Financial News: Page 126
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Daphne Howland/Retail Dive
Macy's Q1 loss could top $1B
The department store badly needs to reopen, and that has begun. But with so many mall locations and wary consumers, results could remain weak.
By Daphne Howland • May 21, 2020 -
Whole Foods continues to open online-only 'dark' stores
The retailer has dedicated six locations to filling e-commerce orders amid record demand.
By Jeff Wells • May 21, 2020 -
Cara Salpini/Retail Dive
L Brands to close 250 Victoria's Secret stores
The company reiterated its commitment to separating its lingerie and personal care brands, which presented distinctly different results in the first quarter.
By Daphne Howland • May 21, 2020 -
Best Buy poised to emerge a 'winner' as it leans on curbside, digital
The retailer's online sales rose more than 155%, allowing it to hold on to most of its revenue even as stores closed during the COVID-19 crisis.
By Ben Unglesbee • May 21, 2020 -
Lime Crime hires Body Shop alum as CEO
Andrea Blieden joins the beauty brand as it focuses on innovation and tech to fuel growth.
By Tatiana Walk-Morris • May 21, 2020 -
5 retail deals that have collapsed in 2020 (so far)
Some retailers' problems can be traced back to last year. A global health crisis was just the accelerator to things falling apart.
By Kaarin Moore • May 21, 2020 -
Courtesy of Lowe's
Sales soar at Home Depot, Lowe's in Q1
The home improvement sector was a bright spot in an industry that has been hard hit by the COVID-19 pandemic.
By Caroline Jansen • May 20, 2020 -
Target's 141% digital growth during pandemic pushes sales and costs up
A booming top line masks the volatility in the retailer's business as the pandemic has forced extreme changes on an incredibly short timeline.
By Ben Unglesbee • May 20, 2020 -
Brand licensing company Centric files for bankruptcy
The company has deals with Nautica, Kate Spade, Michael Kors and others, and blames the pandemic for disrupting its wholesale business and cash flow.
By Daphne Howland • May 20, 2020 -
Ch. 11 is J.C. Penney's best shot at a turnaround, but it's not a sure one
Bankruptcy will give the retailer a chance to shed debt and close stores. But when — and if — Penney makes it out, it still faces an ailing sector.
By Ben Unglesbee • May 19, 2020 -
Courtesy of Kohl's
Kohl's swings to $541M loss as closures decimate sales
The largely off-mall retailer has some distinct advantages over its peers, but new debt and a slow return to normal will likely hamper its progress.
By Daphne Howland • May 19, 2020 -
Daphne Howland/Retail Dive
Pier 1 gets approval to liquidate stores, wind down operations
Liquidation sales will begin as soon as stores are able to reopen, and the company expects the process to wrap up by the end of October.
By Caroline Jansen • Updated June 1, 2020 -
Courtesy of https://corporate.walmart.com/photos/walmart-store-exterior-at-night
Walmart nixes Jet as pandemic shopping pushes digital sales up 74%
Costs and sales surged as the COVID-19 crisis brought "the broadest set of challenges we've ever seen globally" to the retail giant during Q1.
By Ben Unglesbee • May 19, 2020 -
Rent the Runway CTO, president exit the company
The company, which specializes in the rental of designer clothing, has faced criticism for continuing to operate during the pandemic.
By Kaarin Moore • May 19, 2020 -
Daphne Howland/Retail Dive
Nordstrom closing its three Jeffrey specialty apparel stores
With the 16 full-line stores slotted for closure, the move further undermines the retailer's luxury play, as off-price Rack stores remain untouched.
By Daphne Howland • May 19, 2020 -
Courtesy of Office Dept
Office Depot to cut more than 13K jobs, close some stores
The office supplies retailer said it expects to save about $860 million by the end of 2023, according to a Securities and Exchange Commission filing.
By Daphne Howland • May 18, 2020 -
Kaarin Vembar/Retail Dive
What Under Armour's resolute focus on performance wear says about its pandemic prospects
The athletics retailer already needed a win, and instead it's been met with a more challenging landscape and another surge in athleisure.
By Cara Salpini • May 18, 2020 -
J.C. Penney files for bankruptcy
The company plans to close about 242 stores and has new access to cash as it looks to shed debt and sell assets in Chapter 11.
By Ben Unglesbee • Updated May 18, 2020 -
J. Crew wins court approval for rent relief
The order allows the retailer to avoid $23 million in rent payments, a move landlords objected to.
By Ben Unglesbee • Updated May 27, 2020 -
Apparel collapse drags down retail in April
A significant e-commerce boost and a rise in grocery were unable to make up for record declines in clothing, furniture and electronics sales.
By Daphne Howland • May 15, 2020 -
Rite Aid partners with Instacart to deliver healthcare, grocery essentials
The drug store retailer is following a larger trend of companies strengthening their delivery options during the pandemic.
By Tatiana Walk-Morris • May 15, 2020 -
Dillard's swings to $162M loss as Q1 sales plummet 47%
The Southern department store was slow to close some stores as the pandemic spread, and will have reopened a majority of its fleet by next week.
By Daphne Howland • May 15, 2020 -
"BLACKMARKET." by Allen Lee is licensed under CC BY 2.0 / Edited by Brian Tucker/Retail Dive
Apparel faces post-pandemic decline even as stores reopen
While there's evidence of pent-up demand, a shift to e-commerce and wary consumers will hurt revenue and margins, analysts say.
By Daphne Howland • May 14, 2020 -
Bed Bath & Beyond taps L Brands exec as brand chief
Cindy Davis is CEO Mark Tritton's latest executive hire as he works to build out his team and turn around the struggling home retailer.
By Caroline Jansen • May 14, 2020 -
J.C. Penney pays out nearly $10M to execs as finances falter
The retailer, reported to be near bankruptcy, said it made compensation changes "to retain and continue to motivate" its top management team.
By Ben Unglesbee • May 14, 2020
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