Financial News: Page 20
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Courtesy of HanesBrands
HanesBrands sells Champion to Authentic Brands Group
The proceeds of the $1.2 billion sale will be used to pay down debt.
By Laurel Deppen • June 10, 2024 -
Shutterstock/bbernard
Sponsored by TeleperformanceThe role of strategic partnership management and rebadging in transformation and enhanced CX
The retail industry saw a drop in new global in-house centers last year. See why strategic business process services partnerships may be more appealing, and how to use them to unlock long-term value.
By Mike Lytle, North America CEO, Teleperformance • June 10, 2024 -
Daphne Howland/Retail Dive
GameStop Q1 sales drop 29% as it issues new stock offering
The video game-focused retailer plans to capitalize again on meme stock interest by selling 75 million more shares.
By Nate Delesline III • June 7, 2024 -
Courtesy of Claire's, Hello Kitty
ColumnThe Weekly Closeout: Kirkland’s explores strategic alternatives as Claire’s celebrates Hello Kitty
The home retailer is also instituting a cost-savings plan as sales fell 5% in Q1. Meanwhile, the tween brand is honoring the iconic character’s 50th anniversary.
By Retail Dive Staff • June 7, 2024 -
Courtesy of Big Lots
Big Lots may be making more turnaround progress than it seems
Despite double digit sales declines and rising debt levels, one analyst says the bad consumer backdrop is masking its improvements.
By Nate Delesline III • June 6, 2024 -
Kaarin Vembar/Retail Dive
Lululemon CEO says it missed opportunities in the women’s business in Q1
A narrow color palette and insufficient inventory in smaller sizes contributed to slower growth in the U.S., though overall revenue was still up 10%.
By Cara Salpini • June 6, 2024 -
Courtesy of Victoria's Secret & Co.
Victoria’s Secret beat expectations in Q1, but is it enough?
Its namesake and Pink brands have held onto some 20% market share in intimates, though its beauty business is its best-performing category.
By Daphne Howland • June 6, 2024 -
Designer Brands acquires Canadian footwear retailer Rubino
The retailer also named a new chief marketing officer for its largest banner, DSW, as it reported flat sales for Q1.
By Nate Delesline III • June 5, 2024 -
Brett Dworski/Retail Dive
6 Foxtrot stores leased to Further Point Enterprises
The holding company that acquired the non-real-estate assets from 15 Foxtrot locations last month is now the official tenant for half a dozen of its locations.
By Brett Dworski • June 5, 2024 -
Courtesy of Stitch Fix
Amid ongoing declines, Stitch Fix pilots customer experience improvements for summer launch
A core group of customers is keeping and spending more per box, suggesting that the company is on the right track, analysts said.
By Daphne Howland • June 5, 2024 -
Kaarin Vembar/Retail Dive
Dollar Tree to explore spinoff or sale of Family Dollar
The underperforming banner has been a drag on operations since its acquisition.
By Nate Delesline III • June 5, 2024 -
Permission granted by Liquid Death
Liquid Death names former PepsiCo, Keurig Dr Pepper exec as CFO
The fast-growing startup, known for its canned water, has entered new beverage categories while adding experienced executives to its C-suite.
By Christopher Doering • June 5, 2024 -
Courtesy of Bath & Body Works
New products boost Bath & Body Works in Q1 as candle sales decline
With steeper competition, the retailer is losing market share, including in one of its signature product lines, according to GlobalData research.
By Daphne Howland • June 4, 2024 -
Cara Salpini/Retail Dive
After abruptly shuttering its stores, Outdoor Voices has a new owner
Consortium Brand Partners, which also owns Draper James, plans to open new stores next year and expand into adjacent product categories.
By Cara Salpini • June 4, 2024 -
Joe Raedle via Getty Images
Costco’s CFO calls $1.50 hot dog ‘safe’ in debut earnings call
The retailer’s new finance chief, Gary Millerchip, is staying the course on the company’s popular $1.50 hot dog and soda combo pricing.
By Maura Webber Sadovi • June 4, 2024 -
Children’s Place CEO Jane Elfers out after 14 years
Muhammad Umair, who joined as a board member in February when Mithaq Capital bought a majority stake in the company, will serve as interim chief.
By Nate Delesline III • June 3, 2024 -
Courtesy of Gap Inc.
Gap Inc. turns a corner as all brands notch gains in Q1
Under CEO Richard Dickson, who arrived last August, the apparel retailer is working to improve operational efficiencies as well as brand storytelling.
By Daphne Howland • May 31, 2024 -
Courtesy of Sierra
ColumnThe Weekly Closeout: Best Buy sales fall 6.5% and Sierra hits 100 stores
The electronics retailer continues to face pressure in its core segment, while T.J. Maxx’s outdoors-focused sibling eyes more growth ahead.
By Retail Dive Staff • May 31, 2024 -
Cara Salpini/Retail Dive
Ulta cuts guidance as it loses share in prestige beauty
The beauty retailer said 1,000 new points of distribution in the category have opened in the past two years, a possible nod to Kohl’s Sephora tie-up.
By Cara Salpini • May 31, 2024 -
Daphne Howland/Retail Dive
Nordstrom Rack continues to overshadow the department store in Q1
Both banners enjoyed sales increases, though margins were challenged by shrink caused by theft in its transportation network.
By Daphne Howland • May 31, 2024 -
Permission granted by Dollar General
Dollar General to eliminate ‘vast majority’ of self-checkout, reduce new store openings
Despite a 6% Q1 net sales rise and performance that beat analyst expectations, shrink remains a significant headwind, CEO says.
By Nate Delesline III • May 31, 2024 -
Justin Sullivan/Getty Images via Getty Images
Birkenstock logs record Q2 revenue increase of 22%
In its second earnings report since becoming a publicly traded company, the Germany-based footwear giant raised its outlook after gains in the quarter.
By Laurel Deppen • May 31, 2024 -
Courtesy of Foot Locker, Inc.
Foot Locker: ‘I think it’s fair to say Nike’s going back on offense’
The retailer, which saw sales fall nearly 3% in Q1, teased a return to growth with Nike later this year and expressed excitement about upcoming innovation.
By Cara Salpini • May 30, 2024 -
Daphne Howland/Retail Dive
Kohl’s touts progress in Q1 despite sales declines, loss
Aside from some merchandising improvements, the department store isn’t revamping its stores. Some analysts say that’s a mistake.
By Daphne Howland • May 30, 2024 -
Permission granted by Chewy
Chewy posts 3.1% sales gain in Q1, announces $500M share repurchase program
The online pet retailer boosted its profits during the quarter even as its active customer base continues to shrink.
By Caroline Jansen • May 29, 2024
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