Financial News: Page 2

  • Two models wearing black athletic clothing stretch while wearing colorful sneakers
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    Courtesy of On
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    Footwear brand On reports record sales growth in Q1

    The company is selling predominantly at full-price — even within a promotional environment in the category — and more than quadrupled net income. 

    By • May 17, 2023
  • Outside storefront image of The Home Depot
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    Courtesy of The Home Depot
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    Home Depot misses Q1 expectations, lowers guidance

    The retailer reported one of its largest quarterly comps declines in over a decade, but the company expects improvements in the coming quarters.

    By • May 16, 2023
  • An online shopper is sitting outside on the street and is ordering something on her mobile phone with a credit card in hand. Explore the Trendline➔
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    RgStudio via Getty Images
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    Trendline

    Retail Dive's DTC outlook for 2023

    A look at DTC trends and predictions for what direct-to-consumer brands can expect in the year ahead.

    By Retail Dive staff
  • Allbirds opens store in Flatiron district of New York City.
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    Courtesy of Allbirds
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    How DTC brands fared in Q1

    Some were able to stymie losses during the period, while others sank deeper into the red as revenues fell.

    By , • May 16, 2023
  • Picture of an At Home storefront.
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    Permission granted by At Home Group
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    At Home completes $200M private placement

    As other companies exit the sector, the retailer says the move will strengthen its financial position and lead to growth opportunities.

    By • May 15, 2023
  • Photo of a blue box with the name "Birchbox" on it, and several bottles of beauty products
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    Courtesy of Birchbox
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    Birchbox assets acquired by Retention Brands

    After months of growing vendor and customer complaints at Birchbox, parent company FemTec Health is winding down its business and selling off its assets.

    By • May 15, 2023
  • The Vitamin Shoppe storefront
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    Courtesy of The Vitamin Shoppe
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    Vitamin Shoppe parent going private in $2.6B deal

    CEO Brian Kahn is leading an investor group in a buyout deal following a lackluster first quarter.

    By • May 12, 2023
  • Nike headquarters
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    Courtesy of Nike
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    Column

    The Weekly Closeout: Shein aims to repurpose excess inventory and Nike adds board member

    The fast-fashion giant wants to use other retailers’ scraps for new clothing. Meanwhile, former Kimberly-Clark executive Maria Henry joined the athletic retailer’s board.

    By Retail Dive Staff • May 12, 2023
  • People walking outside a Sperry shoe store during the day.
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    Jason Squires via Getty Images
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    Wolverine is ‘exploring strategic alternatives’ for Sperry

    CEO Brendan Hoffman said the footwear company needs to focus on its core brands, including Merrell, Saucony and Sweaty Betty.

    By Lara Ewen • May 12, 2023
  • Kanye West at Milk Studios
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    Jonathan Leibson / Stringer via Getty Images
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    Adidas plans to sell some of its Yeezy inventory and donate the money

    CEO Bjørn Gulden said Thursday that burning the $1.3 billion worth of products was not the solution.

    By • May 11, 2023
  • TarraFlame's indoor s'mores roaster
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    Permission granted by Solo Brands
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    Solo Brands acquires TerraFlame

    The move helps build out the company’s portfolio of brands, which also includes Solo Stove, Chubbies, Oru Kayak and Isle.

    By • May 11, 2023
  • AllModern store interior
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    Courtesy of Wayfair
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    Wayfair aims to raise over half a billion dollars through convertible senior notes

    The home goods retailer expects to generate up to $677 million in net proceeds from the offering, which is set to close on Friday.

    By • May 10, 2023
  • Exterior of an Allbirds store in Washington, D.C.'s Georgetown neighborhood
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    Caroline Jansen/Retail Dive
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    Allbirds undergoes layoffs, co-CEO transitions to new role

    Co-founder Tim Brown has taken on the chief innovation officer role as the direct-to-consumer brand reported a drop in its Q1 net revenue.

    By • May 10, 2023
  • ThredUp apparel.
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    Courtesy of ThredUp
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    Higher-income shoppers help ThredUp narrow loss, grow sales in Q1

    The secondhand apparel site plans to reach a measure of profitability by Q4, but some analysts warn its growth plans could risk that.

    By • May 10, 2023
  • A white car is parked in front of a store, in a space toward the left.
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    Daphne Howland/Retail Dive
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    Warby Parker revenue up 12.2% in Q1 as it reins in marketing spend

    The direct-to-consumer eyewear company narrowed its net loss again and is focused on becoming a holistic eye care provider.

    By • May 9, 2023
  • Two ThredUp boxes sitting on top of each other on a bed, with a teal sweater next to them.
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    Courtesy of ThredUp
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    ThredUp lists on alternative stock exchange

    The resale company will commit to a vision for sustainable and inclusive business practices on the Long-Term Stock Exchange.

    By • May 9, 2023
  • Shoppers walking by an Under Armour store.
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    Cara Salpini/Retail Dive
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    Under Armour CEO: ‘Growth is, without a question, our highest priority’

    New chief Stephanie Linnartz identified a slew of areas that need work and rolled out a strategy that hinges on athleisure.

    By • May 9, 2023
  • Cars are parked in front of a store with "Mattress Firm" in red capital letters, against a bright blue sky.
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    Daphne Howland/Retail Dive
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    Tempur Sealy snaps up Mattress Firm for $4B

    Mattress Firm, which has been buffeted by the disruption in the segment and recently canceled its IPO, still runs more than 2,300 stores.

    By • May 9, 2023
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    Courtesy of Solo Brands
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    Solo Brands posts 7.3% sales uptick in Q1 driven by wholesale strength

    CEO John Merris emphasized the importance of its retail partnerships, which include Ace Hardware, REI and Dick’s Sporting Goods.

    By Howard Ruben • May 8, 2023
  • EBay corporate building in Berlin
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    Courtesy of EBay
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    EBay Ventures invests in sporting goods marketplace SidelineSwap

    SidelineSwap also received an investment by DSG Ventures — the corporate venture arm of Dick’s Sporting Goods — last fall.

    By Tatiana Walk-Morris • May 8, 2023
  • FIGS
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    Courtesy of FIGS
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    Figs Q1 revenue jumps while net income drops

    The direct-to-consumer scrubs brand reported that active customers increased to 2.4 million while average order values lowered.

    By • May 8, 2023
  • Adidas store in Shanghai
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    Courtesy of Adidas
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    Adidas first quarter revenues drop 1%, beating expectations

    The Yeezy loss continues to impact business, but new collaborations such as Fear of God could offset losses in the second half of 2023.

    By Lara Ewen • May 5, 2023
  • Two people running on a trail
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    Courtesy of Brooks Running
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    Brooks Running posts 20% revenue increase in Q1

    The brand reported strength from its e-commerce channel as it captured more share in the running category.

    By Howard Ruben • May 5, 2023
  • Birchbox SoHo
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    Courtesy of Birchbox
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    Birchbox founder demands $2M from FemTec Health

    Birchbox co-founder Katia Beauchamp alleges FemTec Health, which acquired the box subscription service in 2021, operated in bad faith.

    By • May 4, 2023
  • Person riding a Peloton bike
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    Courtesy of Peloton
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    Peloton to relaunch brand

    While the company reported a total revenue decline in Q4 and missed on gross margin, it will rebrand later this month to better communicate its value.

    By • May 4, 2023
  • Exterior of Wayfair's headquarters in Boston
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    Caroline Jansen/Retail Dive
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    Wayfair execs remain optimistic even as losses continue to mount

    While the online retailer faces sales and customer declines, it believes it will be EBITDA positive as early as this quarter.

    By • May 4, 2023