Financial News: Page 19
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Daphne Howland/Retail Dive
Warby Parker narrows losses in Q1 as it posts 16.3% revenue growth
The brand is continuing to build out its footprint, opening eight stores in the first quarter and planning 40 net new stores by the end of the year.
By Caroline Jansen • May 9, 2024 -
Caroline Jansen/Retail Dive
Allbirds revenue plummets 28% in Q1 as CEO says the brand is ‘executing with urgency’
Joe Vernachio said the retailer shuttered three stores in the quarter and is on track with its planned closures, which will amount to 10 to 15 this year.
By Cara Salpini • May 9, 2024 -
Courtesy of SpoiledChild
Oddity posts ‘record’ revenue growth in Q1, raises full-year outlook
The company said that Il Makiage and SpoiledChild are on track to become billion-dollar brands.
By Howard Ruben • May 9, 2024 -
Daphne Howland/Retail Dive
Simon Property Group would put up no capital to buy Express
That price could explain why the mall REIT is willing to jump back into ownership of retail tenants after scaling back over the past several months.
By Daphne Howland • May 9, 2024 -
Kaarin Vembar/Retail Dive
Foxtrot’s assets to be sold this week
Friday’s foreclosure sale will include “substantially all of the assets” of the c-store retailer, including inventory, intellectual property, documents and more.
By Brett Dworski • May 8, 2024 -
Courtesy of Qurate Retail Inc.
Qurate Retail Group swings to a net loss as revenue falls 11% in Q1
The company's U.S. QVC and HSN unit saw sales decrease 4% during the period, citing declines in home and apparel.
By Nate Delesline III • May 8, 2024 -
Courtesy of Meati Foods
Meati bucks trend and gets $100M funding boost
While the alternative meat sector has been struggling to raise funds, the Boulder-based company is on its way to becoming a household name.
By Elizabeth Flood • May 8, 2024 -
Courtesy of HeyDude X Foot Locker
Heydude still a drag on Crocs in Q1
Former Ulta exec Susan Healey has been appointed chief financial officer, replacing Anne Mehlman, now Crocs brand chief.
By Daphne Howland • May 7, 2024 -
Daphne Howland/Retail Dive
Beyond Inc. focuses on brand differentiation as losses widen in Q1
The company is expected to relaunch Zulily in Q3 as it looks to build out sister brands Bed Bath & Beyond and Overstock.
By Nate Delesline III • May 7, 2024 -
Courtesy of Olaplex
Olaplex reports Q1 sales declines across all channels
The hair care company’s overall sales fell 13.1%, with its DTC segment down almost 16%, while net income dropped 63% compared to last year.
By Howard Ruben • May 3, 2024 -
Courtesy of Poppi
Healthy soda brand Poppi denies being M&A target of large beverage companies
The drink, introduced in March 2020, is posting triple-digit growth as it benefits from surging consumer interest in better-for-you offerings.
By Christopher Doering • May 3, 2024 -
Caroline Jansen/Retail Dive
Wayfair net sales fall 1.6% in Q1
Despite challenges across the home goods category, executives remained optimistic that demand will return.
By Caroline Jansen • May 3, 2024 -
Column
The Weekly Closeout: Boscia plans to shutter website and L’Occitane takes steps to go private
The clean skin care brand said it will close its website on May 31, while the beauty brand’s chairperson, Reinold Geiger, launched a buyout bid.
By Retail Dive Staff • May 3, 2024 -
Kevin Dietsch / Staff via Getty Images
Peloton lays off 15% of global workforce as CEO Barry McCarthy exits
The staff reductions impact about 400 employees and come as the fitness company faces declining sales and members.
By Caroline Jansen • May 2, 2024 -
Courtesy of Amazon
Amazon services outpace retail growth in Q1
The e-commerce giant’s third-party services, advertising, subscriptions and cloud unit generated double-digit revenue increases in the period.
By Daphne Howland • May 1, 2024 -
Daphne Howland/Retail Dive
Royalty fees squeeze Vince margins
The company is targeting more than $30 million in savings in part to offset the new cost of licensing its own brand from Authentic Brands Group.
By Daphne Howland • April 30, 2024 -
Photo by Spencer Platt/Getty Images via Getty Images
Skechers logs record Q1 sales amid wholesale revival
The company expects revenue to increase by up to 11% for the fiscal year, which an analyst called “a pleasant surprise.”
By Laurel Deppen • April 29, 2024 -
Courtesy of Mented
West Lane Capital Partners acquires Mented Cosmetics
West Lane has been building out its portfolio of beauty brands, recently acquiring Seven hair care earlier this month.
By Howard Ruben • April 26, 2024 -
Courtesy of Joann
Joann to exit bankruptcy ‘in the coming days’ as reorganization plan gets court OK
The craft retailer expects to cut $505 million in debt and emerge from bankruptcy as a privately held company.
By Nate Delesline III • April 26, 2024 -
Courtesy of Mango
ColumnThe Weekly Closeout: Layoffs at Lululemon and Mango opens more stores
The athletics retailer had a round of layoffs as it shuttered a distribution center and Mango opened locations in Washington, D.C., and Boston.
By Retail Dive Staff • April 26, 2024 -
New stores, comps drive Tractor Supply’s Q1 sales to $3.4B
The company is pressing forward with plans to open 80 stores and its 10th distribution center this year.
By Nate Delesline III • April 25, 2024 -
Kendall Davis/Retail Dive
Podcast
The Backroom: With more closures ahead, what’s next for Macy’s?
Under a new CEO, the iconic department store is fielding a $6.6 billion takeover offer, shuttering another 150 stores and fighting to stay relevant.
By Retail Dive Staff • April 25, 2024 -
Courtesy of Hasbro
Hasbro focuses on ‘high-profit partnerships’ to drive recovery as sales fall 24%
Excluding the sale of its eOne division, revenue was still down 9% in Q1, but the toy manufacturer swung to a profit.
By Nate Delesline III • April 24, 2024 -
Courtesy of Abercrombie & Fitch
The turnaround of Abercrombie & Fitch is finally here
S&P Global Ratings on Tuesday upgraded the apparel retailer, not just on its better-than-expected 2023 performance but also its strong momentum.
By Daphne Howland • April 24, 2024 -
Dimensions via Getty Images
What Q1’s retail sales say about the consumer in 2024
In the first three months of the year, a strong job market and wage gains helped buoy consumer spending, but some analysts warn it may not last.
By Daphne Howland • April 24, 2024
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