Financial News: Page 132
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Sycamore looks to back out of Victoria's Secret deal
The private equity firm asked a court to free it from an agreement, signed two months ago, that would give it a majority stake in the lingerie brand.
By Daphne Howland • April 22, 2020 -
With shuttered stores and slashed budgets, retail marketers have only tough choices left
If retailers don't cut costs, they may not be able to pay for essential functions. But cut too deeply and it may be hard for brands to get back out.
By Cara Salpini • April 22, 2020 -
Retrieved from Vudu on April 21, 2020
Fandango buys streaming video service Vudu from Walmart
The deal complements Peacock, the ad-supported streaming service launched last week by Fandango parent NBCUniversal.
By Robert Williams • April 22, 2020 -
Courtesy of Casper
Casper lays off 21% of staff, CFO to exit
The workforce cuts and executive departure come as the company said it's winding down its European unit to focus on North American operations.
By Caroline Jansen • April 22, 2020 -
Daphne Howland/Retail Dive
American Eagle Outfitters names new CFO
Mike Mathias first went to work at the apparel retailer in 1998, managing the finances of stores and operations, and has replaced Bob Madore.
By Daphne Howland • April 22, 2020 -
Daphne Howland/Retail Dive
Retail groups push for national pandemic insurance program
With retailers struggling to get claims paid, industry organizations support a bill that would create a federally backed loss-sharing program.
By Ben Unglesbee • April 22, 2020 -
Kaarin Vembar/Retail Dive
Why storefronts are boarded up during COVID-19
As the pandemic drags on, many companies have opted to cover up their stores. But is it the best decision long-term for a retailer's brand?
By Kaarin Moore • April 22, 2020 -
Bed Bath & Beyond taps True Value chief for COO
John Hartmann is the latest pick by new chief executive Mark Tritton, but not the last. He will arrive at a crucial time for the struggling retailer.
By Daphne Howland • April 22, 2020 -
Tapestry lays off 10% of its workforce
The conglomerate is also taking other actions to shore up finances, including the postponement, in some cases indefinitely, of new store openings.
By Daphne Howland • April 21, 2020 -
Portland, Maine backtracks to allow curbside and delivery by nonessential retail
After an outcry last week, the city council on Monday said they won't enforce rules that appear to be among the most restrictive in the country.
By Daphne Howland • April 21, 2020 -
Daphne Howland/Retail Dive
Reuters: Lord & Taylor mulls bankruptcy
In early April, parent company Le Tote laid off most employees at both entities, just months after acquiring the iconic department store from HBC.
By Daphne Howland • April 21, 2020 -
While government backstops business, distressed retailers left out, Moody's says
Without federal bail-out money, private equity owners may "determine the fate" of many troubled retail companies, analysts said in a new report.
By Ben Unglesbee • April 21, 2020 -
Buckawicki, Mark. (2014). "Dog food aisle" [Photograph]. Retrieved from Wikimedia Commons.
Pet retailers see a boost during the pandemic
The industry is taking a hit with most stores temporarily closed due to the coronavirus. But consumers are still spending on their pets.
By Caroline Jansen • April 21, 2020 -
Michaels launches contactless, same-day delivery
The craft retailer is among the latest to offer delivery options that support social distancing efforts during the COVID-19 pandemic.
By Tatiana Walk-Morris • April 20, 2020 -
Stage Stores presses vendors for concessions
The retailer was already stumbling in its plans to convert to an off-price retailer when the COVID-19 pandemic shut down its stores.
By Ben Unglesbee • April 20, 2020 -
Daphne Howland/Retail Dive
The future of Neiman Marcus: When private equity debt meets a pandemic
The storied luxury department store has been in distress for years. Now with a looming retail cataclysm, Neiman could soon file for bankruptcy.
By Ben Unglesbee • April 20, 2020 -
Lululemon CFO to depart amid pandemic
The athletics brand joins Macy's in having its chief financial officer exit at a critical moment.
By Jane Thier • April 20, 2020 -
RTW Retailwinds CEO-elect, board members step down
Traci Inglis was tapped less than a month ago to take the reins on April 17, but has resigned instead.
By Daphne Howland • April 17, 2020 -
Neiman Marcus missed bond payment, hedge fund says
The luxury department store chain's failure to pay its interest this week could set the stage for a bankruptcy — potentially a contentious one.
By Ben Unglesbee • April 17, 2020 -
Stein Mart's private equity takeover gets nixed
The retailer cited uncertainty from the COVID-19 pandemic for the mutual decision to terminate its deal with Kingswood Capital Management.
By Ben Unglesbee • April 17, 2020 -
Courtesy of Walmart
Walmart reserves pickup hour for at-risk shoppers
The retailer is offering an early morning pickup option to assist customers who are more vulnerable to COVID-19.
By Jessica Dumont • April 17, 2020 -
Toy Association launches virtual toy fair series
The events leverage tech to connect the toy industry during the COVID-19 outbreak.
By Tatiana Walk-Morris • April 16, 2020 -
Shoptalk to host virtual events
The company is providing new ways for the retail community to connect through a series of tabletalks, conferences and meetings.
By Tatiana Walk-Morris • April 16, 2020 -
Bed Bath & Beyond sells off One Kings Lane
It's the second banner the retailer has moved to unload this year, though the deal to sell PersonalizationMall.com has yet to close as planned.
By Caroline Jansen • April 16, 2020 -
J.C. Penney misses another debt payment as potential bankruptcy looms
The retailer missed a $17 million interest payment on its credit facility as Reuters reports Penney could close 200 stores in Chapter 11.
By Ben Unglesbee • Updated May 11, 2020
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