Financial News: Page 276
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Blue Nile names former Target digital chief as CEO
Jason Goldberger, who left Target after just four months as chief digital officer and president of Target.com, will lead online jeweler Blue Nile.
By Daphne Howland • June 12, 2017 -
Going private may be 'the best thing that could happen' to Nordstrom
Despite several downgrades over its potential plan to go private, analysts told Retail Dive the department store is in a great position to restructure out of the glare of Wall Street.
By Daphne Howland • June 9, 2017 -
Deep Dive
'Brick mining': Why a need for data led Fabletics to open stores
"We needed better, more contextual data — this is the reason we decided to open stores,” the athleticwear brand's President Gregg Throgmartin said at the IRCE conference in Chicago.
By Laura Heller • June 9, 2017 -
Cabela's-Bass Pro Shops tie-up reportedly clears antitrust hurdle
The Federal Trade Commission has determined that the rivals’ close competition on price and similar sales strategies are not a major antitrust concern.
By Daphne Howland • June 9, 2017 -
Report: Sears sues another Craftsman supplier
The struggling retailer filed its second lawsuit in less than a month just days after resolving a dispute with vendor One World.
By Daphne Howland • June 9, 2017 -
Urban Outfitters plunges on same-store sales warning
The apparel retailer upset Wall Street with evidence in its quarterly SEC filing that its retail sales troubles run deep, sending shares down 10% in late trading Thursday.
By Daphne Howland • June 9, 2017 -
Hudson's Bay to cut 2K jobs amid 'transformation plan'
The Canadian department store company has been in expansion mode, but says it’s time to rationalize its brick-and-mortar operations in North America.
By Daphne Howland • June 9, 2017 -
Lowe's reportedly cuts 125 IT jobs, sending some to India
It's the second time in the last year the company has cut tech jobs as it reshapes the group and looks to off-shore IT functions.
By Dan O'Shea • June 8, 2017 -
Deep Dive
Hanson: Under Armour aiming to be Facebook of connected fitness
“We want to own the connected fitness community in the same way that Facebook owns the social media community and LinkedIn owns the business community,” George Hanson, VP North America e-commerce told IRCE attendees in Chicago.
By Dan O'Shea • June 8, 2017 -
Nordstrom to explore going private, shares soar 20%
Going private may give the department store chain more flexibility to reinvigorate the business, which continues to be buoyed by its off-price Rack unit.
By Corinne Ruff • June 8, 2017 -
"Staples Store sign logo building facade, US Postal Service, Staples Home Office Supplies Strike Picket" by Mike Mozart is licensed under CC BY 2.0
Staples adds new CIO as it prepares for massive digital shift
The office supply retailer wants to improve its competitiveness by bringing more digital solutions to the market.
By Justine Brown • June 8, 2017 -
Alibaba projects sharp growth thanks to Chinese middle class
While those consumers once headed to the commerce giant's marketplaces for basic household items and discounts, they’re now turning to them for higher end goods — and demonstrating a willingness to pay more for them.
By Daphne Howland • June 8, 2017 -
Vince focuses on e-commerce as loss widens in Q1
CEO Brendan Hoffman said the company's director-to-consumer sales including e-commerce improved despite a first quarter net loss of $9.3 million.
By Daphne Howland • June 8, 2017 -
Moody's: Department stores and distressed specialty retailers face long odds in coming months
The majority of the retail industry remains fundamentally healthy, but the ranks of the distressed — now at about 15% of U.S. retailers — will continue to grow.
By Daphne Howland • June 8, 2017 -
Deep Dive
To suit customer nuances, Brooks Brothers rolled out a tailor-made app
Making suits is what Brooks Brothers knows how to do. Now, the storied tailors are weaving technology into the process to speed up delivery time.
By Naomi Eide • June 8, 2017 -
Bebe to pay $65M to exit all store leases
Thanks to its money in the bank, bebe has been able to make a graceful exit from the retail landscape, in contrast to some retailers that ended up in bankruptcy court fighting over assets.
By Daphne Howland • June 8, 2017 -
Investors flee Macy's as gross margins get squeezed
Executives acknowledged at an investor meeting that its gross margins, compressed by excess holiday inventory and price competition, may fall more than previously thought.
By Ben Unglesbee • June 7, 2017 -
Target, Best Buy, Home Depot rank highest for mobile web experiences
The retailers scored highly across five user experience factors, especially within ease of use and speed, according to a UserTesting report.
By Dan O'Shea • June 6, 2017 -
Sears store closures for 2017 now pushing 250
A source close to the company told Retail Dive Sears will close 66 additional stores on top of the 180 already announced this year.
By Daphne Howland, Ben Unglesbee • June 6, 2017 -
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