year over year.

    By • March 22, 2023
  • Exterior of a DSW store.
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    "DSW" by Mike Mozart is licensed under CC BY 2.0

    DSW parent undergoes layoffs as the company ‘pares back every line of spending possible’

    Designer Brands is actively working to cut back, even as it builds out its owned brand strategy.

    By • March 22, 2023
  • The Vitamin Shoppe storefront
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    Courtesy of The Vitamin Shoppe

    The Vitamin Shoppe owner gets buyout offer topping $1B

    Franchise Group’s management in January had reportedly considered taking the company private themselves for a similar price. 

    By • March 21, 2023
  • The founders of running brand On
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    Courtesy of On

    On reports a profitable year with DTC, wholesale growth

    The brand saw net sales increase by 91.9% in its fourth quarter, and it will be expanding into tennis while it grows its focus on running.

    By • March 21, 2023
  • Puffy clouds in a blue sky frame a storefront that says "Bed Bath & Beyond" in large dark letters.
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    Daphne Howland/Retail Dive

    Bed Bath & Beyond proposes reverse stock split

    The move is the distressed retailer’s latest tactic to "generate greater investor interest in the company.” 

    By • March 20, 2023
  • A Champs storefront
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    Courtesy of Champs

    Foot Locker to shutter 400 mall-based stores by 2026

    As the retailer looks to simplify its business, CEO Mary Dillon also said the company is “revitalizing” its Nike partnership.

    By • March 20, 2023
  • DressX team posing
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    Courtesy of DressX

    Virtual clothing platform DressX raises $15M

    Founded in 2020, the metaverse fashion company sells its digital clothing on marketplace platforms like Roblox, Meta and others.

    By • March 20, 2023
  • Barbie Balmain collaboration
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    Courtesy of Mattel

    Mattel CFO sees movie tie-in boosting Barbie sales

    The toymaker had a tough 2022, but CFO Anthony DiSilvestro expects the outlook to improve and says parents will always prioritize spending on their children.

    By Chris Gaetano • March 20, 2023
  • A white canvas tote bag with green handles and green embroidered stitching.
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    Courtesy of LL Bean

    Ironic totes help deliver L.L. Bean’s second-best revenue year

    The Maine outdoor retailer, best known for its iconic boots, plans to expand inclusive sizing after seeing sales rise 15% in that segment.

    By • March 17, 2023
  • Three people in bed with eye masks on surrounded by audio equipment.
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    Courtesy of Purple

    Purple sets sights on premium customer

    Helped by its September acquisition of Intellibed, the DTC brand is positioning itself within the higher-end mattress market.

    By • March 17, 2023
  • Exterior shot of a Dollar General store.
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    Courtesy of Dollar General

    Dollar General to spend $100M on staffing and stores

    The retailer plans to sustain its store opening momentum, with more than 1,000 new locations planned this year.

    By • March 17, 2023
  • A warm beige makeup bottle with a drawing of a cactus on it
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    Courtesy of The Honest Company

    The Honest Company to raise prices amid growing losses

    The brand saw its Q4 net loss increase by about 40% year over year and it projects fiscal 2023 revenue to be flat with 2022. 

    By • March 17, 2023
  • A display of clothing in the interior of an apparel store.
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    Courtesy of Lands' End

    Kohl’s marketplace gives Lands’ End a much-needed boost

    Amid a raft of declines, revenue from third-party sellers was up year over year, and the brand will soon add Macy’s marketplace to the roster.

    By • March 16, 2023
  • A Five Below employee assists a customer at the checkout counter
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    Courtesy of Five Below

    Five Below to expand higher-priced Five Beyond concept to 400 stores

    The retailer will also open 200 locations this year as it looks to expand its shop-in-shop of products over $6.

    By • March 16, 2023
  • Green shelves with clear and colorful cleaning bottles next to paper towel rolls
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    Permission granted by Grove Collaborative

    Grove Collaborative launches wellness hub to fuel growth

    CEO Stuart Landesberg spoke with Retail Dive about the creation of Grove Wellness and how it will support the company’s product innovation. 

    By • March 15, 2023
  • Block letters on wood paneling and a small sign jutting from a light stone building all read "J. Jill," above a store window.
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    Daphne Howland/Retail Dive

    J. Jill aims to grow store footprint, eventually

    The apparel retailer ended the year with fewer stores and may close more, but it ultimately aims to “grow this important channel,” executives said.

    By • March 14, 2023
  • Exterior of a brick building with the Etsy name on it.
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    Courtesy of Etsy

    ‘An existential threat’: Brands react to Silicon Valley Bank’s collapse

    SVB was closed on Friday and taken over by federal regulators, leaving some brands in the dark about how they would access their capital.

    By • March 13, 2023
  • A store with a bright green facade reads "Joann" in capital letters, and in smaller script says "handmade happiness."
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    Courtesy of Joann

    Joann shores up liquidity ahead of Q4 report

    The crafts retailer, which made Retail Dive’s bankruptcy watchlist last year, has seen sales fall and costs rise after a pandemic boom.

    By • March 13, 2023