Financial News: Page 12
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Kena Betancur via Getty Images
Winners and losers of Black Friday 2024
With deals all spread out and e-commerce surging even on Thanksgiving Day, the red-letter event seems to be losing its punch.
By Daphne Howland • Nov. 30, 2024 -
Courtesy of Nordstrom
Nordstrom nervous about the holidays despite healthy Q3
A slowdown early in Q4 led to a very conservative upgrade in the retailer’s expectations. Meanwhile, there is still no update on the Nordstrom family’s take-private offer.
By Daphne Howland • Nov. 27, 2024 -
Courtesy of Abercrombie & Fitch
Abercrombie & Fitch Co. taps new CFO as sales surge 14%
The Abercrombie and Hollister brands both saw strong double-digit growth in the third quarter, despite weather disruptions.
By Nate Delesline III • Nov. 27, 2024 -
Amid setbacks in its turnaround, Kohl’s lowers guidance again
Traffic, sales and profits declined in Q3, and the department store is reversing course in some areas after its tactics backfired.
By Daphne Howland • Nov. 26, 2024 -
Daphne Howland/Retail Dive
Best Buy says election, economy dampened customer demand in Q3
Revenue fell 3.2% as shoppers avoided big-ticket purchases, but with the election over and the heart of the holiday sales season ahead, the retailer is optimistic about Q4.
By Nate Delesline III • Nov. 26, 2024 -
Daphne Howland/Retail Dive
Dick’s continues to dodge the rest of retail’s problems as comps jump 4%
Warm weather and price-conscious shoppers didn’t meaningfully dent the retailer’s performance — and tariffs won’t either, executives said.
By Cara Salpini • Nov. 26, 2024 -
Daphne Howland/Retail Dive
Macy’s delays full Q3 report over millions in fraudulent expense accounting
Starting in 2021 an employee hid $132 million to $154 million in delivery expenses, a disclosure overshadowing an otherwise decent quarter.
By Daphne Howland • Nov. 25, 2024 -
Daphne Howland/Retail Dive
Vuori doesn’t need money. Investors keep knocking anyway.
A recent $825 million fundraise from General Atlantic and Stripes tipped the brand into the $5 billion valuation range. Investor Jon Kossow says the company still doesn’t need the cash to fund its own operations.
By Cara Salpini • Nov. 25, 2024 -
Courtesy of Big Lots
Big Lots sold to private equity
An affiliate of Nexus Capital Management plans to acquire the retailer for $2.5 million in cash, debt payoff and some assumed liabilities.
By Nate Delesline III • Nov. 25, 2024 -
Courtesy of Olive & June
Olive & June to be acquired by Hydro Flask owner for $240M
Olive & June’s founder and CEO Sarah Gibson Tuttle will remain on the team as the nail care company joins Helen of Troy’s portfolio of brands.
By Caroline Jansen • Nov. 22, 2024 -
Courtesy of Gap Inc.
As Gap Inc. makes progress in Q3, all eyes are on the CEO
Richard Dickson has caught investors’ attention with a string of improvements across the portfolio since his arrival last year from Mattel.
By Daphne Howland • Nov. 22, 2024 -
Courtesy of Stitch Fix
ColumnThe Weekly Closeout: Stitch Fix adds stylist profiles, NRF and RILA respond to overtime rule block
The apparel box retailer is introducing customers to the brains behind its boxes while retail organizations express relief to a ruling on overtime pay.
By Retail Dive Staff • Nov. 22, 2024 -
Courtesy of The Container Store
Beyond’s $40M investment in The Container Store may be off
The Container Store’s failure to reach a satisfactory agreement with lenders puts their deal at risk, both retailers warned this week.
By Daphne Howland • Nov. 21, 2024 -
Courtesy of Amer Sports
Amer Sports revenue jumps 17% as it names new Salomon CEO
Salomon Chief Product Officer Guillaume Meyzenq will take on the position in January, as the company continues to benefit from Arc’teryx’s runaway growth.
By Nate Delesline III • Nov. 21, 2024 -
Nate Delesline III/Retail Dive
Target misses Q3 earnings expectations, lowers guidance
The retailer will focus on deals and value as consumers become pickier with discretionary purchases.
By Nate Delesline III • Nov. 20, 2024 -
Courtesy of Lowe's
Lowe’s prepping for ‘what may be coming from the administration’ on tariffs
The retailer said it diversified its supply chain after Trump’s first tariffs, but that 40% of its assortment is sourced abroad and more levies would add costs.
By Daphne Howland • Nov. 19, 2024 -
Kaarin Vembar/Retail Dive
Walmart raises guidance boosted by strong revenue, e-commerce growth
Store improvements, an accelerated digital presence and a growing advertising business is separating the retailer from its competitors, according to analysts.
By Nate Delesline III • Nov. 19, 2024 -
Ace Hardware revenue grows to record $2.3B in Q3
Operating expenses also rose nearly 13% in the quarter as the company invests in store openings, marketing and more ad spending.
By Nate Delesline III • Nov. 18, 2024 -
Daphne Howland/Retail Dive
Auction of struggling San Francisco Centre mall postponed
The property, previously anchored by a Nordstrom flagship that left last year and now more than $625 million in default, was set to be sold Thursday.
By Daphne Howland • Nov. 18, 2024 -
Daphne Howland/Retail Dive
ColumnThe Weekly Closeout: Target extends store hours for the holidays, Nuuly launches ‘The Thrift Shop’
The mass merchant will be open from 7 a.m. to midnight from Nov. 30 to Dec. 23, while the subscription company debuted a perk for discounted styles.
By Retail Dive Staff • Nov. 15, 2024 -
Drew Angerer/Getty Images via Getty Images
Tapestry and Capri terminate merger agreement
After losing a lawsuit against the FTC, both companies agreed to cancel the deal, calling the legal process “uncertain and unlikely to be resolved.”
By Laurel Deppen • Nov. 14, 2024 -
Courtesy of Dillard's
Dillard’s keeps the focus on expenses in Q3 as sales edge down
Compared to some rivals, the department store is less dependent on the holiday quarter when it comes to the year’s operating profits.
By Daphne Howland • Nov. 14, 2024 -
Ivan Pantic via Getty Images
US holiday retail sales to reach $1 trillion
About a quarter of those sales will occur online this year, a Forrester report predicts.
By Tatiana Walk-Morris • Nov. 14, 2024 -
Courtesy of Grove Collaborative
Grove doubles down on DTC, will ditch brick-and-mortar partnerships
The sustainability-focused consumer products brand said that selling through retail stores generated few sales and has been “consistently unprofitable.”
By Daphne Howland • Nov. 13, 2024 -
Nate Delesline III/Retail Dive
Hurricane prep, recovery help drive Q3 growth at Home Depot
The company is also benefiting from its acquisition earlier this year of SRS Distribution, which is on track to contribute $6.4 billion in sales for the fiscal year.
By Nate Delesline III • Nov. 12, 2024
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