Financial News: Page 2


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    Permission granted by Rent the Runway

    Rent the Runway revenue doubles in Q1 as women dress up again

    The apparel rental service, which benefits from the red-hot secondhand market, is expanding its more convenient, less costly at-home pickup services.

    By June 13, 2022
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    "Revlon" by Mike Mozart is licensed under CC BY 2.0

    Revlon reportedly preparing for bankruptcy

    The beauty giant has long suffered under billions of dollars in debt, while the pandemic exacerbated its financial struggles.

    By June 13, 2022
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    Igor Alecsander via Getty Images
    Trendline

    Retail Dive's Outlook on 2022

    From continued supply chain challenges to the rise of social commerce, here's what Retail Dive is watching for in the year ahead.

    By Retail Dive staff
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    Courtesy of Recover; Goldman Sachs

    Recycled cotton company Recover raises $100M in funding led by Goldman Sachs

    The latest round of funding speaks to the need for innovation in an industry that creates tons of waste annually.

    By June 13, 2022
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    Photo Illustration: Riccardo Savi/Getty Images; Industry Dive

    Deep Dive // Sustainability in retail

    Can investors make retail sustainable?

    Lenders and shareholders are tying ESG concerns to the capital they invest. Meanwhile, corporate finance teams in retail lag in leading on sustainability.

    By June 13, 2022
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    Daphne Howland/Retail Dive
    Column

    The Weekly Closeout: Target works to rightsize inventory and two CEOs prepare to exit

    The big-box retailer shocked analysts by cutting its forecasts on operating margin, and the industry saw two major C-suite departures.

    By Retail Dive Staff • June 10, 2022
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    Brandon Bell via Getty Images

    Dick's, Levi's and other retail CEOs urge Senate to take action on guns

    In the wake of recent mass shootings, more than 200 executives have signed a letter imploring legislators to “take bold urgent action” on gun violence.

    By June 10, 2022
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    Courtesy of Stitch Fix

    Stitch Fix misses out on the apparel boom, as losses widen in Q3

    The e-retailer is still scrambling to integrate its e-commerce with its legacy box business, but some analysts see problems with its model.

    By June 10, 2022
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    Courtesy of Stitch Fix

    Stitch Fix lays off 15% of its salaried workforce

    The reduction reflects about 4% of all company roles, mostly non-technology and styling leadership, CEO Elizabeth Spaulding said in a company blog post.

    By June 9, 2022
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    Courtesy of Business Wire

    Credit analysts put Kohl's on notice amid takeover talks

    Analysts at S&P Global Ratings and Pulse Ratings are concerned about the reliance on the retailer’s real estate to finance most of the deal.

    By June 9, 2022
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    Daphne Howland/Retail Dive

    Chico's was ready for its customers in Q1 as sales surged 40%

    The conglomerate’s turnaround is paying off, but the second half of the year could be tougher as consumers battle inflation.

    By June 8, 2022
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    Courtesy of Target

    Target moves to reduce inventory, taking markdowns and canceling orders

    Just weeks after lowering its guidance, the retailer now expects an even deeper hit to profit margins as consumers pull back on discretionary spending.

    By June 7, 2022
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    "Kohl's" by Mike Mozart is licensed under CC BY 2.0

    With little choice, Kohl's in final talks for Vitamin Shoppe owner to take over for $9B

    Franchise Group plans to leverage Kohl's real estate to finance most of the deal, a debt load that could hamper its turnaround, analysts say.

    By June 7, 2022
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    Permission granted by Grove Collaborative

    Grove Collaborative slashes long-term growth expectations as revenue drops

    Inflation and changing consumer behaviors are taking a toll on the company.

    By June 7, 2022
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    Courtesy of Amazon

    Amazon's consumer chief to leave after 23 years

    Dave Clark has led teams that "built out Amazon's transportation network from scratch," CEO Andy Jassy said. Clark will become CEO of Flexport.

    By Updated June 8, 2022
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    Courtesy of Skkn by Kim
    Column

    The Weekly Closeout: Kim Kardashian launches new skincare line and GameStop's losses spike

    The celebrity shut down her previous KKW Beauty brand last year, and the gaming retailer's operating loss tripled to $153.7 million.

    By Retail Dive Staff • June 3, 2022
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    Cara Salpini/Retail Dive

    Lululemon plans retro, hiking products

    The athletics retailer also launched the second product in its footwear offering after the popularity of its running shoe drove out of stocks.

    By June 3, 2022
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    Permission granted by Pinterest

    Pinterest to acquire AI shopping platform The Yes

    The Yes, which was founded by former Stitch Fix COO Julie Bornstein, furthers Pinterest's goal of being a personalized shopping destination.

    By June 3, 2022
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    Permission granted by Symbotic

    Walmart plots 4 new 'next generation' fulfillment centers

    The facilities incorporate an automated storage and retrieval system while also employing 4,000 new workers, and could serve 75% of the U.S.

    By June 3, 2022
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    Daphne Howland/Retail Dive

    Levi's aims for $10B in revenue in 5 years

    The company has set ambitious goals based on diversifying its portfolio and boosting DTC sales, while relying on the longevity of its flagship denim.

    By June 2, 2022
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    Permission granted by Chewy

    Chewy sales up nearly 14% in Q1

    The online pet retailer expects sales growth to continue into the second quarter even as concerns over inflation intensify.

    By June 2, 2022
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    Courtesy of Enjoy Technology

    Another Enjoy Technology CFO out as it faces cash crisis

    The commerce-at-home company — led by former J.C. Penney CEO Ron Johnson — can't keep up with its spiraling costs.

    By June 2, 2022
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    Courtesy of Trunk Club A Nordstrom Company

    What Trunk Club's demise says about apparel subscriptions

    Customers who engage with Nordstrom's stylists, online or in stores, spend more time and money at the retailer. So it's going outside the box.

    By June 2, 2022
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    Courtesy of Amazon

    Amazon says it is 'inappropriately' targeted by big tech legislation

    The company says its customers would be hurt by bills in the House and Senate, which target conflicts of interest at major tech platforms. 

    By June 1, 2022
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    "Potomac Mills Build-A-Bear Workshop" by Aolden23 is licensed under CC BY-SA 3.0

    Build-A-Bear reports record $117.7M in revenue

    The toy company saw growth in Q1 as its European stores reopened, despite industrywide pressure from fuel costs and inflation.

    By June 1, 2022
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    Courtesy of Dia & Co.

    Dia & Co. snaps up luxury plus-size retailer 11 Honoré

    The acquisition moves the inclusive apparel company into the luxury space.

    By June 1, 2022