Financial News

  • 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
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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 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
  • A building with a pitched roof and "Athleta" in big block letters is seen at a slant from below.
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    Daphne Howland/Retail Dive
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    Gap Inc. losses shrink in Q1 as sales continue to slide

    Major cost cuts, including the elimination of some 2,300 jobs in recent months, are helping stabilize the bottom line.

    By • May 26, 2023
  • A dark blue van with the word "Geek" in large white letters is parked in a lot.
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    Daphne Howland/Retail Dive
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    Best Buy CEO: ‘2023 will be the bottom’ for falling electronics sales

    Profits and revenue declined in Q1, driven by falling computer, appliance, home theater and mobile phone sales, executives said Thursday.

    By • May 25, 2023
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    Kendall Davis/Retail Dive
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    Podcast

    The Backroom: How the consumer is doing so far this year

    Discretionary goods are a low priority amid an uncertain economy and a desire to spend on experiences, but retailers are holding their own. What about the rest of 2023?

    By Retail Dive Staff • May 25, 2023
  • A Sephora at Kohl's location
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    Courtesy of Kohl's
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    Citing progress in Q1, Kohl’s will open new stores, avoid closures

    The department store is working on its turnaround this year, leaning heavily on its Sephora partnership to drive sales and traffic.

    By • May 24, 2023
  • The entrance to a store with the word "Express" repeated above each glass door.
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    Daphne Howland/Retail Dive
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    Express closes on Bonobos acquisition as sales fall 15%

    The apparel retailer has hired advisers to help it cut costs as losses pile up.

    By • May 24, 2023
  • External shot of a Dick's Sporting Goods store.
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    Daphne Howland/Retail Dive
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    Dick’s plans 9 House of Sport stores in 2023 as sales rise 5.3%

    Unlike Foot Locker, the sporting goods retailer said its consumer is holding up well as it reaffirmed its full-year outlook.

    By • May 24, 2023
  • A group of people in custom suits stand in front of a red wall.
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    Courtesy of Indochino
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    Indochino saw ‘record setting’ revenue in Q1

    The privately held DTC brand attributed the sales to its expanded women’s offering, diversified partnerships and strong shop-in-shop execution.

    By Howard Ruben • Updated May 25, 2023
  • Celebrity Ariana Grande poses with a beauty product while wearing a black outfit
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    Courtesy of R.e.m. Beauty
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    Ariana Grande’s R.e.m. Beauty receives investment from Sandbridge Capital

    The makeup company hopes to optimize its “global potential.” The celebrity bought back the brand's assets in February.

    By • May 23, 2023
  • A white truck is parked in front of a Lowe's store on a clear, bright day.
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    Daphne Howland/Retail Dive
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    Lowe’s lowers full-year guidance as DIY spending softens in Q1

    Despite near-term economic pressures, the home improvement chain said it has a generally positive long-term outlook.

    By • May 23, 2023
  • Sundry
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    Retrieved from Sundry on January 25, 2022
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    Digital Brands Group sees potential for 50 retail stores

    Thanks mostly to its acquisition of women's apparel brand Sundry, the direct-to-consumer company reported a net revenue increase of 48% in Q1.

    By • May 22, 2023
  • A group of Yeezy shoe products on a beige background.
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    Courtesy of Adidas
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    Adidas to resume selling Yeezy products at the end of May

    It’s the first time the products have been up for sale since Adidas broke ties with Kanye West, also known as Ye, in October.

    By • May 22, 2023
  • Exterior shot of The Container Store.
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    Courtesy of The Container Store
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    The Container Store announces layoffs

    The retailer employs over 5,000 people, but would not disclose the number of jobs impacted. 

    By • May 22, 2023
  • The exterior of a store with a banner that reads "Bath & Body Works."
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    Courtesy of Bath & Body Works
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    Bath & Body Works will launch hair care products in 560 stores this summer

    The chain is looking for ways to grow and find new customers as its booming pandemic-related sales subside.

    By • May 19, 2023
  • Foot Locker storefront
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    Cara Salpini/Retail Dive
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    Foot Locker sales fall 11% as consumers pull back on spending

    Planning for larger declines than anticipated, the retailer slashed its full-year guidance and brought on a Kohl’s veteran as chief financial officer.

    By • May 19, 2023
  • The exterior of a Walmart store at night
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    Courtesy of Walmart
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    Walmart sales up 7.6% as shoppers hunt for low prices

    Cheap groceries and household goods are drawing in more customers, including higher-income ones, but analysts say few are buying more than that.

    By • May 18, 2023
  • Canada Goose's first footwear campaign
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    Courtesy of Canada Goose
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    Canada Goose revenue jumps in Q4 as it focuses on DTC

    The brand is leaning into its direct-to-consumer channel, which saw sales increase 22.6% in the period, as it plans to open 16 stores in fiscal 2024.

    By • May 18, 2023
  • EBay corporate building in Berlin
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    Courtesy of EBay
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    EBay acquires tech company Certilogo to boost secondhand fashion authentication

    Certilogo uses digital tech to give consumers access to information about products and confirm their authenticity. 

    By Tatiana Walk-Morris • May 18, 2023
  • A person walks into a store with a bright red front and a white target sign, its doors trimmed in red.
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    Daphne Howland/Retail Dive
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    Target sales flat as retailer warns of $500M profit hit

    Consumers stuck to basics in Q1, while the retailer is expecting a significant financial impact due to inventory shrink.

    By • May 17, 2023
  • A storefront is seen at an angle, with "T.J. Maxx" in bright red letters, against a blue sky streaked with light clouds.
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    Daphne Howland/Retail Dive
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    TJX pulls further ahead of rivals as Q1 profits, margin surge

    The off-pricer has long been a leader in the segment, but is expanding its appeal to consumers as well as brands, BMO Capital Markets analysts said.

    By • May 17, 2023