Financial News


  • Image attribution tooltip
    Courtesy of Amazon

    Amazon to spend nearly $1B on wage hikes for frontline workers

    Increases start in October and will raise the average starting wage for fulfillment and transportation workers to over $19 an hour, the company said.

    By Sept. 29, 2022
  • A Bed Bath & Beyond sign against a blue sky with puffy white clouds.
    Image attribution tooltip
    Daphne Howland/Retail Dive

    As it works to turn itself around, Bed Bath & Beyond’s sales fall 28% in Q2

    About a month after outlining a plan to steady the business, the struggling home retailer is also sinking deeper into the red.

    By Sept. 29, 2022
  • Trendline

    The direct-to-consumer landscape in retail

    More mature brands are pursuing exit strategies and expanding their reach, while retailers are increasingly shifting to a DTC model.

    By Retail Dive staff
  • Picture of an At Home storefront.
    Image attribution tooltip
    Permission granted by At Home Group

    At Home downgraded as it burns through cash

    The retailer took on debt from a private equity acquisition last year. Then the home goods market tanked. 

    By Sept. 28, 2022
  • An Eddie Bauer mall store entrance mimics a log cabin, with faux wooden pillars and pitched roof.
    Image attribution tooltip
    Daphne Howland/Retail Dive

    Eddie Bauer taps VF Corp exec as new CEO

    Tim Bantle replaces Damien Huang, who stepped down after a year on the job and not long after its acquisition by Sparc Group.

    By Sept. 27, 2022
  • A Knix storefront in Santa Monica
    Image attribution tooltip
    Courtesy of Knix

    Knix acquired for $320M

    The DTC brand was bought by health and hygiene company Essity, with founder Joanna Griffiths maintaining a 20% stake.

    By Tatiana Walk-Morris • Sept. 27, 2022
  • Camping in Spain.
    Image attribution tooltip
    Carlos Alvarez via Getty Images

    Yeti CFO resigns following lukewarm earnings

    Paul Carbone, who took the company public during his first year as CFO, is departing to pursue another venture closer to family after four years in the role.

    By Elizabeth Flood • Sept. 27, 2022
  • A green store banner says "Dollar Tree" against a hazy blue sky.
    Image attribution tooltip
    Daphne Howland/Retail Dive

    Dollar Tree hires new COO in ongoing C-suite revamp

    Michael Creedon, who has led U.S. store operations for Advance Auto Parts, will play a key role as the dollar retailer tries to become more competitive.

    By Sept. 26, 2022
  • Image attribution tooltip
    Purple

    Purple adopts poison pill, forms committee to evaluate takeover bid

    The DTC mattress brand last week received an unsolicited offer from Coliseum Capital Management.

    By Sept. 26, 2022
  • Image attribution tooltip
    Daphne Howland/Retail Dive

    Nordstrom lays off over 200 workers at supply chain facility

    The retailer has been working to make its supply chain faster and more productive as it looks to offset costs and meet pick-up demand. 

    By Sept. 23, 2022
  • Three students play basketball on a Nike Grind court.
    Image attribution tooltip
    Courtesy of Nike

    The Weekly Closeout: Home Depot employees move to unionize and Nike launches recycling program on Alipay

    Philadelphia workers for the home improvement retailer filed with the National Labor Relations Board, while the athletics brand partnered with Ant Group’s Green Energy Initiative.

    By Retail Dive Staff • Sept. 23, 2022
  • A planned Sephora at Kohl's experience
    Image attribution tooltip
    Courtesy of Business Wire

    Kohl’s board unanimously backs CEO

    The retailer is standing behind Chief Executive Officer Michelle Gass amid pressure from an activist investor to replace her and the board’s chair.

    By Sept. 23, 2022
  • Kohl's storefront
    Image attribution tooltip
    Courtesy of Kohl's

    Hedge fund pushes to oust Kohl’s CEO, board chair

    Ancora Holdings, among investors that last year forced changes to the retailer’s board, says CEO Michelle Gass “is no longer well-positioned to lead.”

