Financial News: Page 22
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Daphne Howland/Retail Dive
After record Q4, Dick’s plans greatest square footage expansion since 2017
The sporting goods retailer is opening eight House of Sport stores in 2024, as well as 16 next-generation locations as it increases store investments.
By Cara Salpini • March 14, 2024 -
Joe Raedle via Getty Images
Peloton CFO leans on cost cutting to reverse post-pandemic slump
Finance chief Liz Coddington is slashing overhead costs and driving more revenue from Peloton’s digital subscription and bike rental businesses.
By Suman Bhattacharyya • March 14, 2024 -
Courtesy of On
On plans 100 more stores in the coming years
The Swiss athletics brand continues to build out its global footprint, opening stores in China, Germany and Latin America as it leans into its DTC channels.
By Suzette Parmley • March 13, 2024 -
Permission granted by Purple
Purple posts sales increase for the first time in 8 quarters
While it has taken a while, the company is “extremely encouraged” by the response to recent product launches intended to broaden its customer base.
By Caroline Jansen • March 13, 2024 -
Dollar Tree, Family Dollar to close 1,000 stores
The company said continued inflation is pressuring Family Dollar's core customer base.
By Nate Delesline III • March 13, 2024 -
Daphne Howland/Retail Dive
Petco in search of a new CEO as Q4 disappoints
Former Best Buy executive Mike Mohan is taking over in the interim as the pet retailer struggles with profitability.
By Daphne Howland • March 13, 2024 -
Caroline Jansen/Retail Dive
Allbirds taps new CEO, plans store closures
COO Joe Vernachio takes over from co-founder Joey Zwillinger on Friday as the DTC brand reported a 15% sales drop in 2023.
By Cara Salpini • March 13, 2024 -
Courtesy of Kohl's
Kohl’s brings in Babies R Us after rough holiday quarter
The struggling department store is increasingly relying on other brands, including Amazon and Sephora, to draw customers to its stores.
By Daphne Howland • March 12, 2024 -
Daphne Howland/Retail Dive
The Body Shop’s US operation forced into liquidation as UK parent takes its cash
The U.S. subsidiary ceased operating as of March 1 and told a bankruptcy court it didn’t get advance notice of its British owner's restructuring.
By Daphne Howland • March 12, 2024 -
Retrieved from Liquid Death.
Liquid Death closes funding round valuing business at $1.4B
The beverage maker said the $67 million in new financing will be used to grow distribution and accelerate product innovation.
By Christopher Doering • March 11, 2024 -
As it plans 90 stores, Ross refocuses DD’s on existing markets
The smaller banner will shift focus and undergo an “in-depth analysis” of its customer base amid disappointing performance in newer markets.
By Nate Delesline III • March 11, 2024 -
Roy Rochlin via Getty Images
Funko chief financial and operating officer to step down as toymaker preps for ‘softer’ content schedule
Steve Nave’s resignation comes as the company continues to brace for economic headwinds.
By Grace Noto • March 11, 2024 -
Cara Salpini/Retail Dive
American Eagle has ‘refocused’ logistics arm amid third-party business woes
The retailer faced $98.3 million in impairment and restructuring charges from Quiet Platforms in Q4 as it adjusted to reduced e-commerce fulfillment demand.
By Max Garland • March 8, 2024 -
Spencer Platt via Getty Images
New York Stock Exchange moves to delist apparel retailer Express
Concerns about the company’s long-term financial health have continued to surface over the last year.
By Nate Delesline III • March 8, 2024 -
Courtesy of BowFlex
ColumnThe Weekly Closeout: BowFlex files for Chapter 11, Public Lands partners with Saucony
The at-home fitness company has a $37.5 million buyout offer, and the Dick’s Sporting Goods banner teamed up with the footwear brand on running shoes.
By Retail Dive Staff • March 8, 2024 -
Courtesy of Gap Inc.
Gap, Old Navy make progress on long road to recovery
New Gap Inc. CEO Richard Dickson touted market share gains at the company’s biggest brands, but analysts say they have further to go.
By Daphne Howland • March 8, 2024 -
Big Lots’ cost-cutting efforts helped it ‘maintain liquidity through a challenging period’
CEO Bruce Thorn also said the retailer is expanding its assortment of bargain merchandise, which is expected to account for 75% of sales in 2024.
By Nate Delesline III • March 7, 2024 -
Courtesy of Ashley Furniture Industries
Ashley Home acquires Nectar mattress owner Resident Home
As part of the deal, Resident co-founders and co-CEOs Eric Hutchinson and Ran Reske will remain in their current positions.
By Howard Ruben • March 7, 2024 -
Daphne Howland/Retail Dive
Beyond Inc. acquires Zulily brand for $4.5M
The Overstock and Bed Bath & Beyond parent company purchased the online discount retailer to further position itself in the off-price market.
By Kaarin Moore • March 7, 2024 -
Courtesy of Birkenstock
Birkenstock’s expanding production capacity lifts sales as it eyes more growth ahead
The footwear brand plans to double capacity in the next three years, spending tens of millions of dollars along the way.
By Ben Unglesbee • March 7, 2024 -
Permission granted by Il Makiage
Oddity pushes forward with new brands as it posts 44% revenue growth in Q4
The Il Makiage and SpoiledChild owner finished 2023 on a high note, swinging to a profit in the fourth quarter, and plans to launch two brands in 2025.
By Caroline Jansen • March 7, 2024 -
Scott Olson via Getty Images
Amid tepid results, Foot Locker turns to store revamps and immersive concepts
The retailer is overhauling most of its namesake and Kids Foot Locker fleet while it invests in new store concepts.
By Cara Salpini • March 6, 2024 -
Daphne Howland/Retail Dive
Citing momentum over the holidays, Nordstrom moves deeper into off-price
The retailer will open even more of its Rack stores this year than in 2023, but analysts warned that its full-line business also requires attention.
By Daphne Howland • March 6, 2024 -
Courtesy of Arc'teryx
Amer Sports reports double-digit sales growth in first earnings post-IPO
Sales at the sporting goods company surged 23% last year as Arc’teryx led the technical apparel segment to 45% growth.
By Cara Salpini • March 6, 2024 -
Courtesy of Target
Target to launch paid membership program to rival Amazon Prime, Walmart+
Target Circle 360 will cost $99 a year and comes as the retailer plans 300 new stores in the coming decade.
By Nate Delesline III • March 5, 2024
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