Financial News: Page 274
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Lands' End continues to struggle as Sears mark lingers
CEO Jerome Griffith said there's more the company can do to turn around merchandising and marketing, but he sees light at the end of the tunnel.
By Daphne Howland • June 6, 2017 -
Drexler's J. Crew departure marks the end of an era
Former CEO Mickey Drexler, who announced his resignation Monday, made his mark on apparel retail, but is leaving amid unparalleled turmoil in the sector.
By Daphne Howland • June 6, 2017 -
"Michaels Arts And Crafts store - Saugus, Massachusetts" by Anthony92931 is licensed under CC BY-SA 3.0
Michaels sales fall short as Hobby Lobby, Amazon steal share
Sales for the arts and crafts retailer missed analyst expectations as executives blamed a "coloring headwind."
By Ben Unglesbee • June 6, 2017 -
Lidl US announces tie-up with fashion designer Heidi Klum
The no-frills German retailer's U.S. expansion promises pose a significant challenge to Walmart, Target and U.S. grocery stores.
By Daphne Howland • June 6, 2017 -
Ikea launching startup accelerator with lofty goals
The Swedish retailer is the latest company to launch a startup accelerator program, Ikea Bootcamp, which focuses on "enabling a positive impact on the planet, people and society.”
By Dan O'Shea • June 5, 2017 -
J. Crew CEO Mickey Drexler steps down
After 14 years at the company, Drexler will be succeeded by James Brett, current president of West Elm.
By Corinne Ruff • June 5, 2017 -
Consortium reportedly preparing 'stalking horse' bid for BCBG Max Azria
The group, led by licensing company Marquee Brands, could salvage as many as 20 stores, according to a report from Business of Fashion.
By Daphne Howland • June 5, 2017 -
Meijer thinks small with a new urban concept store
The Bridge Street Market will focus on fresh food and bring a unique small concept by Meijer to downtown Grand Rapids.
By Jeff Wells • June 5, 2017 -
Billabong taps longtime Nordstrom exec as CFO
Jim Howell, Nordstrom's former EVP of finance, will join the surf brand during a period of restructuring.
By Daphne Howland • June 5, 2017 -
Meijer's charitable outreach goes digital with new campaign
The Midwestern retailer identified sponsored products in its Produce For Kids initiative through its online shopping and digital coupon platforms.
By Keith Loria • June 5, 2017 -
Walmart CEO: 'We will compete with technology, but win with people'
At the retailer's annual shareholder meeting, Doug McMillon described a vision for the retail giant that departs from its brick-and-mortar, always-low-prices mainstay.
By Daphne Howland • June 5, 2017 -
Retrieved from Walmart on June 06, 2017
Walmart testing 24-hour automated pickup kiosk for groceries
Located adjacent to a store in Oklahoma City, the kiosk can hold up to 30,000 products, including refrigerated and frozen items.
By Jeff Wells • June 5, 2017 -
Hollar fuels expansion with consumables from 7 brands
The mobile commerce dollar store plans to grow its SKU count by 500% by the end of the year to reach an estimated 18,000 SKUs.
By Dan O'Shea • June 4, 2017 -
Moody's: Luxury retailers' earnings growth to double this year
Although, growth is unlikely to reach the double-digit levels the sector enjoyed between 2010 and 2013, according to a report released Thursday.
By Daphne Howland • June 2, 2017 -
Fidget spinners deliver for Five Below
The company is expanding its store fleet and reaching new customers, who are coming in for treats and leaving with more.
By Daphne Howland • June 2, 2017 -
Amazon adds robots, 2K jobs to new Houston warehouse
Robots and humans will collaborate at the new facility to satisfy increasing demand for the Seattle behemoths' myriad products.
By Jennifer McKevitt • June 2, 2017 -
Lululemon beats expectations, plans wind down of Ivivva
While competition in athleisure is stiff and the market is maturing, the initiator in the space is holding its own, thanks to continuing innovation.
By Daphne Howland • June 2, 2017 -
Wal-Mart invests in VR for HR
The retail behemoth said it has started using virtual reality to help prepare employees for busy store conditions and other complex situations.
By Ben Unglesbee • June 1, 2017 -
Dollar General sales jump 6.5% amid bet on store expansion
The dollar store is working with thin margins amid stiff competition, but still has room to grow stores.
By Daphne Howland • June 1, 2017 -
Report: Retail cuts lead US job losses for the year
Macy’s has driven the retail carnage, with 10,000 job cuts and the closure of 68 stores, and the bankruptcies of The Limited, Wet Seal and American Apparel have also contributed to major losses.
By Daphne Howland • June 1, 2017 -
BCBG founder Max Azria ditches fashion for bug-zapping startup ZappLight
The designer has traded “bon chic, bon genre," Parisian slang for "good style, good attitude” and the basis for his former company’s name, for “buzz, zap.”
By Daphne Howland • June 1, 2017 -
Deep Dive
Why Wal-Mart is betting big on e-commerce acquisitions
The brick-and-mortar giant has been gobbling up online retail startups at a record pace. Is it a path to e-commerce success or an existential crisis?
By Daphne Howland • May 31, 2017 -
Michael Kors to shutter up to 125 stores in next 2 years
The apparel and accessories brand is suffering from its retail over-expansion and discounting habit, which have hit sales and made its recovery path more difficult.
By Daphne Howland • May 31, 2017 -
Office Depot shuffles C-suite to firm up new strategy
CEO Gerry Smith arrived at the company in February, and now his team is shaping up as the retailer continues to figure out how to stay competitive in the office supplies space.
By Daphne Howland • May 31, 2017 -
Neiman Marcus interim CFO steps down after 7 months
The debt-loaded company and Michael Fung agreed not to renew his consulting contract as the department store retailer continues to search for a permanent replacement.
By Daphne Howland • May 31, 2017