Financial News: Page 2
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Courtesy of PayPal
PayPal to raise prices for merchants
The digital payments pioneer plans to increase fees U.S. merchants pay for some of its services, including buy now, pay later options, starting next month.
By Lynne Marek • Dec. 16, 2024 -
Daphne Howland/Retail Dive
Deep DiveNordstrom and Macy’s abandoned the ‘retail inventory method’ after using it for decades. Here’s why.
The accounting practice, embraced by department stores in the 1920s, is outdated, skews key metrics and fosters bad decisions, analysts say.
By Daphne Howland • Dec. 16, 2024 -
RH to open 9 new design galleries next year in North America, Europe
The luxury home furnishings retailer also said possible tariff spikes are unlikely to affect margins as it works to eliminate sourcing from China.
By Nate Delesline III • Dec. 13, 2024 -
Cara Salpini/Retail Dive
Under Armour holds first investor day in 6 years
Capping off a difficult year, CEO Kevin Plank outlined the brand’s strategy to get back to growth through marketing reinvestment and product innovation.
By Cara Salpini • Dec. 13, 2024 -
Courtesy of Amazon
ColumnThe Weekly Closeout: Adidas headquarters searched, Amazon starts selling cars
The activewear brand is under investigation for tax and customs compliance, while the e-commerce giant is offering Hyundai cars through Amazon Autos.
By Retail Dive Staff • Dec. 13, 2024 -
Cara Salpini/Retail Dive
J. Jill CEO will retire next year
After taking the post in early 2021 amid the retailer’s financial distress, Claire Spofford introduced an operational control that analysts find encouraging.
By Daphne Howland • Dec. 12, 2024 -
Daphne Howland/Retail Dive
GameStop eyes more store closures amid 20% sales drop
The gaming retailer swung to a profit in Q3 even as it announced an exit from Germany and warned of higher store closures than previous years.
By Nate Delesline III • Dec. 11, 2024 -
Daphne Howland/Retail Dive
Macy’s speeds up store closures to amp up turnaround
The retailer also said that for nearly three years an employee hid about $151 million in delivery expenses but that the fraud didn’t affect sales.
By Daphne Howland • Dec. 11, 2024 -
Courtesy of The Container Store
NYSE moves to delist The Container Store
The home retailer has made several moves this year to strengthen its financial position as consumer reticence around discretionary spending persists.
By Nate Delesline III • Dec. 10, 2024 -
Permission granted by Petco
Petco narrows net loss to $16.7M in Q3 as turnaround efforts gain momentum
The company has made several executive appointments this year as it works to implement various merchandising changes.
By Nate Delesline III • Dec. 10, 2024 -
Daphne Howland/Retail Dive
Under new ownership, Lord & Taylor revives old logo and comeback dreams
The chief strategy officer at Regal Brands Global, which now runs the venerable department store, talks to Retail Dive about what comes next.
By Daphne Howland • Dec. 10, 2024 -
Kaarin Vembar/Retail Dive
After 2 quarters of cuts, Ulta raises guidance
The beauty retailer, which notched a 1.7% sales gain, also announced that Chief Merchandising Officer Monica Arnaudo will retire in spring 2025.
By Cara Salpini • Dec. 9, 2024 -
Daphne Howland/Retail Dive
Victoria’s Secret & Co. turns its focus to Gen Z
The company will be working to differentiate its two brands, which merged in 2022, and give more space and attention to Pink.
By Daphne Howland • Dec. 6, 2024 -
Daphne Howland/Retail Dive
Lululemon returns to stronger growth with 9% revenue jump
As the brand looks to drive growth in North America, revenue in that region increased 2%, but comps still declined.
By Cara Salpini • Dec. 6, 2024 -
Courtesy of ThredUp
ColumnThe Weekly Closeout: ThredUp sells Remix for $1 and who really won Black Friday?
The resale business sold most of the European company to Florin Filote for one euro, while early reports suggest On and Amazon scored sales during the holiday.
By Retail Dive Staff • Dec. 6, 2024 -
Courtesy of Five Below
Five Below taps Forever 21 exec as CEO
Retail vet Winnie Park will take the top spot. Meanwhile, the teen retailer increased its guidance.
By Kaarin Moore • Dec. 5, 2024 -
Sam Silverstein/Retail Dive
Shrink down at Dollar General after backing away from self-checkout
Hurricanes took a toll in the third quarter and into the fourth, leading the discounter to lower its guidance slightly for the year.
By Daphne Howland • Dec. 5, 2024 -
Kaarin Moore/Retail Dive
Black Friday weekend shopping traffic exceeds NRF predictions
More consumers made purchases during the period than anticipated, and both stores and mobile shopping saw gains year over year.
By Tatiana Walk-Morris • Dec. 5, 2024 -
Permission granted by Chewy
Chewy raises full-year guidance as it beats Q3 expectations
The online pet retailer saw net sales increase nearly 5% driven by strength in its Autoship subscription service and nondescretionary categories.
By Caroline Jansen • Dec. 5, 2024 -
Sam Silverstein/Retail Dive
Walmart CEO predicts grocery inflation will continue in early 2025
The retailer also aims to grow sign-ups for Walmart+ after initially downplaying the membership program, Doug McMillon said at a Morgan Stanley event.
By Catherine Douglas Moran • Dec. 5, 2024 -
Courtesy of Foot Locker
Facing Nike ‘softness,’ Foot Locker sales fall 1.4%
CEO Mary Dillon said the retailer has made progress on its strategy, but was hurt by a more cautious consumer.
By Cara Salpini • Dec. 4, 2024 -
Retrieved from Gymboree on Dec. 4, 2024.
Gymboree marks brick-and-mortar return with New Jersey store
Parent company The Children’s Place is refocusing on its store portfolio, even as profit was cut nearly in half in Q3.
By Tatiana Walk-Morris • Dec. 4, 2024 -
Kaarin Moore/Retail Dive
Lender group completes acquisition of Tupperware’s assets
Party Products LLC — made up of Stonehill Capital Management and Alden Global Capital — has acquired the company’s brand name and other assets.
By Howard Ruben • Dec. 4, 2024 -
Off-price retailers aren’t too worried about tariffs
Among the many advantages that stores like TJX, Ross and Burlington have over mainstream retail companies: some protection from protectionism.
By Daphne Howland • Dec. 4, 2024 -
Nate Delesline III/Retail Dive
Dollar Tree CFO to step down next year
While financial performance improved during Q3, the retailer now faces the additional challenge of searching for a new CEO and CFO.
By Nate Delesline III • Dec. 4, 2024
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