Financial News: Page 15
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JP Yi via Getty Images
LVMH sells Off-White to Bluestar Alliance
The New York-based brand management company said the acquisition allows it to build on the legacy of label founder Virgil Abloh, who died in 2021.
By Lara Ewen • Oct. 1, 2024 -
Daphne Howland/Retail Dive
J.C. Penney swings into the red as Q2 sales plunge
The department store’s turnaround is focused on working families, which have been especially hard hit by economic challenges like inflation.
By Daphne Howland • Sept. 30, 2024 -
Joe Raedle via Getty Images
Costco CFO targets lower prices amid ‘effectively flat’ inflation
The big-box retailer lowered the cost of its store brand items as high food prices become a hot-button issue in the presidential election.
By Maura Webber Sadovi • Sept. 30, 2024 -
Courtesy of MeUndies
MeUndies names senior vice president of sales
Elizabeth Dunn, who most recently held the same position with Calvin Klein Intimates, will be focused on growing the DTC brand’s wholesale presence.
By Howard Ruben • Sept. 27, 2024 -
Courtesy of Foot Locker, Inc.
Former Foot Locker exec charged with insider trading
Barry Siegel, who was formerly the senior director of order planning management for North America, has agreed to pay almost $236,000 to settle the case.
By Cara Salpini • Sept. 26, 2024 -
Courtesy of Stitch Fix
Stitch Fix expects return to growth in 2 years
CEO Matt Baer said the company’s cost cuts and customer experience changes are paying off, but warned that “transformations take time.”
By Daphne Howland • Sept. 25, 2024 -
Courtesy of Grove Collaborative
Grove Collaborative snags $15M in new investment, will pay off term debt
Volition Capital noted progress at the consumer products brand since the firm’s first outlay of $10 million and a leadership shakeup last year.
By Daphne Howland • Sept. 24, 2024 -
Anna Moneymaker via Getty Images
Fed cuts main rate by half point, voices confidence that inflation is falling
The central bank trimmed borrowing costs from a two-decade high after policymakers noted their growing concern about a softening labor market.
By Jim Tyson • Sept. 19, 2024 -
"HK TKO zh:將軍澳 Tseung Kwan O PopCorn mall shop in January 2022" by CAHOGNSUIE 202 KADPA is licensed under CC BY-SA 4.0
Would-be Estée Lauder investor has no plans to boost ‘mini-tender’ offer
The luxury beauty and fashion conglomerate said it doesn’t endorse the below-market bid, which doesn’t require typical disclosures because it’s for less than 5% of its outstanding shares.
By Daphne Howland • Sept. 16, 2024 -
Daphne Howland/Retail Dive
Build-A-Bear names chief revenue officer
David Henderson, who previously worked with Hasbro and Melissa & Doug, comes to the retailer after it reported a record Q2.
By Nate Delesline III • Sept. 13, 2024 -
With new investment, Kendra Scott eyes geographic, category growth
Private equity firm 65 Equity Partners has invested an undisclosed amount in the accessories brand, though founder Scott herself retains a majority stake.
By Daphne Howland • Sept. 13, 2024 -
Daphne Howland/Retail Dive
ColumnThe Weekly Closeout: Sephora North America names next CFO and Petco’s losses grow
Ten-year company veteran Delphine Herve will take on the position at the beauty retailer. Meanwhile, the pet retailer saw net loss surge by 70% in Q2.
By Retail Dive Staff • Sept. 13, 2024 -
Courtesy of Big Lots
Big Lots gets court OK for $550M in bankruptcy financing
The funding will allow the bargain-focused retailer to continue normal operations, including paying employees and vendors.
By Nate Delesline III • Sept. 12, 2024 -
Daphne Howland/Retail Dive
GameStop eyes more store closures as sales fall 31%
A store optimization review is underway as the video game retailer continues to face significant obstacles.
By Nate Delesline III • Sept. 11, 2024 -
Permission granted by Shoe Carnival
The big switch: Why Shoe Carnival is flipping some of its stores into Shoe Stations
In a few test locations, stores that were rebannered as Shoe Stations performed “exceptionally well,” according to CEO Mark Worden.
By Kaarin Moore • Sept. 11, 2024 -
Permission granted by Backcountry
Backcountry acquired by CSC Generation Enterprise
The outdoor gear retailer will continue to operate under its own name and recently moved to expand into wholesale.
By Nate Delesline III • Sept. 10, 2024 -
Cara Salpini/Retail Dive
Under Armour to close California distribution center amid restructuring plan
The decision to exit one of its primary distribution facilities will cost the athletics retailer an additional $70 million in restructuring charges.
By Cara Salpini • Sept. 10, 2024 -
"Lumber Liquidators store, 2321 Ellsworth Road, Ypsilanti Township, Michigan." by Dwight Burdette is licensed under CC BY 3.0
Private equity firm sweeps up LL Flooring, which will stay in business after all
The bankrupt home improvement company, previously Lumber Liquidators, has inked a deal to be acquired by F9 Investments, its largest shareholder.
By Daphne Howland • Sept. 9, 2024 -
Nate Delesline III/Retail Dive
Big Lots files for Chapter 11 bankruptcy
The bargain-focused retailer said Nexus Capital Management has offered a $620 million stalking horse bid.
By Nate Delesline III • Sept. 9, 2024 -
"Lumber Liquidators store, 2321 Ellsworth Road, Ypsilanti Township, Michigan." by Dwight Burdette is licensed under CC BY 3.0
LL Flooring to liquidate, close all stores after no buyer found
"This is not the outcome that any of us had hoped for," CEO Charles Tyson said in messages to customers and vendors.
By Nate Delesline III • Sept. 6, 2024 -
Kaarin Vembar / Retail Dive/Retail Dive
ColumnThe Weekly Closeout: Under Armour hires (another) Adidas vet and Bluemercury turns 25
The athletics retailer appointed a new leader in its Europe, the Middle East and Africa division, while the beauty company refreshed its online presence.
By Retail Dive Staff • Sept. 6, 2024 -
Nate Delesline/Retail Dive
Dollar Tree delivers weak Q2, cuts full-year guidance
Family Dollar customers are leaving for other stores like Walmart, according to analysts, as the banner shrinks its footprint.
By Nate Delesline III • Sept. 4, 2024 -
Daphne Howland/Retail Dive
While others falter, Dick’s stays strong with 8% sales growth
CEO Lauren Hobart said the retailer continues to thrive thanks to long-term investments in product assortment, customer experience and stores.
By Cara Salpini • Sept. 4, 2024 -
Courtesy of L Brands
Bath & Body Works’ semi-annual sale ‘fell short of our expectations’
As a result, the company is evaluating its approach to the event, including the timing, marketing and messaging.
By Kaarin Moore • Sept. 4, 2024 -
Michael M. Santiago via Getty Images
Walgreens sued by shareholder amid plummeting stock price
The company’s top directors — including CEO Tim Wentworth and CFO Manmohan Mahajan — allegedly breached their fiduciary duty by inflating Walgreens’ performance projections.
By Rebecca Pifer • Sept. 4, 2024
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