Financial News: Page 280
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Nike signs Rory McIlroy to 10-year deal as Masters looms
McIlroy, the No. 2-ranked pro golfer in the world, has won 12 tournaments, including two major championships, since first signing with Nike in 2013.
By Dan O'Shea • April 3, 2017 -
Style guru Jenna Lyons leaving J. Crew
The fashionista put daylight between the brand's classic preppy aesthetic and rivals like Lands’ End and L.L. Bean, but sales have faltered over time.
By Daphne Howland • April 3, 2017 -
Uniqlo chief: We'll close stores if US imposes border adjustment tax
Many retailers are deeply concerned about the tax, which could devastate domestic merchants as well as their overseas counterparts.
By Daphne Howland • April 3, 2017 -
Walgreens reportedly preparing ultimatum on Rite Aid merger
The company may trigger a “certified compliance” declaration, sources told the New York Post, which would force the Federal Trade Commission to take action on the merger within the next few months.
By Daphne Howland • April 3, 2017 -
HHGregg to begin liquidation if no buyer emerges by week's end
Liquidation sales of the electronic retailer's merchandise, furnishings, trade fixtures and equipment will take place if no acceptable bids are received by Friday, according to a Securities and Exchange Commission filing.
By Daphne Howland • April 3, 2017 -
Sephora opens NYC Beauty TIP Workshop concept stores, debuts Tap and Try
Teach, Inspire, Play locations have digital signage, brighter lighting, a larger cash wrap and additional mobile POS stations, among other features.
By Dan O'Shea • April 2, 2017 -
Bankrupt Gander Mountain discloses stalking horse bid
The Minnesota-based outdoor gear retailer, which filed for bankruptcy March 10, is in the process of liquidating 32 stores nationwide.
By Daphne Howland • March 31, 2017 -
Gordmans gets reprieve from Texas-based Stage Stores
The regional department store chain will keep about half of Gordmans' stores open, and it plans to keep its name.
By Daphne Howland • March 31, 2017 -
Reports: Amazon, Wal-Mart escalate CPG pricing war
Amazon is bringing together major consumer goods companies to brainstorm packaging and supply chain reforms and to convince them to sell directly to consumers via Amazon Marketplace.
By Daphne Howland • March 31, 2017 -
H&M signals impending discounting, launch of new brand
After disrupting the apparel market with low-priced yet on-trend apparel, H&M is running into problems with changing consumer behavior.
By Daphne Howland • March 30, 2017 -
Report: Georgia bank could help salvage Cabela's-Bass Pro merger
Synovus Financial is in discussions to facilitate Capitol One’s proposed takeover of Cabela’s credit card business, helping the bank card products issuer sidestep a protracted regulatory review process and accelerating the deal's completion.
By Daphne Howland • March 30, 2017 -
Lululemon tumbles on bland spring merchandising miss
The retailer is facing stiffer competition and a saturated athleisure market, but its physical stores and global expansion will likely see it through, analysts say.
By Daphne Howland • March 30, 2017 -
US Supreme Court tosses NY law prohibiting retailer credit card fees
The ruling "affirms the right of retailers to communicate honestly with their customers about the true cost of credit cards,” said Deborah White, senior executive vice president and general counsel of the Retail Industry Leaders Association.
By Daphne Howland • March 30, 2017 -
Landlords, cities plying retailers with cash incentives
Monetary incentives earmarked for improvements and moving expenses are becoming especially common in key New York shopping areas like Madison Avenue and Fifth Avenue.
By Daphne Howland • March 29, 2017 -
Restoration Hardware promises growth after rough holiday quarter
Same-store sales fell 18% in the fourth quarter compared to a 9% increase last year, but the home furnishings retailer managed to beat Wall Street expectations.
By Daphne Howland • March 29, 2017 -
Rent-A-Center squirrels away 'poison pill'
The company's board of directors unanimously adopted a stockholder rights plan making it more expensive for any major shareholder to increase its stake, a move to discourage potential takeover bids.
By Daphne Howland • March 29, 2017 -
Wal-Mart promotes three tech executives amid ongoing Jet integration
The promotions follow other changes in the highest ranks of the retailer's technology operations, with several executives departing in recent months.
By Dan O'Shea • March 28, 2017 -
At Home's physical store focus helps push it to profitability
The home decor retailer also unveiled its first television advertising campaign, which will help introduce its brand to more consumers as its store count increases.
By Daphne Howland • March 28, 2017 -
Coach takeover of Kate Spade reportedly imminent
The move could be a boon to both companies, but rival accessories retailer Michael Kors may yet swoop in with its own offer.
By Daphne Howland • March 27, 2017 -
Moody's downgrades J. Crew over proposed debt exchanges
The apparel retailer has struggled mightily in its turnaround, continually failing to recapture its previous place as a stalwart for the fashionable preppy set.
By Daphne Howland • March 27, 2017 -
Finish Line poised to close more stores after disappointing Q4
CEO Sam Sato said the company shuttered 24 underperforming stores in fiscal 2017, and that it plans to close another 15 to 20 locations this year.
By Daphne Howland • March 27, 2017 -
From deep discount to deluxe: Wal-Mart opens a new and improved store format
Polished granite floors, expanded local and organic offerings and a made-to-order pizza oven are just a few of the high-end amenities found in the new store prototype.
By Keith Loria • March 24, 2017 -
Macy's new CEO pledges radical merchandise, pricing changes
Jeff Gennette promises a more nimble retailer with more inspiring merchandise — an effort designed to compete with off-pricers like T.J. Maxx that have stolen market share from department stores.
By Daphne Howland • March 24, 2017 -
GameStop to shutter at least 150 stores this year
Digital downloads are hurting the retailer, though not as much as deep discounts on hardware and games at rivals, CEO Paul Raines told analysts.
By Daphne Howland • March 24, 2017 -
Five Below accelerates store expansion plans
The discount retailer is disregarding the conventional wisdom that growth is on the web — and so far it's paying off handsomely.
By Daphne Howland • March 24, 2017