Financial News: Page 117
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Courtesy of Dropbox
Payless relaunches online, with plans for hundreds of stores
The company's value proposition is in keeping with the priorities of today's apparel consumer, but its brick-and-mortar plans may be a stretch.
By Daphne Howland • Aug. 18, 2020 -
Courtesy of Kohl's media gallery
Kohl's Q2 digital sales spike nearly 60% amid omnichannel push
CEO Michelle Gass went so far as to say that the department store is poised to take market share in the COVID-19 era, despite its difficulties.
By Daphne Howland • Aug. 18, 2020 -
Courtesy of Walmart
Walmart's online sales double as pandemic shapes Q2
The retailer's efforts to refocus around omnichannel have been paying off as COVID-19 drives shopping habits.
By Ben Unglesbee • Aug. 18, 2020 -
Courtesy of J. Jill Inc.
J. Jill, Destination XL added to S&P's most vulnerable retailers list
As companies become vulnerable, the number of retail bankruptcies surges to its highest point in nearly a decade, with no end in sight.
By Ben Unglesbee • Aug. 18, 2020 -
Without a deal, Stage Stores heads for liquidation
The owner of Gordmans received court approval to carry out the wind down of the business and its stores.
By Ben Unglesbee • Aug. 17, 2020 -
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 -
Retrieved from Amazon on July 12, 2017
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
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