Financial News: Page 2

  • Amazon's office at Lord & Taylor's former building in New York City
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    Courtesy of Amazon
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    Column

    The Weekly Closeout: Amazon moves into former Lord & Taylor building, Belk celebrates 135 years

    The e-commerce giant took over the New York City space previously occupied by the department store, while Belk plans a party in honor of its first location.

    By Retail Dive Staff • Sept. 15, 2023
  • The outside of the Macy's store in Herald Square in NYC during the holidays.
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    Kaarin Vembar/Retail Dive
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    Holiday sales predicted to rise by 3.5%: Deloitte

    That’s slower than last year, as the research firm expects inflation’s impact to moderate and shoppers to have fewer pandemic-era savings.

    By Tatiana Walk-Morris • Sept. 14, 2023
  • Explore the Trendline➔
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    Getty Images
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    Trendline

    The direct-to-consumer landscape in retail

    More mature brands are pursuing exit strategies and expanding their reach, while retailers are increasingly shifting to a DTC model.

    By Retail Dive staff
  • Exterior shot of a Birkenstock store.
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    Courtesy of Birkenstock
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    Birkenstock files for IPO as it eyes global growth

    Private equity firm L Catterton will control a majority of voting power on outstanding shares.

    By • Sept. 13, 2023
  • A yellow and black "Dollar General" sign framed by leaves.
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    Justin Sullivan via Getty Images
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    Dollar General braces for $95M profit hit as it clears inventory

    While it works to reduce stock levels, the discounter is also investing in new planning tools to help manage flows at stores and distribution centers.

    By • Sept. 12, 2023
  • External shot of a Restoration Hardware storefront.
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    The image by wpktsfs is licensed under CC BY-SA 3.0
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    RH predicts market challenges will persist as sales fall 19%

    Net income tumbled 37% in Q2 as the retailer faces industrywide challenges, including the highest mortgage rates in 20 years.

    By • Sept. 11, 2023
  • A mall entrance to a clothing store named "Torrid."
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    Daphne Howland/Retail Dive
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    Torrid lays off 5% of headquarters staff as sales decline

    The workforce reduction, which took place at the beginning of Q3, came as the retailer reported second-quarter net income fell over 70%.

    By • Sept. 7, 2023
  • Various products with "Honest Company" labels are displayed at a store.
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    Marco Garcia via Getty Images
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    Nordstrom vet tapped for Honest CFO seat

    The finance leadership change comes as the consumer products company struggles with growth and profitability.

    By Alexei Alexis • Sept. 7, 2023
  • With tree branches and brick buildings to the left, a sign reading "UpWest" juts out from a building.
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    Daphne Howland/Retail Dive
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    Express Inc. leans on cost cuts as sales, profits plummet

    The apparel conglomerate is facing consumer demand for promotional pricing and has had to correct some fashion misses at its namesake.

    By • Sept. 6, 2023
  • Draper James RSVP launches at Kohl's.
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    Courtesy of Kohl's
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    Reese Witherspoon sells majority stake in Draper James

    Private equity firm Consortium Brand Partners now holds a 70% stake, while the actor and brand founder remains a partner and board member.

    By • Sept. 6, 2023
  • An Academy Sports and Outdoors storefront
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    Courtesy of Academy Sports and Outdoors
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    Column

    The Weekly Closeout: Academy Sports and Outdoors expands assortment, and has pumpkin spice gone too far?

    Fall-scented flushable wipes are here. Meanwhile, Academy Sports and Outdoors struck two deals this week, with Fanatics and L.L. Bean.

    By Retail Dive Staff • Sept. 1, 2023
  • Lululemon storefront.
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    Kaarin Vembar/Retail Dive
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    Lululemon increases store opening plans as sales climb 18%

    While many in the industry have warned of challenges, the athletics retailer continued to outperform, recording double-digit profit growth.

    By • Sept. 1, 2023
  • Chewy, fulfillment center, truck loading
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    Permission granted by Chewy
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    Chewy sales up 14% in Q2, beating expectations

    However, executives noted consumer shifts that signal shoppers may be seeking out more value in light of economic uncertainty.

