Financial News: Page 277
-
Macy's plans suggest it's becoming a discount department store
Incoming CEO Jeff Gennette on Tuesday divulged plans for the future of the department store, which emulate moves by off-price retailers and rivals like Kohl's and J.C. Penney.
By Daphne Howland • March 15, 2017 -
Gap taps former Gymboree chief to lead Banana Republic
Incoming CEO Mark Breitbard previously held several jobs across the Gap organization, including a stint as chief merchandising and creative officer of its Old Navy brand.
By Daphne Howland • March 15, 2017 -
Bringg brings in $10M to further fund delivery management aims
The startup helps retailers, consumer products firms and others streamline their delivery ecosystem and last-mile efforts.
By Dan O'Shea • March 14, 2017 -
Report: Walgreens, Rite Aid prepared to sell more assets to coax FTC in merger deal
The drugstore rivals are willing to unload additional stores as well as distribution centers, software and human resources to regional drugstore chain Fred’s Pharmacy.
By Daphne Howland • March 14, 2017 -
UPDATE: Neiman Marcus reportedly in talks to sell to Hudson's Bay
The luxury department store retailer said it will "explore and evaluate potential strategic alternatives," which may include a sale of the company or other assets.
By Corinne Ruff • March 14, 2017 -
AmazonFresh Pickup stores reportedly poised to open in Seattle
Exterior signs will read “Shop online. Pick up here” and “Relax while we load your groceries.”
By Daphne Howland • March 14, 2017 -
Under Armour poaches GM design guru for chief innovation officer
Clay Dean spearheaded the strategic creative vision behind several of GM's concept cars, serving as the chief designer that produced the Hummer H2, H2 SUT and H3 programs.
By Daphne Howland • March 14, 2017 -
J.C. Penney marketing head Mary Beth West departs for Hershey
The search is on to replace executive VP-chief customer and marketing officer Mary Beth West, who is leaving to return to the food business after two years.
By Daphne Howland • March 14, 2017 -
RILA, Accenture launch tech innovation center
The initiative, which aims to bridge the gap between retailers and startups, includes an advisory council bringing together executives from Best Buy, Dick’s Sporting Goods, Lowe’s, Target, Walgreens, Westfield and Foot Locker.
By Corinne Ruff • March 13, 2017 -
Gordmans files for Chapter 11 bankruptcy protection
The 100-plus year-old discount department store has struggled with sales and is loaded with some $85 million in debt, much of it due in 2020.
By Daphne Howland • March 13, 2017 -
Walgreens fills chief marketing, merchandising vacancies
Adam Holyk and Joe Hartsig will take over for outgoing executive Linda Filler as the drugstore chain awaits word on its planned merger with rival Rite Aid.
By Daphne Howland • March 13, 2017 -
Best Buy denies FBI, Geek Squad techs worked together without warrants
"We have not been trained by the FBI nor have we ever shared customer lists, conducted surveillance or searched customer computers for them," the electronics retailer maintains.
By Daphne Howland • March 13, 2017 -
Target ups data analytics game through series of 'acqui-hire' deals
"Acqui-hires allow us to accelerate both onboarding the right kind of talent, onboarding the right kind of technologies and getting to market much faster," said Target Senior Vice President Paritosh Desai.
By Dan O'Shea • March 12, 2017 -
UPDATE: Bankrupt Gander Mountain closing 30 stores, soliciting bids
The privately held outdoor retailer will begin soliciting going-concern bids for its business in the coming weeks.
By Daphne Howland • March 10, 2017 -
Morningstar: J.C. Penney store closures could impair $30B in commercial mortgage-backed loans
Roughly 40 closings in particular — in malls already suffering from below-average tenant sales — are poised to impair some $7.29 billion in securities, the credit rating firm said.
By Daphne Howland • March 10, 2017 -
Signet Jewelers to close 165 stores, review sexual harassment charges
Following allegations that it fostered a culture of harassment and discrimination, the diamond jeweler will add a “respect in the workforce” committee to its board and conduct a review of its policies.
By Corinne Ruff • March 10, 2017 -
Men's Wearhouse parent halting expansion of Macy's tuxedo partnership
Tailored Brands, which also owns Jos. A. Bank, has tallied operating losses between $19 million and $20 million related to its Macy's concessions.
By Daphne Howland • March 10, 2017 -
Ulta Beauty to open another 100 stores
The cosmetics retailer's Q4 net sales increased 24.6% to $1.58 billion from $1.27 billion in the year-ago quarter.
By Daphne Howland • March 10, 2017 -
Sears Holdings revenues tank even as losses shrink
The once-iconic chain is "is broken and now well beyond repair,” according to GlobalData Retail managing director Neil Saunders.
By Daphne Howland • March 9, 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 to shutter 70 stores
The office supplies retailer is left to implement a turnaround strategy after its plan to merge with rival Office Depot failed last year.
By Daphne Howland • March 9, 2017 -
RadioShack files for second bankruptcy in 24 months, closing 200 stores
The electronics retailer is reportedly in talks with wireless operator partner Sprint (which helps run about a third of its brick-and-mortar operations in co-branded stores) to evaluate its options and help preserve jobs.
By Daphne Howland • March 9, 2017 -
Macy's reportedly steps up self-service shoe approach
The “open sell" model resembles off-price retail, and players in that space have steadily taken market share from the struggling department store.
By Daphne Howland • March 9, 2017 -
Deep Dive
What went wrong at BCBG Max Azria
The success of online retailing and fast fashion certainly helped grease the way for BCBG’s descent, but that’s not the whole story behind what brought down the house that Azria built.
By Lara Ewen • March 9, 2017 -
Walgreens may give FTC notice of 'certified compliance' to force Rite Aid merger decision
The move gives regulators just 30 days to decide on the proposed merger between the drugstore retailer and rival Rite Aid.
By Daphne Howland • March 9, 2017 -
Instacart adds $400M in Series D, plans expansion to 25 new markets
The funding vaults the estimated total value of the grocery shopping and delivery startup to $3.4 billion, up from $2 billion in its previous round.
By Dan O'Shea • March 8, 2017
Previous
