Financial News
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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 Daphne Howland • June 8, 2023 -
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 Nate Delesline III • June 8, 2023 -
Explore the Trendline➔
RgStudio via Getty ImagesTrendlineRetail 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 -
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 -
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 Dani James • Updated 4 hours ago -
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 Dani James • June 7, 2023 -
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 Nate Delesline III • June 7, 2023 -
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 Daphne Howland • June 7, 2023 -
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 Daphne Howland • June 6, 2023 -
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 Caroline Jansen • June 6, 2023 -
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 Nate Delesline III • June 5, 2023 -
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 -
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 -
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 Cara Salpini • June 2, 2023 -
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 Kaarin Vembar • June 2, 2023 -
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 Dani James • June 2, 2023 -
Dollar General cuts guidance, shareholders OK safety audit
The retailer also plans to slow the opening pace of its PopShelf stores this year.
By Nate Delesline III • June 1, 2023 -
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 Daphne Howland • June 1, 2023 -
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 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 Daphne Howland • June 1, 2023 -
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 -
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 Dani James • May 31, 2023 -
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 Dani James • May 30, 2023 -
Big Lots reports ‘disappointing’ quarter, plans store leasebacks
The retailer will also close four distribution centers and imposed a dividend suspension.
By Nate Delesline III • May 30, 2023 -
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 -
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 Cara Salpini • May 26, 2023