Financial News: Page 117
-
A long-awaited moment of truth for GameStop
As the next generation of consoles finally nears release, analysts are signaling more confidence in the struggling gaming retailer.
By Ben Unglesbee • Sept. 17, 2020 -
Rent the Runway drops unlimited rental
The company's tweaks to its membership structure include three subscription options where consumers can receive up to four, eight or 16 items a month.
By Kaarin Moore • Sept. 17, 2020 -
A 'rocky' fall season lies ahead for retailers, Cowen says
Trip consolidation, spending changes, government action (or lack of) on the economy and the continued spread of COVID-19 make for many possibilities.
By Ben Unglesbee • Sept. 17, 2020 -
Courtesy of Walmart corporate blog
Is the world's largest retailer letting Amazon set the rules?
Walmart+ trades the retail giant's "always low prices" promise for an exclusive convenience play that, so far, its online rival is winning.
By Daphne Howland • Sept. 17, 2020 -
August retail rebound hampered by uncertainty
A faltering economy and persistent pandemic are polarizing consumers, hindering spending and jeopardizing the holidays.
By Daphne Howland • Sept. 16, 2020 -
Courtesy of Kohl's
Kohl's cuts 15% of corporate staff
The layoffs are part of an effort to "further align its cost base in response to the business impact resulting from the COVID-19 pandemic," the retailer said.
By Ben Unglesbee • Sept. 16, 2020 -
Cara Salpini/Retail Dive
GNC nixes auction, plans to sell itself to investor
With no other bids, the retailer is moving forward with a sale to China-based Harbin Pharmaceutical Group. The deal could be subject to regulatory scrutiny.
By Ben Unglesbee • Sept. 15, 2020 -
Emma Cosgrove/Retail Dive
Amazon to hire 100K after 6 months of capacity building
The company is opening 100 new operations buildings in September as it preps for peak season during a pandemic.
By Emma Cosgrove • Sept. 14, 2020 -
Courtesy of J. Jill Inc.
J. Jill dodges bankruptcy
After multiple forbearance extensions, the apparel seller cut an out-of-court deal with key lenders that will extend maturities and add liquidity.
By Ben Unglesbee • Sept. 14, 2020 -
Wayfair hires Walmart alum to run supplier tech
The e-tailer sees expansive product choice as a differentiator, which makes attracting vendors a key element of its success. Technology is one inducement.
By Emma Cosgrove • Sept. 14, 2020 -
Chewy has already added more customers this year than in all of 2019
The pet e-retailer's sales and margins grew in the second quarter, and analysts see it well positioned to take advantage of an expanding opportunity.
By Daphne Howland • Sept. 11, 2020 -
Target plans to expand Black employee representation by 20%
The retailer has announced multiple equity and diversity initiatives in a year when conversations and protests over racial injustice have moved to the fore.
By Ben Unglesbee • Sept. 11, 2020 -
GameStop to close up to 450 stores this year
Executives with the gaming retailer accelerated plans to lower their footprint density after seeing strong results from earlier closures.
By Ben Unglesbee • Sept. 10, 2020 -
Century 21, in Chapter 11, to wind down after 60 years
The Manhattan-based off-pricer, which famously rebuilt after 9/11, blames unpaid insurance claims as all 13 stores liquidate.
By Daphne Howland • Sept. 10, 2020 -
Daphne Howland/Retail Dive
American Eagle to close up to 50 stores this year, eyes hundreds more
The closures will hit the retailer's namesake brand, while the Aerie lingerie business and new activewear brand "Offline" are poised for growth.
By Daphne Howland • Sept. 10, 2020 -
Bankrupt J.C. Penney plans to sell itself to Simon and Brookfield
After weeks of talks, including "a few screaming matches" among stakeholders, the retailer unveiled a deal in principle with its landlords.
By Ben Unglesbee • Sept. 10, 2020 -
One Kings Lane workers allege furloughs were based on pregnancy
Among other things, the plaintiffs pointed to comments about "work-life balance" as evidence of the alleged discrimination.
By Lisa Burden • Sept. 10, 2020 -
Cara Salpini/Retail Dive
Lululemon to expand holiday pop-ups to 70 to ease pandemic pressure
Profits and margins shrank in Q2, but the retailer is among the few in the black, and CEO Calvin McDonald said he remains "cautiously optimistic."
By Daphne Howland • Sept. 9, 2020 -
Kaarin Vembar/Retail Dive
Under Armour cuts 600 corporate jobs in latest restructuring move
The layoffs are an extension of a cost-reduction push that started this spring and was recently extended by the sports apparel brand's board.
By Ben Unglesbee • Sept. 9, 2020 -
Permission granted by At Home Group
Retail's unlikely pandemic winners
Wayfair, Overstock and At Home have made gains while much of the industry faces sales declines, layoffs and, in some cases, bankruptcy.
By Caroline Jansen • Sept. 9, 2020 -
The image by publichall is licensed under CC BY-SA 3.0
Coldwater Creek assets reportedly acquired by Hong Kong sourcing firm
The retailer's sales were on the rise going into 2020, but COVID-19 disruption led to major losses. Now it has another chance for a comeback.
By Ben Unglesbee • Sept. 9, 2020 -
In scathing rebuttal, LVMH vows countersuit against Tiffany over merger breakdown
The Parisian luxury house called the jeweler’s legal action unfounded and defamatory, and added to its rationale for ditching their $16.2 billion deal.
By Daphne Howland • Updated Sept. 10, 2020 -
Courtesy of Whole Foods Market
Whole Foods to offer pickup from nearly all of its stores by end of month
The retailer has tripled click-and-collect availability since March and intends to have the service at 480 stores within a few weeks.
By Jeff Wells • Sept. 8, 2020 -
Mall of America reportedly preps more than 200 layoffs
Owner Triple Five Group leveraged the experience-rich center to prop up its newer American Dream project, and both are stymied by the pandemic.
By Daphne Howland • Sept. 8, 2020 -
Neiman Marcus exits bankruptcy
The retailer said that its new owners understand the value of its brands and are committed to sustainability issues.
By Ben Unglesbee • Updated Sept. 28, 2020
Previous
