Financial News: Page 114
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Cara Salpini/Retail Dive
Nike to lay off 'at least' 500 employees at Oregon headquarters
As part of an effort to streamline its organization, the athletics retailer will cut jobs, resulting in up to $250 million in termination costs.
By Cara Salpini • Updated Aug. 3, 2020 -
Retailers join forces in bid to replace the plastic bag
Target, Walmart and Kroger are part of a newly formed, $15 million "Beyond the Bag" program.
By Sam Silverstein • July 23, 2020 -
Courtesy of https://corporate.walmart.com/photos/walmart-store-exterior-at-night
Walmart to close on Thanksgiving
The retailer framed the decision to close U.S. stores on the holiday — for the first time in more than 30 years — as a gesture of thanks to employees.
By Ben Unglesbee • July 22, 2020 -
Courtesy of Ulta
Ulta to 'proactively' close 19 stores, open 30 new ones
The retailer reduced its new store projection for the year and said it plans to take advantage of "new real estate opportunities" created by COVID-19.
By Cara Salpini • July 22, 2020 -
Daphne Howland/Retail Dive
Neiman Marcus launches virtual hub as customers remain wary of indoor shopping
The 113-year-old retailer piloted remote services over a year ago, which is handy now as it works its way out of bankruptcy during a pandemic.
By Daphne Howland • July 22, 2020 -
Cara Salpini/Retail Dive
Tapestry CEO abruptly resigns
CFO Joanne Crevoiserat takes over in the interim as the company works to replace Jide Zeitlin.
By Daphne Howland • Updated July 23, 2020 -
Permission granted by Sephora
Sephora to cut 117 jobs in restructuring
Some of the roles come from its J.C. Penney partnership as the pandemic pushed the beauty retailer to accelerate a review of its corporate structure.
By Cara Salpini • July 21, 2020 -
Tailored Brands to close up to 500 stores, slash corporate workforce 20%
The Men's Wearhouse owner also announced the departure of its CFO and the creation of a new chief restructuring officer role.
By Kaarin Moore • July 21, 2020 -
Nordstrom lays off 521 in Seattle
After closing 16 full-line stores and withholding rent, the retailer has said it's working to cut non-store expenses by 20%.
By Daphne Howland • July 21, 2020 -
L.L. Bean launches first wholesale partnerships
The 108-year-old retailer is expanding its omnichannel efforts by working with Nordstrom, Staples and Midwestern sporting goods retailer Scheels.
By Kaarin Moore • July 21, 2020 -
Daphne Howland/Retail Dive
Retailers call on the nation's governors to mandate masks
The lack of unified political leadership around face coverings that prevent contagion of COVID-19 is "simply irresponsible," 21 retail CEOs said Monday.
By Daphne Howland • July 20, 2020 -
Dollar Tree names new CEO
Michael Witynski is taking on the chief executive role as the pandemic continues to drive business to the dollar store segment.
By Kaarin Moore • July 20, 2020 -
Daphne Howland/Retail Dive
Bloomberg: Mall owner CBL prepping a Ch. 11 filing
The company would be the first major mall REIT to buckle under the pressures that have been intensified by the pandemic.
By Daphne Howland • July 20, 2020 -
Daphne Howland/Retail Dive
Macy's, Neiman Marcus look to resume exec payments as department store woes continue
One has already reinstated equity bonuses while the other is under scrutiny in bankruptcy for its cash bonus plan.
By Ben Unglesbee • July 17, 2020 -
Daphne Howland/Retail Dive
Is the pandemic giving Gap Inc. one last chance?
Current conditions may make it easier for the retailer to rightsize its footprint, grow its athleisure brand and boost Old Navy, Wells Fargo analysts said Friday.
By Daphne Howland • July 17, 2020 -
Courtesy of Walmart corporate blog
Walmart to customers: Everybody must get masked
Target is the latest to require shoppers to cover their faces in all stores, joining the retail giant, as well as Best Buy, Kohl's and Costco, among others.
By Daphne Howland • July 16, 2020 -
Courtesy of Ulta
Ulta launches Conscious Beauty initiative
Starting in the fall, the beauty retailer will certify brands under various pillars, like cruelty free, vegan and sustainable packaging.
By Cara Salpini • July 16, 2020 -
J.C. Penney to cut 1K jobs as it shrinks in bankruptcy
As the retailer closes stores, it's letting go of corporate and other support staff, with the clock ticking on its progress through Chapter 11.
By Ben Unglesbee • July 16, 2020 -
Daphne Howland/Retail Dive
Neiman Marcus may close 4 stores for good
The bankrupt retailer says marketing the leases is an effort to monetize their value and that it's "always assessing" its footprint to ensure that it's optimal.
By Daphne Howland • July 15, 2020 -
Retrieved from The Paper Store on July 15, 2020
The Paper Store files for Ch. 11, plans to sell itself
The regional gift retailer missed some of its most important sales days of the year due to COVID-19 closures.
By Ben Unglesbee • July 15, 2020 -
PVH to close Heritage Brands stores, cut 450 jobs
The mid-priced apparel brands already get 83% of their revenue from wholesale, and will permanently shut 162 company-run outlet locations.
By Daphne Howland • July 15, 2020 -
Courtesy of Walmart
Is Walmart getting the customer it always wanted?
Stellar results during the COVID-19 pandemic and a new loyalty membership suggest it may be. But that could hamper its "everyday low prices" promise.
By Daphne Howland • July 15, 2020 -
RTW Retailwinds' journey into bankruptcy
After more than a century as a physical retailer, the New York & Co. brand is likely to survive only online after COVID-19 dealt a devastating blow.
By Ben Unglesbee • July 14, 2020 -
Courtesy of Paper Source
Paper Source introduces subscription box, virtual craft classes
The retailer aims to offer customers a way to keep kids and adults engaged and creative while sheltering in place.
By Tatiana Walk-Morris • July 14, 2020 -
Iconix Brand Group considers potential sale
The company had past success by tapping into trends that were backed by celebrities, but struggled as the department store sector declined.
By Kaarin Moore • July 14, 2020
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