    By Sept. 22, 2022
  • Destination XL loses marketing chief, names replacement

    Ujjwal Dhoot played a major role in the big-and-tall retailer’s turnaround and hunt for market share. 

    By Sept. 22, 2022
  • A Nike storefront at The Grove shopping center in Los Angeles, California.
    Image attribution tooltip
    Cara Salpini/Retail Dive

    Barclays downgrades Nike on inventory trouble, slowing demand and volatility in China

    The retailer’s strength in North America may no longer be enough to offset its challenges in China, the analysts said.

    By Sept. 21, 2022
  • Stitch Fix subscription box
    Image attribution tooltip
    Courtesy of Stitch Fix

    Stitch Fix is losing customers as it competes against itself

    The e-retailer’s new e-commerce site is stealing sales from its curated box business just as consumers pull back on apparel purchases.

    By Sept. 21, 2022
  • An iRobot Roomba is deployed in a home.
    Image attribution tooltip
    Courtesy of iRobot

    FTC investigates Amazon’s $1.7B bid to acquire iRobot

    The news marks the second acquisition by the mass retailer that the Federal Trade Commission has requested further information on this year. 

    By Sept. 21, 2022
  • A Nordstrom storefront at The Grove shopping center in Los Angeles.
    Image attribution tooltip
    Cara Salpini/Retail Dive

    Nordstrom adopts poison pill

    The retailer’s announcement follows news that Mexican department store company Liverpool acquired a 9.9% stake earlier this month.

    By Sept. 20, 2022
  • Halloween spending to surpass 2021 levels: NRF

    Participation in the holiday is expected to exceed pre-pandemic levels as shoppers return to old habits.

    By Tatiana Walk-Morris • Sept. 20, 2022
  • Image attribution tooltip
    Purple

    Purple receives takeover bid

    Coliseum Capital Management offered to buy the remaining common stock for $4.35 a share, a roughly 56% premium from the brand’s Friday closing price.

    By Sept. 19, 2022
  • A Revlon display in a store
    Image attribution tooltip
    "Revlon" by Mike Mozart is licensed under CC BY 2.0

    Bankrupt Revlon gets court approval for exec bonus plan

    Top executives could collectively receive tens of millions of dollars in incentive bonuses.

    By Sept. 16, 2022
  • Amazon truck loaded for Prime Day.
    Image attribution tooltip
    Courtesy of Amazon

    Amazon sued by California on allegations it blocks price competition

    The state’s attorney general alleges that the e-commerce giant keeps sellers and wholesalers from offering lower prices outside its site.

    By Sept. 15, 2022
  • Patagonia's founder Yvon Chouinard sits at a desk writing.
    Image attribution tooltip
    Courtesy of Patagonia

    Patagonia founder transfers ownership: ‘Earth is now our only shareholder’

    From here on out, “every dollar that is not reinvested back into Patagonia will be distributed as dividends to protect the planet,” the company said.

    By Sept. 14, 2022
  • Why is Family Dollar hacking at its prices amid inflation?

    Hint: The answer starts with ‘D’ and ends with ‘ollar General.’

    By Sept. 14, 2022
  • An Olympia Sports storefront
    Image attribution tooltip
    Courtesy of CriticalPoint Capital

    Olympia Sports files for bankruptcy as it works through liquidation

    The regional sporting goods specialist at its height had 230 stores. After a series of deals and tribulations, it’s winding down to zero.

    By Sept. 13, 2022
  • Person with a mask on looks into a store window while holding shopping bags.
    Image attribution tooltip
    andreswd via Getty Images

    Holiday sales growth expected to slow this season: report

    Inflation is projected to impact consumer spending overall, while e-commerce sales are expected to grow more this season according to Deloitte.

    By Sept. 13, 2022