Financial News: Page 126
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Gap inks global licensing deal
The apparel retailer is also laying off some 10% of its corporate workforce, including design teams, according to a report from The Business of Fashion.
By Daphne Howland • May 4, 2020 -
Yujin Kim/Retail Dive
Deep DiveThese 27 retailers could file for bankruptcy as pandemic roils the industry
An unprecedented crisis has created a whole new set of challenges for struggling retailers, likely setting the stage for a large wave of consolidation.
By Ben Unglesbee • May 4, 2020 -
Courtesy of https://corporate.walmart.com/photos/walmart-store-exterior-at-night
Walmart adds 2-hour delivery service
The retailer will lean on its vast store network and existing delivery partners to execute speedy last-mile deliveries.
By Shefali Kapadia • May 1, 2020 -
Amazon Q1 sales soar but profits tumble
The company's e-commerce prowess was undermined in the first quarter, with low margins and high costs rendering a sales surge almost moot.
By Daphne Howland • May 1, 2020 -
J. Crew reportedly preps for bankruptcy
The apparel retailer, long under financial strain, could file as early as this weekend, according to reports in CNBC and The Wall Street Journal.
By Ben Unglesbee • Updated May 8, 2020 -
Daphne Howland/Retail Dive
Macy's to reopen 68 stores on Monday
Most locations may open within six to eight weeks, but expectations for traffic and sales are low, CEO Jeff Gennette said Thursday.
By Daphne Howland • May 1, 2020 -
Bed Bath & Beyond replaces CFO as it fills out C-suite
Finance chief Robyn D'Elia is exiting the company as CEO Mark Tritton charges forward with the struggling home good retailer's turnaround.
By Caroline Jansen • May 1, 2020 -
Chico's names new CEO and slashes costs
In June, Molly Langenstein, who has led the Chico's and White House Black Market brands, will replace Bonnie Brooks as president and chief executive.
By Daphne Howland • April 30, 2020 -
Workers at Amazon, Target plan strike
The walkout was organized in protest of what some major retailer employees say is inadequate protection and compensation amid a deadly pandemic.
By Ben Unglesbee • Updated May 1, 2020 -
Daphne Howland/Retail Dive
More than half of mall-based department stores could close in two years
Losing their anchors will have a cascading effect that will hasten the permanent closure of many malls, according to real estate firm Green Street Advisors.
By Daphne Howland • April 30, 2020 -
Kendall Davis/Retail Dive
Podcast
The Backroom: Retail responds to the coronavirus
On this episode, the team spoke with guest Jeff Wells of Grocery Dive, to discuss how the pandemic is changing all sectors of the industry.
By Caroline Jansen • April 30, 2020 -
Yujin Kim/Retail Dive
Apparel retailers are in trouble
The outbreak is making a bad situation worse when it comes to selling clothes. Some companies are better off than others, but all are challenged.
By Daphne Howland • April 30, 2020 -
Courtesy of Allbirds
Allbirds steps into performance footwear market
On Tuesday, the DTC brand launched its first ever running shoe, propelling it into the athletics space.
By Cara Salpini • April 29, 2020 -
Best Buy resumes 'Geek Squad' and delivery services
Next month the electronics retailer will also open about 200 stores for appointments. Demand has ebbed after a busy March, research shows.
By Daphne Howland • April 29, 2020 -
Guitar Center makes debt payment, dodges default
The musical instrument retailer said it addressed its interest payments for April through a deal that gave it extra liquidity to handle the pandemic.
By Ben Unglesbee • Updated May 18, 2020 -
Pandemic could cost Tractor Supply an extra $50M in operations spend
About 80% of the expected expenses are related to labor or benefits, while the remaining 20% is for supplies, safety and cleaning, executives said.
By Matt Leonard • April 29, 2020 -
Suppliers are feeling retail's pain, too
As retailers cancel orders and hold payments, their vendors are stretched for cash, making hard decisions and worried about what comes next.
By Ben Unglesbee • April 29, 2020 -
Column
SKU'd: The day 300K retail workers were furloughed
The pandemic has pushed retail employees to the limit, threatening both their economic futures and the very nature of their jobs.
By Kaarin Moore • April 29, 2020 -
With nearly 60 malls reopened, Simon plots more
The mall operator reported better-than-expected foot traffic and sales at the newly reopened malls.
By Ben Unglesbee • Updated May 7, 2020 -
Chico's plans to reopen stores starting May 4
The apparel retailer will use store inventory to fulfill online orders, offer in-store pickup, including curbside, and begin selling by appointment.
By Daphne Howland • April 28, 2020 -
Daphne Howland/Retail Dive
How COVID-19 could change the retail landscape
As stores are forced shut, landlords and tenants are feuding. If they don't work it out, the streets might be altered forever.
By Daphne Howland • April 28, 2020 -
Adidas warns worse to come as Q1 profits plunge 97%
Strength in e-commerce wasn't enough to offset sales lost to store closures, as the athletic retailer also took a nearly 20% hit to revenue in the quarter.
By Daphne Howland • April 27, 2020 -
Daphne Howland/Retail Dive
S&P downgrades Macy's on worsening economic outlook
The agency's economists now predict a 5.2% contraction of real GDP this year, so the department store faces steep declines in discretionary spending.
By Daphne Howland • April 27, 2020 -
Daphne Howland/Retail Dive
S&P: Pandemic 'catastrophic' for retail
Analysts write that the industry is "squarely in the crosshairs" of the current crisis, with even strong players like TJX and Ross under financial pressure.
By Ben Unglesbee • April 27, 2020 -
Daphne Howland/Retail Dive
Gap downgraded as it raises new debt to stay afloat
The retailer's brand, flexible leases and well-developed e-commerce help, but the pandemic will continue to pressure sales and margins, analysts said.
By Daphne Howland • April 27, 2020
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