Financial News: Page 142
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Store closures pass 9K in 2019
Bankruptcies, liquidations and less dramatic footprint tinkering drove the closure count more than 60% higher than in 2018, according to Coresight Research.
By Ben Unglesbee • Dec. 23, 2019 -
David's Bridal names first chief digital experience officer
The move comes as the retailer steadies itself after a year of financial upheaval.
By Tatiana Walk-Morris • Dec. 23, 2019 -
Courtesy of Nike
Nike CEO Mark Parker's last report marked by first $1B quarter for Jordan
On Jan. 13, Parker will step into the role of executive chairman. He exits the chief executive role after a $10 billion second quarter.
By Cara Salpini • Dec. 20, 2019 -
Tractor Supply promotes former Sears exec to SVP of e-commerce
Letitia Webster will lead e-commerce, omnichannel and data management operations for the retailer.
By Tatiana Walk-Morris • Dec. 20, 2019 -
BJ's names new CEO
Lee Delaney will take over the top role in February, while current chief executive Christopher Baldwin will become executive chairman.
By Jeff Wells • Dec. 20, 2019 -
Construction wraps up on New Jersey's $6B American Dream project
The venue is expected to pull in tourists from outside of the area to become a destination on its own. The developer aims to attract 40 million visitors a year.
By Jennifer Goodman • Dec. 20, 2019 -
Rite Aid finds 'momentum' as it returns to profitability in Q3
The drugstore retailer got a boost from its pharmacy services unit as it tries to engineer a lasting turnaround.
By Ben Unglesbee • Dec. 19, 2019 -
L Brands downgraded as changing tastes present 'significant risk'
Moody's analysts noted the company still had scale and a big customer base, but sales declines at Victoria's Secret are dragging on its finances.
By Ben Unglesbee • Dec. 18, 2019 -
Courtesy of Ulta
Ulta promotes 4 high-level execs
Reorganization at the beauty retailer has led to a new chief marketing officer, chief merchandising officer, chief digital officer and head of international.
By Cara Salpini • Dec. 18, 2019 -
Poor inventory management weighs down the apparel industry
Tariffs and changing tastes may be challenges, but they don't explain the inventory management flaws underlying the modern apparel industry.
By Emma Cosgrove • Dec. 18, 2019 -
Retail to keep growing in 2020 as investments pay off, Moody's says
Analysts expect "broad-based" increases in operating profit, but not every sector of the industry will enjoy growth.
By Ben Unglesbee • Dec. 17, 2019 -
6 senior execs out at Bed Bath & Beyond
CEO Mark Tritton said the departures, which include its chief marketing officer and chief merchandising officer, are the first of many steps in the retailer's turnaround.
By Caroline Jansen • Dec. 17, 2019 -
November's sluggish retail sales aren't worrying the industry yet
Independent and NRF analysts blamed the late Thanksgiving holiday for an industry performance that fell short of expectations.
By Ben Unglesbee • Dec. 16, 2019 -
Hudson's Bay chairman reportedly considering upping buyout offer
The investors looking to take the retailer private have been talking with minority shareholders, including a vocal opponent to the original offer.
By Ben Unglesbee • Updated Jan. 2, 2020 -
"Michaels Arts And Crafts store - Saugus, Massachusetts" by Anthony92931 is licensed under CC BY-SA 3.0
Retailers edging toward the brink
They may be healthy compared to distressed peers, but there are plenty of retailers challenged by sales declines that could face deeper trouble ahead.
By Ben Unglesbee • Dec. 16, 2019 -
Trump cancels Dec. 15 China tariffs
The cancellation of tariffs on $120 billion worth of goods was anticipated, given its timing close to the holiday season and the large number of consumer products the list targeted.
By Shefali Kapadia • Dec. 13, 2019 -
J. Jill downgraded after marketing and merchandise misses drag sales
S&P Global analysts said the apparel seller's debt could become unsustainable if margins and sales continue eroding.
By Ben Unglesbee • Dec. 13, 2019 -
Kate Spade CEO to exit
Anna Bakst will leave by the end of the year as the company struggles to find its footing within the larger Tapestry conglomerate.
By Kaarin Moore • Dec. 13, 2019 -
Bonobos founder Andy Dunn to leave Walmart
The executive said on LinkedIn he would leave early next year.
By Ben Unglesbee • Dec. 12, 2019 -
The Children's Place lowers Q4 guidance
The kids apparel retailer adjusted its outlook due to "meaningfully weaker than planned mall traffic," sending shares down nearly 23%.
By Caroline Jansen • Dec. 12, 2019 -
Lululemon executes on strategic plan, with 38% men's growth
Digital comps also increased 30% and contributed $247 million to total revenue, or close to 27%.
By Cara Salpini • Dec. 12, 2019 -
"Michaels Arts And Crafts store - Saugus, Massachusetts" by Anthony92931 is licensed under CC BY-SA 3.0
Michaels downgraded after Q3 exposes 'weakening' competitive foothold
The retailer's comparable sales recently fell more than 2% as competitors across the industry try to cash in on the crafting boom.
By Ben Unglesbee • Dec. 12, 2019 -
Retrieved from Nike on December 12, 2019
Nike expands swimwear to include a swim hijab
The swimwear expansion is the brand's latest effort to reach new customers with performance-focused athletic wear.
By Tatiana Walk-Morris • Dec. 12, 2019 -
Glimmers of hope at Francesca's
Despite a rash of store closures, the retailer finally got comps into positive territory after 10 quarters of declines, and is ready for a new CEO.
By Daphne Howland • Dec. 11, 2019 -
GameStop's year gets bleaker as comps plunge 23%
The retailer's CEO said declines across its business were in line with a gaming industry stuck in transition between consoles.
By Ben Unglesbee • Dec. 11, 2019
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