Financial News: Page 112
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Petco confidentially files IPO papers
The private equity-owned retailer has seen sales and traffic tick up in the COVID-19 era as pet adoption rises and consumers turn to e-commerce.
By Ben Unglesbee • Nov. 6, 2020 -
CVS picks Aetna exec as next CEO
The company's healthcare investments and medical care emphasis continue to pay off, as its traditional retail operations falter.
By Daphne Howland • Nov. 6, 2020 -
What the past decade did to retail
As 2020 comes to a close, Retail Dive analyzed trends in apparel, venture capital and financialization that shaped the industry. Check out the full series.
By Cara Salpini • Nov. 6, 2020 -
"Pet Valu Store, Pittsburgh" by Tony Webster is licensed under CC BY 2.0
Pet Valu to wind down US operations, close all 358 stores
The specialty pet food and supplies retailer is among the latest to cite the COVID-19 pandemic as placing an irreparable strain on its business.
By Caroline Jansen • Nov. 5, 2020 -
"Clarks Shoes, High Street, SUTTON, Surrey, Greater London" by A P Monblat is licensed under CC BY-SA 4.0
Shoe seller Clarks strikes deal to be taken over by private equity firm
Nearly 200 years old, the brand signed a deal meant to help execute a planned restructuring and survive the COVID-19 era.
By Ben Unglesbee • Nov. 5, 2020 -
Amazon and Williams-Sonoma settle legal battle over IP
The home retailer and e-commerce giant reached an undisclosed agreement over a lawsuit that delved into Amazon's use of brand names on its site.
By Ben Unglesbee • Nov. 4, 2020 -
Q&A
Bed Bath & Beyond's chief brand officer on how data-driven marketing helps it thrive
Cindy Davis detailed how the retailer is transforming digital capabilities for customers seeking inspiration as the pandemic keeps them at home.
By Chris Kelly • Nov. 4, 2020 -
5 forces that stripped apparel sales in the last decade
Consumers in the past 10 years changed their clothes, from fast fashion to resale, and shunned formality. That bankrupted a lot of retailers.
By Daphne Howland • Nov. 4, 2020 -
Wayfair's net income shoots up 164% in Q3
The retailer has capitalized on pandemic-driven trends and notched two consecutive quarters of profitability as a result. But analysts question how long it will last.
By Caroline Jansen • Nov. 3, 2020 -
Bankrupt Stein Mart has a $4M bid for its IP
Setting the baseline for a Nov. 18 auction is Retail Ecommerce Ventures, which may keep Stein Mart alive online after liquidation.
By Ben Unglesbee • Updated Nov. 11, 2020 -
Nike increases layoffs at headquarters to 700
In July, the retailer said it would lay off "at least" 500 employees. That number has now grown as the company pursues the next phase of its strategy.
By Cara Salpini • Nov. 3, 2020 -
Deep Dive
The decade of VC funding that shaped e-commerce and DTC brands
Direct to consumer might be the buzziest trend in retail over the past 10 years, but it's not where all the money's going.
By Cara Salpini • Nov. 3, 2020 -
CBL, PREIT file for bankruptcy as retail's problems hit mall landlords
Both entered Chapter 11 with pre-negotiated deals with lenders, after COVID-19 brought massive revenue declines to the mall operators.
By Ben Unglesbee • Nov. 2, 2020 -
Chico's shores up finances, digital operations amid store closures
With stricter attention to profitability, the company has permanently closed 28 locations this year and plans as many as 50 more.
By Daphne Howland • Nov. 2, 2020 -
B8ta acquires retail-as-a-service startup Re:store
The deal comes after B8ta announced corporate layoffs during the early days of the pandemic.
By Tatiana Walk-Morris • Nov. 2, 2020 -
Deep Dive
How years of investor-friendly finance left retailers vulnerable to crisis
Public and private companies have transferred billions of dollars to their investors over the years. Could that money have saved their business instead?
By Ben Unglesbee • Nov. 2, 2020 -
Pier 1 relaunches as online store
After liquidating its physical stores in Chapter 11, the home brand's IP and online assets were sold to Retail Ecommerce Ventures for $31 million.
By Tatiana Walk-Morris • Oct. 30, 2020 -
Under Armour to exit up to 3K wholesale doors, sell MyFitnessPal
The moves come as the retailer looks to shift to a more DTC-centered approach and drop undifferentiated partners.
By Cara Salpini • Oct. 30, 2020 -
Pandemic fuels blockbuster Amazon Q3 even without Prime Day
But the e-commerce giant seems to have ceded some market share to rivals, which are logging even higher increases in online sales, analysts said.
By Daphne Howland • Oct. 30, 2020 -
Amazon to hire 100K seasonal workers
Other retailers, like Walmart and Target, have also hired for roles devoted to same-day services or e-commerce fulfillment during the holidays.
By Tatiana Walk-Morris • Oct. 30, 2020 -
Rue21 taps former shopping channel exec as CEO
Bill Brand, tasked with expanding the apparel retailer's e-commerce and "creating unique brand experiences," replaces interim chief John Fleming.
By Daphne Howland • Oct. 29, 2020 -
Walmart launches new test stores to further blend tech and in-store ops
The prototype locations will allow the retailer to quickly experiment with ways to make fulfillment more efficient and move in-store inventory online.
By Ben Unglesbee • Oct. 29, 2020 -
LVMH to buy Tiffany for $15.8B, shaving $400M off the price
The agreement is otherwise unchanged from their previous one, wipes away the companies' dueling lawsuits and is expected to close early next year.
By Daphne Howland • Oct. 29, 2020 -
Podcast
The Backroom: How retailers are navigating holiday 2020
As the season kick-starts earlier than ever, the industry braces for a fourth quarter plagued by uncertainty.
By Retail Dive Staff • Oct. 29, 2020 -
Levi's shuffles senior leadership to focus on digital strategy
As the COVID-19 pandemic shifts spending online, the brand will focus on DTC and the digitization of its operations.
By Tatiana Walk-Morris • Oct. 29, 2020