Financial News: Page 179
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Kohl's CEO: 'We are financially strong'
According to analysts, the retailer is improving in-store and mobile experiences for shoppers, but net income for the quarter fell 42% and 7% for the year.
By Kaarin Moore • March 5, 2019 -
Dollar Shave Club expands products amid lifestyle push
The company, bought for $1 billion by CPG giant Unilever three years ago, continues to take steps beyond its core razor product.
By Corinne Ruff • March 5, 2019 -
Art Peck: 'We're opening Gap stores'
The Gap Inc. CEO just days ago said 230 locations would shutter. At Shoptalk he said others are opening, but they won't be in malls.
By Daphne Howland • March 5, 2019 -
David's Bridal CEO, CFO step down
The retailer announced a change in executive leadership and appointed a strategic advisor.
By Kaarin Moore • March 5, 2019 -
Diesel USA's Ch. 11 plan approved
The jeans retailer cited several reasons for bankruptcy including expensive leases, a downturn in wholesale orders and numerous instances of fraud.
By Kaarin Moore • Updated April 17, 2019 -
Macy's: 'We know we have to disrupt ourselves'
At Shoptalk, department stores are invoked as either what not to be or what must change in retail. But the retailers themselves say they're staging a comeback.
By Daphne Howland • March 4, 2019 -
Gap Inc.'s $35M bid for Janie and Jack approved
A $76 million bid from The Children's Place for the remaining Gymboree and Crazy 8 assets was also approved, effectively splitting the struggling retailer among its rivals.
By Cara Salpini • Updated March 5, 2019 -
Judge dismisses Marble Ridge suit against Neiman Marcus
A Texas judge on Tuesday concluded that the lawsuit regarding Neiman Marcus' transfer of its MyTheresa business lacked "subject matter jurisdiction."
By Corinne Ruff • Updated March 19, 2019 -
Retrieved from Amazon on October 09, 2018
WSJ: Amazon plans to launch new grocery chain
The yet-to-be-named business will be distinct from the Whole Foods brand and could open its first store as early as this year in Los Angeles.
By Jeff Wells , Jessica Dumont • March 1, 2019 -
Wayfair will open new last-mile facilities every month in 2019
Though net loss is growing for the company, Wayfair's CEO said the e-commerce giant is playing a long game — seizing control of its supply chain from both ends.
By Emma Cosgrove • March 1, 2019 -
Nordstrom Rack overshadows flagship again
The department store's innovations and loyalty revamp appear to be paying off.
By Daphne Howland • March 1, 2019 -
Old Navy goes it alone in wake of Gap breakup
Less than two years after forging a growth plan dependent on its best performing brand, Gap Inc. is letting it go as 230 namesake stores shutter.
By Daphne Howland • March 1, 2019 -
Majority of Neiman Marcus lenders, noteholders sign on to 3-year debt extension
The luxury department store retailer says the agreement will provide it with ample runway to execute its transformation plan.
By Corinne Ruff • Updated March 26, 2019 -
Foot Locker records strongest sales in company history
Sales landed at $7.9 billion in a year that featured strong investments and the shuttering of unprofitable stores, including a wind down of the SIX:02 business.
By Cara Salpini • March 1, 2019 -
Debtwire: Pier 1 lenders organize amid concerns of financial deterioration
The company's financial picture is increasingly grim, but with liquidity and borrowing capacity it still has time to turn things around.
By Corinne Ruff • March 1, 2019 -
"Michaels Arts And Crafts store - Saugus, Massachusetts" by Anthony92931 is licensed under CC BY-SA 3.0
Michaels names new CEO, loses CFO
Ashley Buchanan, who served as an executive at Walmart for more than a decade, is set to take over the top role at the crafts retailer.
By Corinne Ruff , Ben Unglesbee • Updated Dec. 27, 2019 -
Gap to spin off Old Navy into separate public company
"As a result, both companies will be well positioned to capitalize on their respective opportunities and act decisively in an evolving retail environment.” Art Peck, President and CEO of Gap Inc., said in a statement.
By Corinne Ruff • Feb. 28, 2019 -
Retrieved from Ebay on February 28, 2019
EBay to cede 2 board seats as settlement nears: WSJ
The online marketplace is under pressure from activist investors Elliott Management and Starboard Value to spin off some of its business units and drive more shareholder value.
By Corinne Ruff • Feb. 28, 2019 -
Marshalls looks online for growth
Off-price retailers thrive thanks to a store-based treasure hunt, but the digital channel can no longer be ignored.
By Daphne Howland • Feb. 28, 2019 -
L Brands to shutter 53 Victoria's Secret stores
The lingerie market leader continues to see declines, especially in stores, as many consumers reject the brand's sexy image.
By Daphne Howland • Feb. 28, 2019 -
DSW doubles down on nail services
The shoe store chain will add five more nail salons to stores amid its quest to provide more engaging experiences and services.
By Corinne Ruff • Feb. 28, 2019 -
Deep Dive
DTC brands reap the rewards — and risks — of taking a stand
Newcomers like Billie, Knix and AUrate benefit from customer relationships built on mission. But bolder stances invite scrutiny of their promises.
By Corinne Ruff • Feb. 28, 2019 -
Costco surpasses Amazon in customer satisfaction survey
The club retailer's investments in online shopping are paying off, according to the latest American Consumer Satisfaction Index report.
By Krishna Thakker • Feb. 28, 2019 -
J.C. Penney adds 9 more stores to closure count
The discount department store is on the right track scrapping unprofitable operations, but it must also solve a more existential crisis.
By Daphne Howland • Updated March 27, 2019 -
TJX profits dip as Q4 sales and traffic surge
The off-price retailer is poised to maintain its leadership position in a segment that is defying current retail imperatives.
By Daphne Howland • Feb. 27, 2019