Financial News: Page 21
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Courtesy of Foot Locker
Foot Locker to exit several international markets, move headquarters to Florida
Yet another cost-cutting and simplification effort will see the retailer exit South Korea, Denmark, Norway and Sweden by mid-2025, and switch its New York City base for one in St. Petersburg, Florida.
By Cara Salpini • Aug. 28, 2024 -
Daphne Howland/Retail Dive
Anniversary Sale, Rack propel Nordstrom’s Q2 sales
Strong regular-price sales also helped boost margins, but the retailer raised its guidance only slightly.
By Daphne Howland • Aug. 28, 2024 -
Caroline Jansen/Retail Dive
What lies ahead for Bonobos under new ownership
The DTC darling has changed hands several times over the past decade. Does that matter?
By Caroline Jansen • Aug. 28, 2024 -
Courtesy of Big Lots
Big Lots offers $5.2M in retention bonuses to 4 executives
The move could signal a potential bankruptcy on the horizon, according to Debtwire's global head of legal and restructuring.
By Nate Delesline III • Aug. 27, 2024 -
Joe Raedle / Staff via Getty Images
Consumers tap credit cards, loans to manage inflation: Fed report
Gen Z and millennials were the age groups most likely to use loans and credit cards in response to higher prices, a Federal Reserve research report said.
By Lynne Marek • Aug. 27, 2024 -
Daphne Howland/Retail Dive
Urban Outfitters sees return to ‘pre-COVID behavior’ as sales slow in recent weeks
The apparel conglomerate’s CEO said that, starting in July, already careful shoppers grew even more selective, which could be a new reality.
By Daphne Howland • Aug. 23, 2024 -
Ace Hardware sales up 3% as it leans into stores
The retailer debuted its Elevate Ace store concept in the quarter and is on track to open 200 stores by the end of the year.
By Nate Delesline III • Aug. 23, 2024 -
Courtesy of Hollister
ColumnThe Weekly Closeout: Amazon’s October sales event returns and Hollister goes back to school
The e-commerce giant is prepping for its unofficial holiday kickoff event, while the apparel brand launched a collection featuring over 30 U.S. universities.
By Retail Dive Staff • Aug. 23, 2024 -
Permission granted by Peloton
Peloton projects nearly 10% sales decline for the year
CFO Liz Coddington expects “softness” in connected fitness demand in the medium term, but remains optimistic about the category’s growth potential.
By Caroline Jansen • Aug. 22, 2024 -
Getty Images
Survey: 31% of back-to-school shoppers will take on debt
While that’s relatively flat to 2022, there are fewer shoppers this year opting for cheaper brands or using other money saving strategies, Bankrate found.
By Nate Delesline III • Aug. 22, 2024 -
Daphne Howland/Retail Dive
Same day services, price cuts drive Target growth in Q2
Results show that deal-hunting consumers are “still willing and able to spend,” said the retailer’s Chief Commercial Officer Rick Gomez.
By Nate Delesline III • Aug. 21, 2024 -
Courtesy of Unified Commerce Group
Steve Madden sells Greats to Unified Commerce Group
The upscale sneaker label will join apparel brands Frank And Oak and Spiritual Gangster on the growing retail platform.
By Lara Ewen • Aug. 21, 2024 -
Daphne Howland/Retail Dive
Macy’s Q2 sales disappoint as stores slated for closure post steep declines
The department store is preparing for its all-important holiday quarter with a value message that goes beyond discounts, executives said.
By Daphne Howland • Aug. 21, 2024 -
Daphne Howland/Retail Dive
Lowe’s lowers guidance amid Q2 sales, profit declines
The home improvement retailer was hit by bad weather and a soft housing market, but some analysts say it’s poised to take share.
By Daphne Howland • Aug. 20, 2024 -
Courtesy of Under Armour
Deep DiveKevin Plank can’t let go of Under Armour. Is that hampering a turnaround?
Three CEOs have come and gone in the four years since Plank stepped down. Now, the sportswear brand’s founder is back with another plan to revive the brand amid flagging sales and relevance.
By Cara Salpini • Aug. 19, 2024 -
Noam Galai via Getty Images
Fabrizio Freda prepares to step down as Estée Lauder CEO
Freda has been at the helm for 16 years and will exit in the midst of a turnaround that has entailed layoffs and other leadership change.
By Daphne Howland • Aug. 19, 2024 -
Courtesy of Dillard's
Dillard’s Q2 disappoints as net income plunges
The company said it’s working to better align expenses with sales, but UBS analysts warn that margin and profit declines will likely continue.
By Daphne Howland • Aug. 16, 2024 -
Angela Weiss via Getty Images
Deckers sells Sanuk to apparel brand
The footwear brand will become part of Lolë Brands as the athleticwear company eyes portfolio expansion.
By Laurel Deppen • Aug. 16, 2024 -
Kaarin Vembar/Retail Dive
Walmart e-commerce sales surge 21%, but profitability remains elusive
E-commerce losses narrowed in the quarter, as CEO Doug McMillon told analysts the retailer will “eventually make money in e-commerce.”
By Nate Delesline III • Aug. 15, 2024 -
Courtesy of Trove
Trove acquires competing resale platform Recurate
The combined company will oversee 44 partners and control up to 80% of branded resale traffic in the U.S. as a result of the deal.
By Lara Ewen • Aug. 15, 2024 -
Daphne Howland/Retail Dive
Victoria’s Secret brings on Savage x Fenty head Hillary Super as CEO
Martin Waters is out as the chief executive as of Tuesday, but will stay on in a nonexecutive capacity with the company through the end of August.
By Nate Delesline III • Aug. 14, 2024 -
Courtesy of The Home Depot
SRS Distribution deal helps Home Depot return to sales growth in Q2
Even as the retailer raised full-year guidance, it continues to feel the impact of a challenging housing market and broader economic uncertainty.
By Nate Delesline III • Aug. 13, 2024 -
Courtesy of On
Like Nike before it, On plans to grow margins via DTC sales
A nine-fold boost to profits in Q2 nevertheless missed some analysts’ expectations, as margins inched up only slightly.
By Daphne Howland • Aug. 13, 2024 -
Getty Images
Toy sales stabilize in first half of year
“The tide is turning for the industry,” according to a new report from Circana. But there are no guarantees for the second half of 2024.
By Kaarin Moore • Aug. 13, 2024 -
Permission granted by Grove Collaborative
In latest effort to trim costs, Grove Collaborative switches to Shopify
The sustainably-minded consumer products company reported expanded margins and narrowed losses in Q2, but sales and active customers declined.
By Daphne Howland • Aug. 13, 2024
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