Financial News: Page 150
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A.C. Moore to exit retail business, shutter more than 100 stores
Two years ago the crafts retailer was expanding on and offline, but has now ceased all e-commerce and said rival Michael's will take over up to 40 stores.
By Daphne Howland • Nov. 26, 2019 -
Baker group touts HBC take-private bid as 'best and final offer'
The Canadian company, which has endured since fur trading days, is likely to become a privately held enterprise with an uncertain future.
By Daphne Howland • Nov. 25, 2019 -
Courtesy of EBay
EBay to sell StubHub for over $4B in cash
The company will go to ticket marketplace Viagogo in a deal that is expected to close by the end of the first quarter of 2020.
By Kaarin Moore • Nov. 25, 2019 -
Tiffany stockholders approve LVMH acquisition
The deal is expected to close in mid-2020 and comes at a time when the jeweler could use the conglomerate's deep pockets to further its turnaround.
By Daphne Howland • Updated Feb. 5, 2020 -
The Gap Inc. breakup is on despite Old Navy woes
Many analysts were taken aback by the doubling down on plans for a spinoff, and some say it's a worrisome distraction.
By Daphne Howland • Nov. 22, 2019 -
Ross shrugs off retail's apparel doldrums as comps spike 5%
Traffic and basket sizes drove sales gains. Looking ahead, the off-pricer could benefit from a young audience and opportunities in real estate and inventory.
By Ben Unglesbee • Nov. 22, 2019 -
Courtesy of Nordstrom
Nordstrom beats the odds
The department store defied the narrative established earlier this week by Kohl's and Macy's, though its third quarter did show some signs of weakness.
By Daphne Howland • Nov. 22, 2019 -
Charlotte Russe rapidly expands store fleet
The teen apparel retailer's new brand owner has already opened 135 stores, exceeding earlier predictions, an executive told Retail Dive.
By Cara Salpini • Nov. 22, 2019 -
Cara Salpini/Retail Dive
Will Macy's close more stores?
After a disappointing quarter dragged down by locations in lower-tier malls, CEO Jeff Gennette said the company will look hard at that fleet.
By Daphne Howland • Nov. 21, 2019 -
Victoria's Secret sales fall 7.6%, weighing down L Brands
The lingerie brand isn't yet following through on promised changes to merchandise and stores, leaving Bath & Body Works to carry the quarter.
By Daphne Howland • Nov. 21, 2019 -
Ascena downgraded by S&P
Analysts with the ratings agency expect the troubled apparel retailer to seek out a debt restructuring deal as it continues to post losses and weak sales.
By Ben Unglesbee • Nov. 21, 2019 -
Why Brooklinen won't open its first permanent store in SoHo
CEO Rich Fulop says its Brooklyn location is one of "a lot of stores" the brand plans to open.
By Cara Salpini • Nov. 21, 2019 -
Target 'crushed it' in Q3 as it beat estimates
Numbers across the board were strong, but perhaps the most impressive was a 10% increase in apparel, where the retailer is grabbing market share.
By Ben Unglesbee • Nov. 20, 2019 -
Lowe's hit with $53M charge
The charge resulted from a strategic review of its Canadian operations, which includes shuttering 34 underperforming stores in the region.
By Caroline Jansen • Nov. 20, 2019 -
Stella & Dot partners with Nordstrom
The move marks the first time the direct-to-consumer business will sell its goods at brick-and-mortar locations.
By Kaarin Moore • Nov. 20, 2019 -
Kaarin Vembar/Retail Dive
7 major store closure announcements from 2019 and why they matter
After a lull in 2018, retail shutterings accelerated this year. Bankruptcy liquidations were a major factor, but so were relatively healthy retailers paring their footprints.
By Ben Unglesbee • Nov. 20, 2019 -
How Lululemon's Mall of America megastore puts experiential retail on display
Roughly 10% of the brand's stores in the future could mirror the 19,000-square-foot store, which boasts events, workout studios and a smoothie bar.
By Cara Salpini • Nov. 20, 2019 -
TJX sales soar ahead of the holidays
The off-pricer appears to be doing a better job selling department store inventory than the department stores themselves.
By Daphne Howland • Nov. 19, 2019 -
Home Depot lowers fiscal guidance, again
The home improvement retailer also missed comp sales estimates for the fourth consecutive quarter.
By Caroline Jansen • Nov. 19, 2019 -
Kohl's lowers guidance amid tepid same-store sales
The retailer may be unable to take full advantage of its traffic-boosting Amazon tie-up because its stores are underwhelming, some analysts say.
By Daphne Howland • Nov. 19, 2019 -
Patagonia opens first Worn Wear store
The outdoor retailer's resale business has opened a pop-up in Colorado, which will exclusively sell used items and products from its new ReCrafted collection.
By Cara Salpini • Nov. 18, 2019 -
Coty acquires majority stake in Kylie Jenner's beauty business for $600M
The acquisition, which includes Kylie Jenner's Kylie Cosmetics and Kylie Skin, is expected to close in the third quarter of fiscal 2020.
By Cara Salpini • Nov. 18, 2019 -
Deep Dive
3 retail turnaround success stories, and 3 turnarounds to watch
History offers good and bad news for ailing retailers: Reversing negative sales and profit trends is possible, but mostly for the strongest players in the game.
By Ben Unglesbee • Nov. 18, 2019 -
Courtesy of Nordstrom
Nordstrom revamps merchandising team
After naming its first chief merchant in August, the department store is expanding a strategy first tested in Los Angeles.
By Daphne Howland • Nov. 18, 2019 -
Walmart names new Sam's Club CEO
The retailer tapped its bench of executives to fill the role, promoting Kathryn McLay from its Neighborhood Markets unit to replace John Furner.
By Ben Unglesbee • Nov. 15, 2019
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