    By • Aug. 31, 2023
  • A Dollar General sign and brick storefront on a cloudy day with the company's signature black on yellow logo
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    Permission granted by Dollar General
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    Dollar General set to open nearly 1K new stores despite profit, margin declines

    The discounter is grappling with bloated inventories, which analysts say are contributing to shrink and impeding store operations.

    By • Aug. 31, 2023
  • Mannequins in lingerie are part of the sales floor displays at Victoria's Secret in New York City
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    Permission granted by Victoria's Secret & Co.
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    Victoria’s Secret posts Q2 sales decline amid turnaround efforts

    While the retailer reported progress on its strategic initiatives, analysts question whether its actions are working.

    By • Aug. 31, 2023
  • A cream-colored J.C. Penney storefront with signage in red letters.
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    Courtesy of J.C. Penney
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    J.C. Penney announces $1B turnaround plan

    The struggling department store will upgrade its tech, stores and customer experience, but is unlikely to follow rival Macy’s in leaving the mall.

    By • Aug. 31, 2023
  • A quotation mark on a blue background.
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    Kendall Davis/Retail Dive
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    Podcast

    The Backroom: A look back on the first half of 2023 for DTC brands

    The team talks about the latest financial results from various players as the holidays quickly approach.

    By Retail Dive Staff • Aug. 31, 2023
  • Two black and pink fabric bags with floral patterns against a pink backdrop
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    Courtesy of Vera Bradley
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    Vera Bradley Q2 sales decline, full-year outlook narrows

    The company — which operates its namesake brand and Pura Vida — lowered the top end of its fiscal 2024 revenue expectations.

    By • Aug. 30, 2023
  • People walking down the street, past an apparel store.
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    Andrew Burton / Staff via Getty Images
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    Ann Taylor, Loft, Talbots form new KnitWell Group

    Sycamore Partners acquired Talbots over a decade ago and the other KnitWell brands during Ascena’s 2020 bankruptcy.

    By • Aug. 30, 2023
  • Big Lots, Manchester, CT. 8/2014 by Mike Mozart of TheToyChannel and JeepersMedia on YouTube
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    "Big Lots" by Mike Mozart is licensed under CC BY 2.0
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    Big Lots completes store leasebacks, takes ‘decisive actions’ to lower costs

    The retailer said its core lower-income customer remains under pressure, but expects improvements in the back half of the year.

    By • Aug. 29, 2023
  • A bright yellow sign against a blue roof says "Best Buy" in bold black letters.
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    Daphne Howland/Retail Dive
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    Best Buy Q2 sales, profits decline as consumers avoid buying electronics

    But the company noted some momentum in the quarter and predicts the category is set to rebound.

    By • Aug. 29, 2023
  • A collage of six photos featuring E.l.f. Beauty's company porfolio of brands
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    Courtesy of E.l.f. Beauty
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    E.l.f. Beauty to acquire Naturium for $355M

    The skin care brand was launched in 2019 by accelerator The Center and is expected to double E.l.f. Beauty’s presence in the category.

    By • Aug. 29, 2023
  • A Rite Aid pharmacy storefront
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    Permission granted by Rite Aid
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    Rite Aid reportedly preparing Chapter 11 bankruptcy filing

    A filing could help the retailer restructure $3.3 billion in debt and address a slew of lawsuits alleging it unlawfully filled opioid prescriptions.

    By • Aug. 28, 2023
  • External shot of The Body Shop storefront.
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    Daphne Howland/Retail Dive
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    Natura & Co considers selling The Body Shop

    The Brazilian cosmetics conglomerate acquired the beauty brand in 2017 and is now exploring strategic alternatives amid declining performance. 

    By • Aug. 28, 2023
  • Gap store in San Francisco, Flood Building.
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    Daphne Howland/Retail Dive
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    New Gap Inc. CEO: ‘We need to make these brands matter more’

    Further declines in Q2 greeted former Mattel executive Richard Dickson as he took the helm at the apparel conglomerate.

    By • Aug. 28, 2023
  • Instacart
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    Courtesy of Instacart
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    Instacart files plans to go public

    The grocery technology company, which intends to list its shares on the Nasdaq under the ticker symbol “CART,” said it has not yet determined how much money it will seek to raise through the IPO.

    By Sam Silverstein , Catherine Douglas Moran • Aug. 28, 2023