Financial News: Page 141
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NRF says retail sales this year could top $3.9T despite coronavirus woes
The organization calculates growth of 3.5% to 4.1%, but some analysts warn that uncertainty around the growing pandemic could hit hard.
By Daphne Howland • Feb. 28, 2020 -
Bed Bath & Beyond to cut 500 jobs
The struggling home retailer plans to reduce corporate staff by 10%, a move expected to save $85 million in selling, general and administrative costs.
By Caroline Jansen • Feb. 28, 2020 -
Cara Salpini/Retail Dive
Foot Locker plans 20 new power stores and 125 remodels in 2020
The moves are part of a $275 million investment in stores, digital and supply chain.
By Cara Salpini • Feb. 28, 2020 -
Stage Stores' latest planned closures top 200
As its transformation stumbles, sources estimate the retailer has cut up to 100 jobs and is eyeing a footprint nearly 30% smaller than it expected.
By Ben Unglesbee • Feb. 28, 2020 -
Best Buy posts 12th straight period of comp growth with Q4
The electronics retailer held the line on pricing, but soft demand and coronavirus concerns could make for a slower 2020.
By Ben Unglesbee • Feb. 27, 2020 -
J.C. Penney Q4 sales down 7.7%, to close 'at least' 6 more stores
The retailer logged positive profit and beat analyst expectations for the holiday quarter, but its turnaround still has a long way to go.
By Ben Unglesbee • Feb. 27, 2020 -
Courtesy of L Brands
Bath & Body Works expansion plans rattle some nerves
L Brands' fourth quarter report revealed few surprises, but some details on its deal to sell a majority of the lingerie business exposed vulnerabilities.
By Daphne Howland • Feb. 27, 2020 -
Walmart merges store and online buying after decades of siloed operations
The move to unify buying across the business builds on Walmart's efforts to streamline and strengthen its omnichannel operations.
By Emma Cosgrove • Feb. 27, 2020 -
Stage Stores cuts staff, closes dozens of stores
Dozens of locations under the Gordmans banner, which the retailer has staked its future on, are closing as the company tries to rein in its finances.
By Ben Unglesbee • Feb. 26, 2020 -
Home Depot, Lowe's sales boosted by healthy housing market
Both retailers are in transformation mode, placing an emphasis on their digital operations.
By Caroline Jansen • Feb. 26, 2020 -
TJX's tear continues as Q4 sales rise 10%
The off-price retailer beat analyst and its own expectations for the quarter, setting the stage for more market share gains in 2020.
By Ben Unglesbee • Feb. 26, 2020 -
J.C. Penney's chief customer officer steps down
Shawn Gensch was on the job less than a year, and was supposed to be a "vital component" of the executive team CEO Jill Soltau built.
By Ben Unglesbee • Feb. 26, 2020 -
Courtesy of H&M
Forever 21 names new CEO
Daniel Kulle, who worked with rival H&M for over 20 years, will focus on increasing sustainability and digital efforts at the fast fashion retailer.
By Kaarin Moore • Feb. 26, 2020 -
Target poised to be a top e-commerce player in 2020
The retailer's investments are "paying off," while Amazon still commands the lion's share of the market, according to eMarketer.
By Ben Unglesbee • Feb. 25, 2020 -
Macy's beats low expectations for Q4
Sales and profits fell, but not as much as feared, as executives gear up for the retailer's latest attempt to transform in an ailing department store sector.
By Ben Unglesbee • Feb. 25, 2020 -
Rue21 CEO exits
Interim CEO John Fleming brings with him exec experience from Walmart and Uniqlo, and says the teen apparel retailer is ready for its next stage of growth.
By Kaarin Moore • Feb. 25, 2020 -
Modell's to close 19 stores, offer up minority stake
CEO Mitchell Modell said in a statement Monday that the athletics retailer was looking for outside investment to help save the business.
By Cara Salpini • Feb. 25, 2020 -
Guitar Center downgraded as gains fail to reduce debt load
The musical instrument retailer has grown its sales and underlying profitability, but can't shake its leverage, according to Moody's analysts.
By Ben Unglesbee • Feb. 24, 2020 -
Cara Salpini/Retail Dive
Outdoor Voices cuts jobs as founder Tyler Haney resigns
Haney's exit from the brand comes just days after the company announced she would step down from the CEO role.
By Cara Salpini • Updated Feb. 26, 2020 -
Next 100: Sephora's head of stores talks expansion
Jeff Gaul shares how the retailer chose its next wave of locations to open and what it was like redesigning Sephora for a smaller format.
By Cara Salpini • Feb. 24, 2020 -
Adidas, Ikea lead on sustainable cotton sourcing
The athletic retailer knocked H&M down from the top spot, according to the latest Sustainable Cotton Ranking, which looked at a group of 77 firms.
By Emma Cosgrove • Feb. 24, 2020 -
L Brands CEO Les Wexner to step down as private equity takes over Victoria's Secret for $525M
Sycamore Partners' stake takes the lingerie brand private, leaving better-performing Bath & Body Works to prosper on its own.
By Daphne Howland • Feb. 20, 2020 -
Cara Salpini/Retail Dive
Sephora 'not moving forward' with Sephora Studio concept
The smaller store format focused on services and a curated assortment. Now, the beauty retailer will focus its footprint elsewhere.
By Cara Salpini • Feb. 20, 2020 -
Cara Salpini/Retail Dive
Pier 1's moment of truth
Any number of things could happen to the retailer at this point: reorganization, a sale, disassembly or liquidation. The coming weeks will determine its fate.
By Ben Unglesbee • Feb. 20, 2020 -
Cara Salpini/Retail Dive
Christopher & Banks, RTW top S&P list of most vulnerable retailers
Nordstrom edged onto the list, taking the No. 15 slot, as the department store struggles to maintain sales growth.
By Ben Unglesbee • Feb. 20, 2020
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