Financial News: Page 135
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Party City fills CFO slot with retail vet as it tries to rebound from sluggish 2019
Todd Vogensen, currently CFO of Chico's, will be tasked with helping the party goods chain improve its bottom line after a year of declining sales.
By Jane Thier • Jan. 12, 2020 -
Pier 1 downgraded by Moody's
Just days ago the retailer signaled it could close nearly half its store fleet, though analysts question whether that's enough to stem losses.
By Caroline Jansen • Jan. 10, 2020 -
PVH completes sale of Speedo North America for $170M
Pentland Group will now operate the Speedo business worldwide.
By Daphne Howland , Kaarin Moore • Updated April 7, 2020 -
Target launches private label activewear line
The mass merchant touted the "All in Motion" brand's prices, inclusive sizing and sustainable fabrics as it takes aim at the sportswear market.
By Ben Unglesbee • Jan. 10, 2020 -
WWD: Amazon to sell luxury fashion
The high-end platform would provide a level of control not usually granted to brands, and would be a departure for the e-commerce giant.
By Daphne Howland • Jan. 10, 2020 -
Bed Bath & Beyond to delay closure of 20 stores
After reporting "unsatisfactory" third quarter results, the troubled retailer withdrew its full-year outlook.
By Caroline Jansen • Jan. 9, 2020 -
Holiday sales by the numbers: Target same-store sales up 1.4%, miss estimates
The retailer's overall sales were dragged down by comp declines in electronics and home, while toys — an important category in the period — remained flat.
By Ben Unglesbee , Daphne Howland • Updated Jan. 16, 2020 -
Lululemon names Nike veteran first chief brand officer
Nikki Neuburger spent 14 years at the global sportswear giant and oversaw the Nike Membership division, among other things.
By Cara Salpini • Jan. 9, 2020 -
P&G snaps up women's shaving disruptor Billie
The CPG giant wants to invigorate its grooming business by combining consumer insights, digital capabilities and innovation with another DTC buy.
By Robert Williams • Jan. 9, 2020 -
Court rules Walmart must pay drivers $54.6M for layover, break time
The drivers filed a class-action suit seeking back pay for time spent in layover, on break or in inspections.
By Matt Leonard • Jan. 9, 2020 -
Ex-Taco Bell brand chief Marisa Thalberg lands at Lowe's
In a statement, the retailer's CEO, Marvin Ellison, called out Thalberg's expertise in building "culturally resonant brands."
By Peter Adams • Jan. 8, 2020 -
Walgreens centers strategy on cost cuts
The drugstore's problem lies in outdated stores, where its greatest retail strength, beauty, underperformed against the wider market.
By Daphne Howland • Jan. 8, 2020 -
Kohl's shares downgraded by Cowen as it faces sales, margin pressures
The department store has plenty working in its favor but plays in a troubled sector and needs to find ways to win over younger shoppers, analysts say.
By Ben Unglesbee • Jan. 8, 2020 -
West Elm partners with DTC plant brand Bloomscape
The collaboration marks the direct-to-consumer company's first with a major retailer and follows a late 2019 Series A funding round of $7.5 million.
By Caroline Jansen • Jan. 8, 2020 -
Macy's says it will close 29 stores
While its holiday sales decline wasn't as steep as feared, the department store is once again reducing its fleet.
By Daphne Howland • Jan. 8, 2020 -
Pier 1 to close up to 450 locations
The decision to reduce its footprint by nearly half follows a report the retailer is cutting corporate staff by 40% and has drafted a bankruptcy plan.
By Caroline Jansen • Jan. 7, 2020 -
Placer.ai: Target, Bed Bath & Beyond, CVS and Ulta poised to win in 2020
Some of the strongest players in their sectors could make even more gains, while the industry watches to see if Bed Bath & Beyond can turn itself around.
By Ben Unglesbee • Jan. 7, 2020 -
Avon names new CEO
The appointment of Angela Cretu, who has been with the company for more than 20 years, comes as Natura closed a deal to acquire the cosmetics brand.
By Kaarin Moore • Jan. 7, 2020 -
Forever 21 relaunches international e-commerce
In partnership with cross-border e-commerce platform Global-e, the bankrupt fast-fashion retailer aims to capture sales after closing most overseas stores.
By Daphne Howland • Jan. 7, 2020 -
Bed Bath & Beyond strikes real estate deal worth $250M
The proceeds from the sale-leaseback transaction will be used in part to repay a portion of the retailer's $1.5 billion worth of debt.
By Caroline Jansen • Jan. 6, 2020 -
HBC shareholders overwhelmingly approve take-private deal
The Canadian retailer will exit the Toronto exchange in early March and attempt a turnaround out of the public sphere.
By Ben Unglesbee , Daphne Howland • Updated Feb. 28, 2020 -
Ikea ends US sales on Amazon
The Swedish furniture retailer is among the latest to exit the marketplace, following Nike's recent departure from the platform.
By Caroline Jansen • Jan. 6, 2020 -
Nordstrom rises as JP Morgan boosts stock target
The retailer is showing how Local stores and other inventory strategies are differentiating it from its department store peers.
By Daphne Howland • Jan. 6, 2020 -
Lowe's to hire more than 53K this spring
The announcement comes just months after the retailer reportedly told "thousands" of store-level workers it was eliminating their positions.
By Caroline Jansen • Jan. 3, 2020 -
Retailers led job cuts in 2019
December's downsizing decreased, however, thanks to a "wait and see" approach going into 2020, according to Challenger, Gray & Christmas.
By Daphne Howland • Jan. 3, 2020