Financial News: Page 132
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Lululemon pushes ahead with growth plans despite coronavirus
As a strong player in a strong sector of retail, the athletics brand isn't pulling back on its goals of doubling digital and men's by 2023.
By Cara Salpini • March 27, 2020 -
Why isn't this store closed?
Some retailers deeming themselves "essential" might think it's profitable to stay open during a pandemic. But they may be wrecking their reputations.
By Daphne Howland • March 27, 2020 -
Michaels, Gap, At Home, Container Store among latest downgrades on pandemic disruption
The underlying financial position of retailers across the spectrum is at risk as retailers shutter stores en masse and face shrinking demand.
By Ben Unglesbee • March 27, 2020 -
The image by Aolden23 is licensed under CC BY-SA 3.0
Build-A-Bear furloughs over 90% of employees
The retailer, with a brand based on in-store experiences for children, is unsure how many stores will reopen.
By Daphne Howland • March 27, 2020 -
GNC has stayed open amid confusion around 'essential' retail. Some employees feel unsafe.
At least one state disagrees that the retailer is essential, while employees worry about the lack of sanitation supplies and social distancing at stores.
By Ben Unglesbee • Updated March 27, 2020 -
B8ta announces corporate layoffs and store associate furloughs
The company is the latest to feel workforce fallout due to the COVID-19 pandemic.
By Tatiana Walk-Morris • March 26, 2020 -
Modell's seeks to extend bankruptcy suspension
Continued closures due to the coronavirus outbreak have stymied the retailer’s planned liquidation sales.
By Cara Salpini • Updated April 21, 2020 -
Designer Brands furloughs over 80% of employees
The footwear and accessories company is turning to e-commerce as remaining staff takes a pay cut.
By Kaarin Moore • March 26, 2020 -
Walmart, Sam's Club offer rent relief to in-store tenants
The corporation is also moving to pay suppliers faster as supply chains feel the impact of COVID-19.
By Daphne Howland • March 26, 2020 -
Macy's 'Polaris' on pause
CEO Jeff Gennette will forgo his salary as the department store, at least for now, walks back its turnaround ambitions amid the COVID-19 pandemic.
By Daphne Howland • March 26, 2020 -
Nike sees China as a 'playbook' to tackling COVID-19 in the US
The retailer reopened its first store in Wuhan, China, last week, and said it will reopen stores in North America on a location-by-location basis.
By Cara Salpini • March 25, 2020 -
Target pivots from planned investments to deal with 'unprecedented' sales surge
Consumers stocking up amid the COVID-19 pandemic have pushed comparable sales for food and essentials up 50% at the retailer.
By Ben Unglesbee • March 25, 2020 -
15K stores could permanently close in 2020, Coresight says
As the coronavirus pandemic brings a "sharp shock" to retail and triggers bankruptcies, closures this year could explode past the record set in 2019.
By Ben Unglesbee • March 25, 2020 -
Pier 1 furloughs staff, cuts wages
The program is an attempt to preserve the distressed retailer's liquidity as the COVID-19 outbreak takes a toll on the industry.
By Caroline Jansen • March 25, 2020 -
Under Armour product chief to step down
Kevin Eskridge, who has been with the company for a decade and took the chief product officer post almost three years ago, leaves Aug. 15.
By Daphne Howland • March 25, 2020 -
How retailers stay afloat during unprecedented mass closures
Around 100 retailers have closed stores as the country fights a pandemic. Now plans are going out the window and profits are taking a back seat.
By Ben Unglesbee • March 25, 2020 -
Neiman Marcus mulling bankruptcy filing: Bloomberg Law
In a statement about the report, the upscale department store said it’s "evaluating all courses of action" to preserve its financial strength.
By Daphne Howland • Updated March 24, 2020 -
S&P downgrades Kohl's, Nordstrom on coronavirus-induced disruptions
Analysts expect closed stores and a likely recession to especially weigh on department stores. Nordstrom took steps to ease that.
By Daphne Howland • March 24, 2020 -
"H&M Canal City Hakata shop in Canal City Hakata East Building at Fukuoka,Japan" by Nissy-KITAQ is licensed under CC BY-SA 3.0
H&M anticipates 'tens of thousands' of layoffs
The apparel retailer stated that temporary store closures and lower demand has "had significant negative impact on sales so far in March."
By Kaarin Moore • March 24, 2020 -
GNC downgraded after saying it probably can't pay its debt
S&P analysts said that the coronavirus pandemic, economic downturn and squeezed credit markets are weighing on the supplement retailer.
By Ben Unglesbee • March 24, 2020 -
How small retailers are coping with the pandemic
Local stores are closing, without the financial cushions enjoyed by their larger rivals, and face even more unknowns in a post-COVID-19 future.
By Daphne Howland • March 23, 2020 -
Casper's quarterly loss narrows after public debut
However, the mattress brand provided weaker than anticipated first quarter earnings guidance as a result of the evolving situation around COVID-19.
By Caroline Jansen • March 23, 2020 -
Joann downgraded as pandemic disruption looms
The crafting retailer joins Party City in getting downgraded into C-territory from S&P as COVID-19 takes its toll on sales.
By Ben Unglesbee • March 23, 2020 -
RTW Retailwinds taps new CEO from within
Traci Inglis arrived from TechStyle Fashion Group last June as chief marketing and customer officer and succeeds Gregory Scott.
By Daphne Howland • March 20, 2020 -
Walmart to add another 50K employees, require associates to wear masks
After hiring 5,000 people a day in recent weeks, the big-box retailer plans another surge of new associates as it races to meet demand.
By Kaarin Moore , Ben Unglesbee • Updated April 20, 2020