Financial News: Page 115
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Courtesy of Simon Property Group
When the mall owns the retailer
Bankruptcy court has emerged as a shopping mecca for Sparc Group, the 50-50 partnership between Simon Property Group and Authentic Brands.
By Daphne Howland • Aug. 17, 2020 -
Courtesy of Rent the Runway
Rent the Runway ditches stand-alone locations
The company will focus on its dropbox network in order to serve more customers, who tend to live outside the major cities where it ran stores.
By Daphne Howland • Aug. 17, 2020 -
Sur La Table sells for nearly $90M in bankruptcy
Marquee Brands and CSC Generation will assume control of the kitchenware retailer and preserve a large chunk of its stores.
By Ben Unglesbee • Aug. 14, 2020 -
Courtesy of Walmart corporate blog
July retail sales were OK. August may be another story.
If the government doesn't renew its pandemic relief, last month's numbers could be as good as it gets this year.
By Daphne Howland • Aug. 14, 2020 -
Courtesy of Tapestry via Businesswire
Tapestry 'reevaluating the role of stores'
Under interim leadership, the apparel conglomerate is taking aggressive steps to rein in costs and boost profits.
By Daphne Howland • Aug. 13, 2020 -
Daphne Howland/Retail Dive
Can Neiman Marcus finally leave its baggage behind after bankruptcy?
The fast-growing MyTheresa was been called the luxury retailer's "crown jewel." Legal fights over the e-commerce unit have haunted it since 2018.
By Ben Unglesbee • Aug. 13, 2020 -
Simon-Authentic Brands venture snaps up Lucky Brand
The firms have worked together on several deals to acquire ailing retailers, including a $325 million Brooks Brothers purchase approved Wednesday.
By Daphne Howland • Aug. 13, 2020 -
Stein Mart might have survived COVID-19, and then the virus surged again
A canceled sale, burnt cash and new spikes of infections in key states combined to bankrupt the discount retailer.
By Ben Unglesbee • Aug. 13, 2020 -
Simon Property Group, Authentic Brands venture wins Brooks Brothers with $325M bid
By the end of the month, the 202-year-old classic menswear brand will be owned by a venture formed by the mall developer and the brand conglomerate.
By Daphne Howland • Updated Aug. 17, 2020 -
Stein Mart files for bankruptcy with plans to liquidate its stores
Out of options after COVID-19 dealt it multiple blows, the retailer has laid off half of its corporate staff and begun the store closing process.
By Ben Unglesbee • Aug. 12, 2020 -
Courtesy of Kent Rogowski/Public Goods
CVS to sell DTC brand Public Goods in bid for the healthy shopper
The two started a pilot in January, and have now expanded it to put the brand's sustainable, health-focused products into 2,000 stores nationwide.
By Cara Salpini • Aug. 11, 2020 -
Bankruptcies, abatements cost mall landlords hundreds of millions of dollars in Q2
A quarter defined by temporary store closures took its toll on REITs as major tenants filed for bankruptcy or sought breaks on rent.
By Ben Unglesbee • Aug. 11, 2020 -
Courtesy of PR Newswire
What follows suits in men's apparel?
As people dress down, Tailored Brands and Brooks Brothers are suffering. But neither that, nor the pandemic, means men's fashion is doomed.
By Daphne Howland • Aug. 11, 2020 -
Saks Fifth Avenue lays off store operations employees
The department store confirmed the workforce cuts as part of a shift in strategy, but declined to say how many or which employees will be let go.
By Daphne Howland • Aug. 11, 2020 -
Amazon reportedly in talks with Simon on vacated department store spaces
The e-commerce giant is eyeing mall properties for fulfillment centers, according to a Wall Street Journal report.
By Ben Unglesbee • Aug. 10, 2020 -
Courtesy of Casper
Casper expands physical presence through tie-up with Sam's Club
The addition of four new retail partners comes as the digitally native brand has had to pull back on its own growth plans due to the pandemic.
By Caroline Jansen • Aug. 10, 2020 -
J. Crew nixes store closures after $130M in landlord concessions
The bankrupt apparel retailer may have been running too many stores before the pandemic, but it's reopening almost all of them now.
By Daphne Howland • Aug. 10, 2020 -
Cara Salpini/Retail Dive
Glossier lays off retail employees, closes stores for the rest of 2020
The buzzy DTC beauty brand won't reopen its stores this year, and "possibly for the duration of the pandemic," CEO Emily Weiss said in a blog post.
By Cara Salpini • Aug. 10, 2020 -
Retail suppliers are still under strain — and it could hurt everyone
Stores are open, but vendors face longer payment terms and financial uncertainty, which could hit retail shelves just as the holidays ramp up.
By Ben Unglesbee • Aug. 10, 2020 -
Ascena writes down Ann Taylor again as sales plummet
The bankrupt retailer has chosen to center its premium brands in its turnaround as it shrinks in order to survive.
By Daphne Howland • Aug. 7, 2020 -
Courtesy of Walmart
Unemployment falls to 10.2%, but pandemic foils rapid recovery
The improvement could mean little to retailers if the federal benefits for out-of-work consumers, which ran out last week, aren't renewed soon.
By Daphne Howland • Aug. 7, 2020 -
Retail profits won't rebound until 2022 at the earliest, Moody's says
Analysts with the ratings agency expect operating profit in the industry to take a dip of up to 30% this year, and things are even worse in some sectors.
By Ben Unglesbee • Aug. 7, 2020 -
Courtesy of Etsy
Etsy profits skyrocket in Q2
The marketplace's sellers sold $346 million worth of masks in the quarter, at a time executives say has presented an opportunity to gain new customers.
By Daphne Howland • Aug. 6, 2020 -
J.C. Penney's fate up in the air as acquisition talks drag on
Lenders to the retailer are seeking higher bids as previous offers from Simon Property, Hudson's Bay and Sycamore came up short, according to Bloomberg.
By Ben Unglesbee • Aug. 6, 2020 -
Cara Salpini/Retail Dive
Athleta names interim CMO
Gap Inc. has been shuffling its marketing leadership, with the head of Banana Republic's marketing taking over at its namesake brand in February.
By Cara Salpini • Aug. 5, 2020
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