Financial News: Page 24
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Olga Nikiforova for iStock via Getty Images
Shutting down Overstock was ‘a fatal mistake’: Beyond executive chairman
Beyond Inc. will reopen Overstock's online store in the coming weeks in collaboration with Shopify.
By Nate Delesline III • Feb. 22, 2024 -
Courtesy of Timberland
S&P Global Ratings downgrades VF Corp, expects sale of at least one major brand
Declines at VF’s top four labels will likely continue amid weakness in wholesale and direct-to-consumer sales — and not just at Vans.
By Daphne Howland • Feb. 21, 2024 -
nito100 via Getty Images
Zevia taps new CFO amid growth push
The CFO swap comes as Zevia fights to bolster growth amid financial challenges and competitive demand for healthier beverages.
By Grace Noto • Feb. 21, 2024 -
Daphne Howland/Retail Dive
Under Armour inventory ticks closer to normal as freight, supply costs fall
The sportswear brand finally posted a decline in stock levels while executives said it has worked with vendors to lower product costs.
By Ben Unglesbee • Feb. 21, 2024 -
Kaarin Vembar/Retail Dive
Walmart to buy Vizio for $2.3B as annual revenue climbs 6%
The company reported double-digit growth in its advertising unit for the year, while e-commerce sales surpassed $100 billion.
By Nate Delesline III • Feb. 20, 2024 -
Daphne Howland/Retail Dive
Macy’s faces proxy fight after rejecting takeover bid
Will investors be tempted by the idea of capitalizing on the department store's real estate holdings?
By Daphne Howland • Feb. 20, 2024 -
Mild winter hits Ace Hardware sales in Q4
But the retailer cooperative swung into the black in the period, and stores made inroads with overstocks by the end of the year.
By Daphne Howland • Feb. 20, 2024 -
Crocs reaches ‘record’ annual revenue of nearly $4B
The company said it’s in the early days of implementing a retail strategy for its Heydude brand and plans to open 30 outlet locations this year.
By Nate Delesline III • Feb. 16, 2024 -
Courtesy of Express Inc.
Express CEO seeks to ease bankruptcy concerns
In a memo on Wednesday, Stewart Glendinning said the apparel retailer is awaiting a $52 million CARES Act payment to help with long-term liquidity.
By Nate Delesline III • Feb. 15, 2024 -
The Children’s Place may get a reprieve as investor takes majority stake
Mithaq Capital has taken a 54% share, will nominate 11 people to the apparel retailer's board, and has offered to help shore up its liquidity.
By Daphne Howland • Feb. 15, 2024 -
Permission granted by Away
Away lays off 25% of internal staff
The DTC luggage brand is undergoing a reorganization that also includes "the elimination of a traditional executive team structure.”
By Caroline Jansen • Feb. 14, 2024 -
Courtesy of Hasbro
Hasbro cuts half of its SKUs as sales fall 23% in Q4
CFO Gina Goetter said the products represented just 2% of revenue and were duplicative and unprofitable.
By Nate Delesline III • Feb. 14, 2024 -
11 digitally native retailers that could file for bankruptcy in 2024
While off to a slower start than 2023, filings are expected to continue in the industry, especially among many direct-to-consumer brands.
By Caroline Jansen • Feb. 14, 2024 -
Courtesy of The Body Shop
The Body Shop enters administration in the UK, citing past ownership and tough retail environment
The beauty retailer, which was just acquired by private equity firm Aurelius in November, will restructure under a process akin to Chapter 11 in the U.S.
By Daphne Howland • Feb. 13, 2024 -
Courtesy of Kohl's
Is Kohl’s real estate attracting investors?
Various funds, including one owned by the Singapore government, have taken stakes in recent days as rumors swirl about activist pressure.
By Daphne Howland • Feb. 9, 2024 -
Courtesy of Walt Disney World Resort/PRNewswire
ColumnThe Weekly Closeout: Disney turns to villains for bridal inspiration, Abercrombie & Fitch Co. cuts a role
The company looked to Ursula and Maleficent for a collection with Allure Bridals, while the specialty retailer eliminated its global brands president position.
By Retail Dive Staff • Feb. 9, 2024 -
Courtesy of Mattel
After ‘milestone year’ Mattel targets $200M in cost savings
The toy manufacturer named a new chief strategy officer and rolled out a business optimization plan to drive further profitability as Q4 sales grew 16%.
By Nate Delesline III • Feb. 9, 2024 -
Cara Salpini/Retail Dive
Under Armour CEO on sportstyle pivot: ‘We’re not trying to be anything other than authentically Under Armour’
Stephanie Linnartz talked about the evolution of the company’s product offering as revenue fell 6%.
By Cara Salpini • Feb. 8, 2024 -
Courtesy of The Container Store
The Container Store lowers guidance as Q3 sales fall 15%
The home goods retailer, which swung to a loss in the quarter, said it can't commit to the timing of store growth beyond this year.
By Nate Delesline III • Feb. 7, 2024 -
Juan Naharro Gimenez/Getty Images via Getty Images
VF Corp launches strategic review of brand assets, CFO steps down
The company’s largest brands saw double-digit revenue declines in Q3, while overall company revenue dipped 16% for the period.
By Laurel Deppen • Feb. 7, 2024 -
Getty Images via Getty Images
Simon Property Group trims stake in Forever 21, Brooks Brothers brand-management firm Authentic
The mall REIT is unwinding some of its investment into the retail business, which CEO David Simon has acknowledged is more volatile than real estate.
By Daphne Howland • Feb. 7, 2024 -
Courtesy of Marley Spoon
Marley Spoon to sell US fulfillment, production facilities in $24M deal
FreshRealm will acquire the assets and fulfill customer orders, while the meal kit company will handle front-end operations.
By Max Garland • Feb. 7, 2024 -
Permission granted by Meati Foods
Meati Foods names Patagonia, Bass Pro veteran as CFO
The appointment of Phil Graves comes as the plant-based sector contends with a slowdown in sales and cash-strapped consumers watch their spending.
By Christopher Doering • Feb. 7, 2024 -
Natura & Co. explores separation from Avon
If approved, the move would create two separately managed, publicly traded beauty companies.
By Nate Delesline III • Feb. 6, 2024 -
Courtesy of Solo Brands
Solo Brands appoints Vitamin Shoppe exec as new CFO
The leadership swap comes after Solo replaced its CEO and lowered its revenue guidance for 2023 following disappointing sales.
By Grace Noto • Feb. 6, 2024
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