Financial News: Page 28
-
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 -
Estée Lauder to cut up to 5% of positions in restructuring plan
The layoffs come after sales fell 7% in the second quarter and as the beauty company refocuses around driving sustainable profitability.
By Nate Delesline III • Feb. 6, 2024 -
Justin Sullivan via Getty Images
Amazon looks to improve inbound fulfillment processes in 2024
The company wants products entering its facilities to move as efficiently as items being delivered to customers.
By Max Garland • Feb. 5, 2024 -
Frank Polich/Getty via Getty Images
ColumnThe Weekly Closeout: UPS to cut 12K jobs and Nordstrom Rack continues to expand footprint
The delivery giant aims to save $1 billion, while the department store is accelerating openings of its lower-priced brand.
By Retail Dive Staff • Feb. 2, 2024 -
Permission granted by Amer Sports
Arc’teryx CEO talks Amer Sports IPO and what growth looks like
The sporting goods company raised about $1.37 billion from the IPO, which was priced a few dollars lower than expected.
By Cara Salpini • Feb. 2, 2024 -
Permission granted by Amazon
Move over, Alexa: Amazon launches AI shopping tool ‘Rufus’
The e-commerce giant beat expectations in the holiday quarter as revenue from advertising and fees grows.
By Daphne Howland • Feb. 2, 2024 -
Courtesy of Walgreens
Walgreens lays off another 145 employees
The drugstore retailer said it still has “significant cost savings and growth goals to deliver” as it confirmed further downsizing of its workforce.
By Daphne Howland • Feb. 2, 2024 -
Courtesy of Peloton
Peloton to end co-branded college bike experiment
Less than six months after announcing a program with the University of Michigan, the brand will no longer release bikes in other school colors.
By Caroline Jansen • Feb. 1, 2024 -
Jonathan Leibson via Getty Images
Adidas plans to sell the rest of its Yeezy inventory ‘at least at cost’ this year
The company, which originally toyed with the idea of writing off all leftover merchandise from the failed partnership, has instead sold it off piece by piece.
By Cara Salpini • Feb. 1, 2024 -
Crocs brand chief to retire, CFO steps up
Anne Mehlman, who had returned to Crocs five years ago, takes over from Michelle Poole, who will stay on as an adviser until early 2025.
By Daphne Howland • Feb. 1, 2024
Previous
