Financial News: Page 20
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Drew Angerer via Getty Images
FTC sues to block Tapestry’s $8.5B acquisition of Capri Holdings
The commission says the deal would prevent competition and give Tapestry a dominant share of the “accessible luxury” handbag market.
By Lara Ewen • April 23, 2024 -
Permission granted by Express
Express files Chapter 11, plans to close over 100 stores
All of the company’s UpWest stores will shutter as the retailer pursues a sale to WHP Global, Simon Property Group and Brookfield Properties.
By Nate Delesline III • April 22, 2024 -
Courtesy of Peloton Interactive
ColumnThe Weekly Closeout: Peloton drops free membership as Asos revenue falls over 18%
The struggling home exercise brand quietly removed the free option, while the fast-fashion retailer saw sales plunge in the first half of the year.
By Retail Dive Staff • April 19, 2024 -
Daphne Howland/Retail Dive
Nordstrom family may try again to take the company private
The Nordstrom brothers, who are the retailer’s top executives, notified the board of their interest, and a special committee has been formed.
By Daphne Howland • April 19, 2024 -
Courtesy of Adidas
Adidas raises guidance for the year as Yeezy leftovers keep on giving
But the sneaker giant is building momentum beyond the now-discontinued sub-brand, and CEO Bjørn Gulden’s turnaround seems to be taking hold.
By Daphne Howland • April 17, 2024 -
Michaels gets S&P upgrade on improved performance and credit metrics
But topline trends in the arts and crafts retail sector are likely to stay soft in 2024 as inflation persists, analysts say.
By Nate Delesline III • April 15, 2024 -
Courtesy of Knot Standard
Billy Reid acquires Knot Standard’s DTC business
As part of the deal, the fashion retailer will take over the DTC brand’s stores and start using its AI-based made-to-measure software in all its locations.
By Cara Salpini • April 12, 2024 -
Courtesy of Conn's
Conn’s swings to a profit in Q4 as annual losses grow
Three months after acquiring a rival home goods retailer, Conn’s is focusing on consumer financing as a revenue driver.
By Nate Delesline III • April 12, 2024 -
Permission granted by Rent the Runway
Rent the Runway turns to resale, advertising in renewed growth push
The apparel rental service beat expectations in Q4 and struck a note of confidence, saying its restructuring earlier this year wasn’t just about cuts.
By Daphne Howland • April 11, 2024 -
Courtesy of The Honest Company
Jessica Alba to step down as chief creative officer of The Honest Company
The founder, who remains a board member, moves on as the brand’s leadership says recent turnaround efforts are working.
By Nate Delesline III • April 10, 2024 -
Daphne Howland/Retail Dive
Macy’s shakes up board, avoids proxy fight
The department store has also opened its books to the real estate-minded investors who have bid $6.6 billion to take it over.
By Daphne Howland • April 10, 2024 -
Caroline Jansen/Retail Dive
Allbirds receives delisting warning from Nasdaq
The footwear brand’s stock traded at less than $1 for 30 consecutive days and the company has until Sept. 30 to regain compliance.
By Cara Salpini • April 9, 2024 -
Courtesy of J.C. Penney
J.C. Penney shutters 50-year-old anchor, moves across the street
The new location is at the Willowbrook Mall in New Jersey, which is owned by the department store’s co-owner, Brookfield Properties.
By Daphne Howland • April 9, 2024 -
Roger Hornback via Getty Images
99 Cents Only files for Chapter 11
The bankruptcy filing comes just days after the discount retailer announced plans to liquidate and close all stores.
By Nate Delesline III • April 8, 2024 -
Permission granted by Petco
Petco faces downgrades amid sales, profit and share declines
Analysts from S&P Global Ratings and Bank of America said the pet retailer’s struggles are likely to continue this year and possibly into 2025.
By Daphne Howland • April 8, 2024 -
(2007). Retrieved from Wikimedia Commons.
99 Cents Only to liquidate
The company’s small footprint left it unable to compete with larger rivals in a tough macroeconomic environment, according to industry experts.
By Nate Delesline III • April 5, 2024 -
Courtesy of Puma
ColumnThe Weekly Closeout: Puma plots design space in LA, Bank of America downgrades Figs
The athletics brand said the studio will open in 2025, while spending pullbacks contributed to the scrubs brand’s recent negative rating.
By Retail Dive Staff • April 5, 2024 -
Courtesy of FullBeauty Brands
FullBeauty Brands acquires plus marketplace Dia & Co.
Within the past year the company also purchased Eloquii and Cuup, expanding its portfolio of plus and size-inclusive labels.
By Tatiana Walk-Morris • April 4, 2024 -
sabthai via Getty Images
Shoes for Crews files for Chapter 11 bankruptcy
The non-slip shoe company secured $30 million in debtor-in-possession financing and intends to sell the business.
By Nate Delesline III • April 4, 2024 -
Daphne Howland/Retail Dive
Levi’s gains momentum as Beyoncé name-checks the brand on her new album
Despite Q1 revenue declines and a net loss, the denim maker noted strength in the U.S., its largest market, and other reasons for optimism.
By Daphne Howland • April 4, 2024 -
Courtesy of Grown Alchemist
L’Occitane sells Grown Alchemist 2 years after acquiring the brand
André Hoffmann, L’Occitane Group’s former CEO and vice chairman, has bought a controlling majority stake in the skin care brand for 28 million euros.
By Caroline Jansen • April 3, 2024 -
Courtesy of Tupperware
Tupperware flags accounting strains in late 10-K notice
The notice comes roughly five months after the brand said its former independent auditor PricewaterhouseCoopers declined to be re-appointed.
By Maura Webber Sadovi • April 2, 2024 -
J.Sciulli/WireImage for Evolutionary Media Group via Getty Images
Boardriders to lay off more than 600 by the end of April
The cuts include C-suite execs and bring the total affected in California to nearly 700 since the company was acquired by Authentic Brands Group.
By Laurel Deppen • April 2, 2024 -
Guess announces $200M share repurchase program
The board also approved the restructuring of its debt — the third time the apparel retailer has taken such move in 12 months.
By Nate Delesline III • April 1, 2024 -
Courtesy of Lands' End
Lands’ End lays off 10% of corporate workforce
Most of those layoffs came in January, though some were the result of earlier changes to the retailer's sourcing organization.
By Nate Delesline III • March 29, 2024
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