Financial News: Page 122
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Courtesy of DSW
Designer Brands cuts over 1K positions
The retailer is eliminating some jobs and reassigning others to focus on its warehouse operations.
By Kaarin Moore • July 31, 2020 -
(July 31, 2020). "Coldwater Creek closes" [Screenshot]. Retrieved from Coldwater Creek website.
Coldwater Creek shuts down
The Sycamore Partners-owned apparel retailer said its stores and website are closed after COVID-19 "led us down a path we were not expecting."
By Ben Unglesbee • July 31, 2020 -
Courtesy of Walmart
Walmart cuts corporate jobs as it focuses on omnichannel push
Changes in the retail giant's merchandising and other teams have led to hundreds of layoffs, according to Bloomberg.
By Ben Unglesbee • July 31, 2020 -
Retrieved from Amazon on July 05, 2018
Pandemic fuels demand, Prime membership in Amazon Q2
The surge in demand was largely in low-margin grocery and consumables and strained the e-commerce giant's fulfillment capacity, which it will expand.
By Daphne Howland • July 31, 2020 -
Screenshot of C-Span broadcast of U.S. House Judiciary Committee hearing with tech CEOs
Bezos faces US House Judiciary Committee over marketplace fairness, counterfeits
Amazon's CEO and founder defended its third-party sales and touted advantages for both consumers and sellers, but he didn't have all the answers.
By Daphne Howland • July 30, 2020 -
Overstock's sales get a 109% boost from pandemic shopping
The retailer, after struggling in recent years, was uniquely positioned as an e-commerce player to take advantage of consumers stuck at home.
By Ben Unglesbee • July 30, 2020 -
J.C. Penney looks to sell itself in bankruptcy
Separate bidders are lining up for the department store, which hopes to sell itself quickly and exit Chapter 11 a slimmer, healthier business.
By Ben Unglesbee • July 30, 2020 -
Kendall Davis/Retail Dive
Podcast
The Backroom: When retailers issue mask requirements
Without federal face mask guidelines, retailers like Walmart, Target and Best Buy have had to introduce their own measures.
By Caroline Jansen • July 30, 2020 -
Courtesy of J. Jill Inc.
J. Jill to close stores as Q1 sales, profits plunge
Sales were already suffering before the disease outbreak, and the retailer's future is now in doubt.
By Daphne Howland • July 29, 2020 -
Courtesy of Nike
Nike names new diversity chief
Felicia Mayo will replace Kellie Leonard with a new title that brings talent, diversity and inclusion, and culture under one roof.
By Cara Salpini • July 29, 2020 -
Courtesy of L Brands
L Brands to slash 850 home office jobs
The company said it will beat expectations in the second quarter, and reiterated plans to separate Victoria's Secret and Bath & Body Works.
By Daphne Howland • July 29, 2020 -
Kaarin Vembar/Retail Dive
Under Armour stands by accounting practices despite Wells Notices
The SEC told the retailer it may take action for violations of federal securities laws. Under Armour likely has 30 days to convince the SEC otherwise.
By Cara Salpini • July 28, 2020 -
Tailored Brands says bankruptcy 'likely'
A filing could come as early as the next quarter, which starts Sunday. The retailer warned it could default on its debt and may not be able to pay rent.
By Daphne Howland • July 28, 2020 -
Francesca's sees itself on 'right path forward' after COVID-19 hammered sales
The apparel retailer is a case study in uncertainty as it offers relatively optimistic guidance after being forced to re-close stores in California.
By Ben Unglesbee • July 28, 2020 -
Lands' End issues 'going concern' warning as it looks to refinance debt
The apparel seller is in talks to refinance its debt, which will likely be key to staying out of bankruptcy court as the brand weathers COVID-19 disruptions.
By Ben Unglesbee • July 27, 2020 -
Permission granted by Walgreens
Walgreens CEO to step down
During his five-year tenure after the drugstore's merger with U.K.'s Boots, Stefano Pessina oversaw a failed attempt to take over rival Rite Aid.
By Daphne Howland • July 27, 2020 -
Bankrupt Ascena to close more than 1K stores
The court agreed to the closure of more than 600 of tween brand Justice's stores and all 264 Catherine's plus stores, with yet more possible.
By Daphne Howland • July 27, 2020 -
Target to close for Thanksgiving, double down on same-day services
The retail giant will also start its holiday deals in October to reduce crowds and said the changes were made in anticipation of a "very different" holiday season.
By Ben Unglesbee • July 27, 2020 -
Daphne Howland/Retail Dive
Which retailers have taken the hardest financial hits from COVID-19?
Lost sales, burned cash, new debt — even healthy retailers have become more vulnerable after eating into their financial cushions.
By Ben Unglesbee • July 27, 2020 -
Cara Salpini/Retail Dive
Two longtime Foot Locker execs retire as part of organizational restructuring
Lew Kimble and Jake Jacobs are both retiring at the end of August, but both were on the short-list to replace Richard Johnson as CEO, one analyst said.
By Cara Salpini • July 24, 2020 -
Neiman Marcus gives up on Hudson Yards after just over a year
The department store will also permanently close three other stores, in Florida and Washington state, according to a bankruptcy court filing Thursday.
By Daphne Howland • July 24, 2020 -
Simon Property Group, Authentic Brands bid $305M for Brooks Brothers
The 202-year-old clothier is the latest retail tenant that could be acquired by its landlord in an effort to salvage rent.
By Daphne Howland • July 24, 2020 -
Permission granted by Walmart
Walmart to expand health centers to Florida next year
The retail giant has expanded its healthcare presence during the pandemic and plans to open additional clinics in Georgia this year and possibly Chicago.
By Rebecca Pifer • July 24, 2020 -
Courtesy of Rent the Runway
Rent the Runway hires new chief technology, people officers
The appointments come after the fashion rental company's former CTO and president departed earlier this year.
By Tatiana Walk-Morris • July 23, 2020 -
Retrieved from Ebay on October 20, 2016
Adevinta acquires eBay Classifieds for $9.2B
The companies said they expect to complete the deal by next year.
By Tatiana Walk-Morris • July 23, 2020
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