Financial News: Page 147
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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 -
Courtesy of Nordstrom
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 -
Courtesy of Hudson Group
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 -
Toms Shoes creditors take ownership of the company
The shoe seller that touts its giving model has been struggling under its debt load, but it got a deal done outside of bankruptcy.
By Ben Unglesbee • Jan. 2, 2020 -
Kendall Davis/Retail Dive
Will Gap really spin off Old Navy?
The brands' business models and customer bases have diverged, so the company's CEO decided each needs its own strategy. But he's no longer there.
By Daphne Howland • Dec. 30, 2019 -
2019 on pace for most CEO departures
While chief executive exits were down in November from the prior month, the entire year tracks 12% more than 2018, according to Challenger, Gray & Christmas.
By Lisa Rowan • Dec. 26, 2019 -
GameStop downgraded by Moody's as retailer faces 'sustained competitive threats'
The latest downgrade follows a punishing holiday season for the gaming specialist.
By Ben Unglesbee • Updated Feb. 3, 2020 -
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
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