Financial News: Page 142
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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 -
New Forever 21 owners in search of a CEO
Authentic Brands Group and mall landlords Simon and Brookfield took over from the retailer's founders Thursday, as fast fashion falters.
By Daphne Howland • Feb. 20, 2020 -
Nike's new CEO shuffles C-suite
The athletic brand gets a new COO, CFO, and president of consumer and marketplace to replace two top executives who will retire.
By Cara Salpini • Feb. 19, 2020 -
Bed Bath & Beyond lays out $1B turnaround plan
Last week the retailer said holiday comp sales were down 5.4% due in part to foot traffic declines. Now the retailer plans to invest up to $400 million in stores.
By Caroline Jansen • Feb. 19, 2020 -
Mattel to reduce SKUs 30% by the end of the year
Simplifying its supply chain, which included factory closures and predictive algorithms for forecasting, resulted in $797 million in 2019 cost savings.
By Emma Cosgrove • Feb. 19, 2020 -
Macy's downgraded as 'Polaris' strategy begins
Ratings cuts from S&P Global pushed the retailer's debt out of investment grade territory, even as analysts signaled patience with its turnaround.
By Daphne Howland • Feb. 19, 2020 -
M.M.LaFleur pulls back on plus-size apparel
Plus sizes make up less than 5% of the company's revenue. "We have struggled to find the reach that we had hoped for," said CEO Sarah LaFleur.
By Kaarin Moore • Feb. 19, 2020 -
Pier 1 files for Chapter 11
The home goods retailer has already begun looking for buyers to sell itself in bankruptcy.
By Caroline Jansen • Feb. 18, 2020 -
Retrieved from Walmart on May 08, 2019
Walmart posts 'tepid' Q4 as toys, apparel sales fall short
The retailer missed expectations for sales during the quarter, but executives and analysts still see a strong underlying business.
By Ben Unglesbee • Feb. 18, 2020 -
Two months into 2020, 6 retailers have named or laid off a CMO
Shuffling in the role comes after a record year of CEO departures, and includes the likes of Gap, Lululemon and Tailored Brands.
By Cara Salpini • Feb. 18, 2020 -
Bed Bath & Beyond sells keepsakes site to 1-800-Flowers for $252M
The struggling retailer bought PersonalizationMall.com in 2016 for $190 million. Analysts hailed the sale, and called for even more.
By Daphne Howland • Feb. 18, 2020 -
The Body Shop to begin 'open hiring,' skipping background checks
Under the model, job openings will be filled on a first-come, first-served basis by any applicant who meets basic requirements.
By Ryan Golden • Feb. 18, 2020 -
Former Ascena exec named CEO of Francesca's
Andrew Clarke spent two years at the apparel conglomerate, most recently at Loft, and takes the reins at the retail chain after a tough year.
By Daphne Howland • Feb. 14, 2020 -
Wayfair lays off 550 employees
The job cuts, which impact about 3% of its global workforce, come as the online home goods retailer struggles to become profitable.
By Caroline Jansen • Feb. 14, 2020 -
Rent the Runway taps former Amazon exec as chief supply chain officer
Brian Donato previously worked at the e-commerce giant in operational roles related to returns and fulfillment.
By Shefali Kapadia • Feb. 14, 2020 -
Walmart to end Jet Black service
The retail giant is pulling back on its high-end shopping service in New York and folding the technology into its broader business.
By Ben Unglesbee • Feb. 13, 2020 -
Another bleak quarter ahead for Bed Bath & Beyond
Store traffic declines caused the struggling retailer's comparable sales to fall more than 5% in December and January.
By Caroline Jansen • Feb. 13, 2020 -
Kohl's cuts 250 jobs amid restructuring
The retailer appeared to be operating above the fray in the department store segment, but ended the year with sales and profits dipping.
By Daphne Howland • Feb. 13, 2020 -
Rue21 adds plus-size apparel to more store locations
The teen apparel retailer is building out its extended sizes while others in the segment either disappear or face an uncertain future.
By Kaarin Moore • Feb. 13, 2020 -
Modell's works with vendors, landlords to avoid bankruptcy
Mitchell Modell told Retail Dive the retailer has hired restructuring advisers and is turning to vendors and landlords to see it through a rough patch.
By Daphne Howland • Feb. 12, 2020 -
Forever 21's $81M sale wins court approval
Simon Property, Brookfield and Authentic Brands are set to take over the ailing retailer, despite objections from suppliers who say they are owed millions.
By Ben Unglesbee • Feb. 12, 2020 -
Inter Ikea Group names new CEO
As the Swedish furniture retailer undergoes a period of transformation, it once again looked to its bench to fill a key executive role.
By Caroline Jansen • Feb. 12, 2020 -
87% of US businesses in China expect coronavirus to impact revenue
Companies ranging from Apple suppliers to Nissan have announced plans to temporarily pause production as a result of the virus outbreak.
By Matt Leonard • Feb. 11, 2020 -
Under Armour weighs dropping NY flagship to focus on financials
Opening a store on Fifth Avenue may no longer be practical as the company tries to balance costs and investments.
By Cara Salpini • Feb. 11, 2020 -
Amazon upgraded even as it ploughs money into shipping
The company's financial position remains strong thanks in large part to AWS, according to Moody's.
By Ben Unglesbee • Feb. 11, 2020