Financial News: Page 115
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REI lays off 5% of retail staff
The 400 store workers let go come on top of 300 corporate employees laid off in April "as a result of COVID-19 revenue impacts."
By Cara Salpini • Updated July 15, 2020 -
Courtesy of Office Dept
Office Depot parent names former Amazon exec CTO
Terry Leeper, who also held executive positions at Microsoft, will set the company's technical vision for the future.
By Tatiana Walk-Morris • July 14, 2020 -
Daphne Howland/Retail Dive
In pandemic era, private equity-owned retail is as vulnerable as ever
Takeovers by financial firms have dropped off, but there are many companies from past buyouts in distress now, as debt and the pandemic take their toll.
By Ben Unglesbee • July 14, 2020 -
Daphne Howland/Retail Dive
AAFA calls on White House to issue guidance on masks
The American Apparel & Footwear Association has also asked state and local officials to clear up messaging around the COVID-19 prevention measure.
By Daphne Howland • July 13, 2020 -
RTW Retailwinds files for bankruptcy
After months of financial turmoil amid the COVID-19 pandemic, the owner of New York & Co. filed for Chapter 11 with plans to close many if not all stores.
By Ben Unglesbee • July 13, 2020 -
Column
SKU'd: Does Gap have a Kanye West problem?
From "College Dropout" to presidential hopeful. If you hitch your brand to a mercurial superstar you better be ready for the ride.
By Kaarin Moore • July 10, 2020 -
Muji USA files for bankruptcy
The domestic arm of the global retailer has drawn lines to store openings. Now it's in Chapter 11 and reportedly looking to close unprofitable locations.
By Ben Unglesbee • July 10, 2020 -
Courtesy of Nike
Nike opens latest store concept: Nike Rise
The first of its kind opened in Guangzhou, China, on Thursday, and the retailer plans to expand it in 2021.
By Cara Salpini • July 10, 2020 -
Need Supply and Totokaelo to shut down for good
The two privately held retailers focused on millennial luxury customers and reported expansive growth in recent years, before the pandemic hit.
By Daphne Howland • Updated July 13, 2020 -
Bed Bath & Beyond to shutter 200 stores over the next 2 years
The permanent closures come as the home retailer reported first quarter net sales fell nearly 50% year over year to $1.3 billion.
By Caroline Jansen • July 9, 2020 -
Sur La Table files for bankruptcy with plan to sell itself
The kitchen specialist could close more than 40% of its stores in Chapter 11 as it looks to sell itself to another private equity company.
By Ben Unglesbee • July 9, 2020 -
Cara Salpini/Retail Dive
How COVID-19 boosted QVC, HSN and livestreaming
As the veteran telecommerce networks adapt to the challenges of the pandemic, other brands are catching up to the future of livestreaming.
By Tatiana Walk-Morris • July 9, 2020 -
Permission granted by Walgreens
Walgreens invests $1B to open hundreds of primary care clinics
The retail basic care market is still in its formative stages, but competition to quickly build market presence is stiff.
By Rebecca Pifer • July 9, 2020 -
Daphne Howland/Retail Dive
Levi's to cut 700 non-retail jobs as Q2 revenues plummet
The company says it's ready for changes brought on by the pandemic, including the casualization of fashion and new consumer behaviors.
By Daphne Howland • July 8, 2020 -
Courtesy of PR Newswire
Brooks Brothers files for bankruptcy, will close 51 stores
The 202-year-old retailer, once a destination for white-collar professionals, has suffered as office garb has become more casual.
By Daphne Howland • July 8, 2020 -
RTW Retailwinds leaves NYSE
Earlier this week, the retailer, which is likely bound for bankruptcy, went into forbearance on its main credit line, sharpening its financial challenges.
By Ben Unglesbee • July 8, 2020 -
Daphne Howland/Retail Dive
Bloomberg: Ascena preps bankruptcy plan that would close 1,200 stores
The apparel retail conglomerate repeatedly said it had no plans to seek creditor protection, but the challenges of the COVID-19 era are steep.
By Ben Unglesbee • July 8, 2020 -
Daphne Howland/Retail Dive
How to run a store in a pandemic
It's possible to safely operate brick-and-mortar retail, experts say. But with that comes great responsibility, and some consumers aren't making it easy.
By Daphne Howland • July 8, 2020 -
Cara Salpini/Retail Dive
Department stores miss out on Fourth of July consumer attention
Specialty retailers, while giving off-price retailers a run for their money, leaned on promotions to sway shoppers, according to Wedbush analysts.
By Daphne Howland • July 7, 2020 -
Courtesy of Away
Away co-founder Steph Korey will step down as co-CEO in 2020
A company spokesperson said this "was always the succession plan" and is not related to recent social media posts from the co-founder.
By Cara Salpini • July 7, 2020 -
"Arsenal Mall, Watertown MA" by John Phelan is licensed under CC BY 3.0 / Edited by Brian Tucker/Retail Dive
Retail's reopening
From supply issues to category-specific challenges, Retail Dive explores what it means to be operating in a new, and evolving, environment.
By Retail Dive Staff • July 7, 2020 -
RTW Retailwinds gets forbearance after loan default
The retailer, which owns New York & Co., has until the end of August to pay down its entire revolving loan balance.
By Ben Unglesbee • July 7, 2020 -
Pier 1 receives $31M bid for IP, e-commerce business
Retail Ecommerce Ventures LLC beat out private equity firm Sycamore after upping its initial offer of $20 million.
By Caroline Jansen • Updated July 13, 2020 -
Apparel sellers Lucky Brand and G-Star Raw file for bankruptcy
Both brands cited the COVID-19 crisis in exacerbating their financial struggles.
By Ben Unglesbee • July 6, 2020 -
Courtesy of Belk
Belk furloughs end in unspecified number of layoffs, mostly at HQ
A spokesperson said the company's moves to cope with the pandemic have been "some of the most difficult decisions of its 130-year history."
By Daphne Howland • July 6, 2020
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