Financial News: Page 124
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Cara Salpini/Retail Dive
Lululemon eyes Q4 for a return to revenue growth
Digital comps in Q1 grew 70%, and e-commerce accounted for 54% of total revenue in the quarter, buoying the retailer through the pandemic.
By Cara Salpini • June 12, 2020 -
Daphne Howland/Retail Dive
Party City tries to pivot as Q1 loss tops half a billion dollars
The retailer expanded its curbside services and added drive-by party products to its offering as it navigates a market defined by a pandemic.
By Ben Unglesbee • June 12, 2020 -
The Children's Place to close 300 stores
The retailer saw e-commerce soar 300% while stores were closed due to the pandemic, but losses were exacerbated by higher online fulfillment costs.
By Daphne Howland • June 12, 2020 -
Sam's Club rolls out curbside pickup across the US
The service will be free for Plus-level members of the Walmart-owned warehouse chain.
By Sam Silverstein • June 12, 2020 -
Zara owner Inditex to close as many as 1,200 stores
The fast-fashion giant's plan to integrate stores with e-commerce paid off in a quarter when 88% of stores were shut at some point due to the pandemic.
By Daphne Howland • June 11, 2020 -
Patagonia CEO Rose Marcario steps down
In her tenure, Marcario was "instrumental in leading the company through the most prosperous time in its 47-year history," the retailer said.
By Cara Salpini • June 11, 2020 -
Tailored Brands says it may have to file bankruptcy if COVID-19 crisis wears on
The Men's Wearhouse and Jos. A. Banks owner had started to make progress on its turnaround when COVID-19 threw it into crisis.
By Ben Unglesbee • June 11, 2020 -
Simon pulls out of $3.6B Taubman deal
In response, Taubman called the termination notice "invalid and without merit," saying Simon remains "bound to the transaction in all respects."
By Daphne Howland • Updated June 10, 2020 -
Daphne Howland/Retail Dive
Apparel margins take a hit as retailers face a new future
Reopenings are boosting clothing sales due to pent-up demand, but specialty and department stores will keep some doors shut for good.
By Daphne Howland • June 10, 2020 -
Bloomberg: RTW Retailwinds preparing to close all stores in bankruptcy filing
The company, owner of New York & Co., indicated previously it had defaulted on multiple financial obligations after COVID-19 hit.
By Ben Unglesbee • Updated June 22, 2020 -
Signet to close nearly 400 stores
The jewelry retailer said it's accelerating a planned shift to emphasize e-commerce, but digital sales didn't do much to stem declines in the first quarter.
By Daphne Howland • June 9, 2020 -
Bloomberg: Tailored Brands mulls bankruptcy
The retailer has brought on advisers including the law firm Kirkland & Ellis following the temporary closure of its store base.
By Ben Unglesbee • June 9, 2020 -
Daphne Howland/Retail Dive
Macy's store reopenings 'better than anticipated'
The retailer, with about 450 stores running again, also closed on new financing that gives it "sufficient liquidity" for the needs of the business.
By Daphne Howland • June 9, 2020 -
Permanent store closures could hit 25K in 2020, Coresight says
That number would shatter 2019's record as the retail industry navigates trends accelerated by the COVID-19 crisis.
By Ben Unglesbee • June 9, 2020 -
What's Victoria's Secret's next move?
The lingerie brand faces a new set of obstacles, including a lawsuit and a flailing U.K. operation. And it may have to get a lot smaller.
By Daphne Howland • June 8, 2020 -
Gap to shutter Hill City brand
The men's athletics brand was built in the image of Athleta, but COVID-19 forced the company "to ruthlessly prioritize and reduce operating expenses."
By Cara Salpini • June 8, 2020 -
Reuters: Sycamore Partners in early acquisition talks with J.C. Penney
With the bankrupt department store chain's fate in the air, a private equity deal could save it from liquidation if Penney can't forge a plan with lenders.
By Ben Unglesbee • June 8, 2020 -
Daphne Howland/Retail Dive
Gap Inc. Q1 loss nears $1B
The retailer's namesake was hit especially hard, but each brand's unique woes helped drag it behind peers in a difficult period for apparel.
By Daphne Howland • June 5, 2020 -
G-III edges away from retail with plans to liquidate all Wilsons Leather and G.H. Bass stores
The company will shift its focus to its wholesale business as weak apparel growth is further eroded by temporary store closures during the pandemic.
By Daphne Howland • June 5, 2020 -
GameStop's e-commerce sales rose 519% amid closures
The digital gains weren't enough to offset a 30% drop in comparable sales.
By Ben Unglesbee • Updated June 10, 2020 -
J.C. Penney begins liquidation sales at 136 stores in 37 states
The department store previously announced the permanent closure of 154 stores as it works its way through Chapter 11.
By Ben Unglesbee , Daphne Howland • Updated June 18, 2020 -
Cara Salpini/Retail Dive
Simon Property Group reportedly takes Gap to court over unpaid rent
Gap Inc. didn't remark on any lawsuit, but confirmed that it's working toward rent concessions that are make-or-break for some stores.
By Daphne Howland • Updated June 5, 2020 -
LVMH takes a new look at proposed $16.2B Tiffany merger
The luxury house may try to cut its purchase price in light of the pandemic and now civil unrest in the U.S., but analysts doubt the deal will collapse.
By Daphne Howland • June 4, 2020 -
Bloomberg: Ascena mulling a potential bankruptcy
The retailer is considering selling some of its banners, including Catherines.
By Ben Unglesbee • Updated June 8, 2020 -
Former Tommy Hilfiger CEO to lead Hugo Boss
Daniel Grieder left Tommy Hilfiger and PVH Europe earlier this month, and begins a five-year stint as CEO of the German luxury brand next year.
By Daphne Howland • Updated June 17, 2020
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