Financial News: Page 15
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ValuaVitaly via Getty Images
Makeup brand Seint to change its business model
The company is transitioning from direct selling to an affiliate commission structure and will no longer provide compensation to its sellers for recruiting efforts.
By Kaarin Moore • July 22, 2024 -
The image by cchana is licensed under CC BY-SA 2.0
ColumnThe Weekly Closeout: What the Supreme sale means for VF’s debt and Mango posts ‘record’ first half
The recent sale could spell good news for the apparel company’s upcoming maturities. Meanwhile, Mango plots expansion.
By Retail Dive Staff • July 19, 2024 -
Courtesy of Amazon
Shoppers find better deals this year as Prime Day fuels record $14.2B across e-commerce
Consumers avoided big-ticket purchases, but steep discounts drew in back-to-school shoppers and others — and not just at Amazon.
By Daphne Howland • July 18, 2024 -
The image by cchana is licensed under CC BY-SA 2.0
VF sells Supreme for $1.5B
Luxury eyewear company EssilorLuxottica agreed to buy the brand, and the deal is expected to close at the end of the year.
By Laurel Deppen • July 18, 2024 -
Courtesy of Five Below
Five Below CEO Joel Anderson resigns
The executive left “to pursue other interests” and will be replaced by COO Ken Bull in the interim. The discount retailer also cut its Q2 guidance.
By Nate Delesline III • July 17, 2024 -
Spencer Platt via Getty Images
Adidas raises guidance again as Q2 sales surge 9%
Even without Yeezy, the activewear giant’s sales are trending strongly in the right direction as styles like the Samba gain renewed steam.
By Cara Salpini • July 17, 2024 -
Daphne Howland/Retail Dive
Macy’s ends talks with Arkhouse and Brigade, foiling $6.9B takeover
The firms raised their bid in June, but their financing, tied in part to Macy’s own real estate, was lacking, the department store said Monday.
By Daphne Howland • July 15, 2024 -
Courtesy of Von Dutch
ColumnThe Weekly Closeout: Von Dutch is acquired and Bath & Body Works partners with Crocs
The fashion company was sold to WSG Brands, while the shoe collab is all decked out in gingham.
By Retail Dive Staff • July 12, 2024 -
Joe Raedle via Getty Images
One-third of consumers cut spending in Q2: report
Inflation concerns continue to weigh on shoppers, with 84% saying it has affected how they spend their money, according to a report from Jungle Scout.
By Howard Ruben • July 12, 2024 -
Daphne Howland/Retail Dive
Nike taps former executive Tom Peddie to return as vice president of marketplace partners
The 30-year veteran of the athletics retailer, who retired in 2020, is set to return as the company shifts its direct-to-consumer strategy.
By Nate Delesline III • July 10, 2024 -
Courtesy of Athletic Brewing
Nonalcoholic beer maker Athletic boosts coffers with $50M investment
The financing round will help fund the fast-growing company’s expansion efforts.
By Christopher Doering • July 10, 2024 -
Permission granted by Target
Target to stop accepting personal checks
The retailer highlighted that customers will still have six payment options after the change takes effect in about a week.
By Nate Delesline III • July 9, 2024 -
Andrew Kelly/AP
Toy company Basic Fun to restructure in bankruptcy
The downfall of Toys R Us — its largest customer — plus its own supply chain issues and the pandemic have left Chapter 11 as its best recourse.
By Nate Delesline III • July 3, 2024 -
All Bob’s Stores locations to close
The retailer was unable to secure the financing necessary to keep operating. The fate of sibling Eastern Mountain Sports remains unclear.
By Daphne Howland • July 2, 2024 -
Kevin Frayer/Getty Images via Getty Images
Nike expects more revenue declines ahead after ‘sluggish’ Q4
CEO John Donahoe said the company is “embracing a more balanced approach” to DTC and wholesale after a rough set of numbers.
By Cara Salpini • June 28, 2024 -
Permission granted by Chewy
ColumnThe Weekly Closeout: Chewy plans $500M share buyback, Conn’s receives Nasdaq delinquency notice
The online pet retailer agreed to repurchase shares from its largest shareholder, while the home retailer received the notification after not filing its latest quarterly report.
By Retail Dive Staff • June 28, 2024 -
Scott Olson via Getty Images
Walgreens to close ‘significant’ number of US stores
The company is reviewing about 25% of its 8,700 domestic stores, with profitability and level of shrink factoring into which locations stay open.
By Rebecca Pifer • June 27, 2024 -
Courtesy of Amazon
Amazon market cap reaches $2 trillion
As the company reaches a financial milestone, it is reportedly developing a budget marketplace to compete with Temu and Shein.
By Nate Delesline III • June 27, 2024 -
Daphne Howland/Retail Dive
Levi’s DTC growth speeds up in Q2 as wholesale improves
The iconic jeans maker is responding to demand for looser fits and non-denim categories and plans to expand its global footprint by 70 new stores.
By Daphne Howland • June 27, 2024 -
Justin Sullivan via Getty Images
Consumers splurge on cosmetics online despite inflation: report
While shoppers are trading down in categories like electronics and apparel, they’re continuing to buy luxury goods like fragrances and lipsticks, Adobe Analytics found.
By Howard Ruben • June 27, 2024 -
Daphne Howland/Retail Dive
Lawsuit claims Nike CEO John Donahoe misled investors about the success of its DTC strategy
The lawsuit alleges that Donahoe and Chief Financial Officer Matt Friend continually touted the strength of its strategy when in fact it was “unable to generate sustainable revenue growth.”
By Cara Salpini • June 25, 2024 -
Courtesy of Stripes Beauty
L Catterton acquires Naomi Watts’ Stripes Beauty
As part of the deal, the brand has named ex-Revlon CEO Debra Perelman as executive chair.
By Howard Ruben • June 25, 2024 -
DTC EBIT margins ‘meaningfully below’ wholesale, per report
BMO Capital Markets found that brands that grew DTC did not see a notable increase in revenue, merchandise margins, EBIT margins or EBIT dollars.
By Howard Ruben • June 24, 2024 -
Under Armour to pay $434M to settle lawsuit that claimed Kevin Plank misled investors
If approved, the agreement requires the retailer to keep its CEO and chair roles separate for three years and install a performance-based condition for some executive stock benefits.
By Cara Salpini • June 24, 2024 -
Permission granted by Stanley
Arc’teryx, Stanley among fastest-growing outdoor brands
A report from Circana found the two brands led the apparel and equipment accessories segments, respectively, with strong year-over-year growth.
By Cara Salpini • June 24, 2024
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