Financial News: Page 281
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Bankrupt Gander Mountain to liquidate 32 stores nationwide
The bankruptcy court approved liquidation sales while the retailer pursues a going-concern sale of its remaining assets.
By Daphne Howland • March 23, 2017 -
Vendors pull back from Sears as bankruptcy fears mount
CFO Jason Hollar pushed back on media reports highlighting financial risks in the company’s annual report, but some vendors are taking no chances, scaling back deliveries and demanding better payment terms.
By Daphne Howland • March 23, 2017 -
Bebe seeking to dump stores, move to e-commerce pure play
The struggling women’s apparel retailer announced that it’s exploring strategic alternatives and has retained B. Riley & Co. as its financial advisor.
By Daphne Howland • March 23, 2017 -
Payless reportedly preparing for imminent bankruptcy
Up to 500 stores are slated to close, a number in line with plans announced last fall as part of a new strategy emphasizing big box stores over mall stores.
By Daphne Howland • March 23, 2017 -
Nike loses footing on revenue miss
The athletic apparel and footwear company delivered a solid quarter, but its results nevertheless rattled investors, sending shares down nearly 6%.
By Daphne Howland • March 22, 2017 -
Deep Dive
How a border adjustment tax would wreak havoc on retailers
The proposed tax on imports could swallow $13 billion from six major U.S. retailers' annual earnings alone. Retailers and their trade groups are fighting back to stop it from becoming reality.
By Corinne Ruff • March 22, 2017 -
Sears Holdings acknowledges end may be near
The once-iconic retailer expressed "substantial doubt" in its ability to continue operating, according to its annual report filing with the Securities and Exchange Commission.
By Daphne Howland • March 22, 2017 -
Ex-Gordmans CEO, Stage Stores to bid on bankrupt Gordmans
Both are interested in running the company as a retailer rather than picking off its assets, which could be favored at a bankruptcy court auction.
By Daphne Howland • March 22, 2017 -
J. Crew ekes out profit amid sales slide
Its lower-priced, denim-oriented Madewell brand is faring better, but the bulk of its business is in the apparel retailer’s struggling flagship operation.
By Daphne Howland • March 22, 2017 -
Target's 'reimagined' store reinforces confidence in grocery business
The company’s redesign includes more grab-and-go foods, an enhanced produce section and pickup options for online orders.
By Jeff Wells • March 22, 2017 -
ModCloth CEO: 'Our strategy doesn't change' after Wal-Mart deal
“[The acquisition means] we have more inventory purchases, more marketing spend and can open more physical locations... We have a bigger canvas we can paint on,” ModCloth CEO Matt Kaness said at Shoptalk 2017.
By Jason Ankeny • March 22, 2017 -
Francesca's prepares for growth despite flat same-store sales
The apparel and accessories retailer is defying mall traffic woes with nimble approaches in stores and online.
By Daphne Howland • March 21, 2017 -
Target CEO Brian Cornell: 'Our stores are driving digital growth'
During his keynote at Shoptalk 2017, Cornell said physical and digital activity are working in tandem to drive the next phase of the retailer’s evolution.
By Jason Ankeny • March 21, 2017 -
Amazon enables Alexa to place Prime Now orders
It’s another friction reduction for Amazon’s Prime members, at least for those in certain areas of the U.S.
By Daphne Howland • March 21, 2017 -
Lands' End steadies revenue as losses widen
The failure of its Canvas reboot hit gross margins hard, and the apparel retailer has more work to do in marketing its brand to core and younger consumers.
By Daphne Howland • March 21, 2017 -
Target taps Kroger veteran to lead grocery business
Jeff Burt, former president of the Fred Meyer division of Kroger Co., will focus the retailer's strategy on creating a differentiated shopper experience.
By Emma Liem Beckett • March 21, 2017 -
California fashion boutique sues Ivanka Trump brand
San Francisco-based Modern Appealing Clothing alleges the actions of President Donald Trump and his advisors make for unfair competition.
By Daphne Howland • March 20, 2017 -
HHGregg deal with anonymous bidder collapses
The electronics retailer terminated its previously announced deal with an anonymous party to purchase all of its assets under Chapter 11 bankruptcy.
By Daphne Howland • March 20, 2017 -
UPDATE: J.C. Penney closing 138 stores, liquidations begin next month
The closures represent an effort to trim costs, leverage lucrative real estate value and better position the discount department store to more effectively neutralize e-commerce threats, CEO Marvin Ellison said.
By Daphne Howland • March 17, 2017 -
Target's Victoria Beckham collection will include plus sizes in stores
The limited-edition collaboration, launching next month, represents Beckham’s first mass market effort and promises to eclipse the shopper fervor stoked by the retailer’s Lilly Pulitzer effort two years ago.
By Daphne Howland • March 17, 2017 -
Tiffany regains a little sparkle with surprising Q4 rebound
But the upscale jeweler has some distance to go to capture the attention of younger American shoppers, analysts say.
By Daphne Howland • March 17, 2017 -
Honest Co. taps CPG veteran Vlahos as CEO
Nick Vlahos most recently served as executive vice president and chief operating officer at The Clorox Company, which owns natural brands Burt’s Bees and Green Works.
By Daphne Howland • March 17, 2017 -
Guess shuttering 60 underperforming US stores as it expands abroad
Declining mall traffic continues to undermine margins, executives at the fashion brand said.
By Daphne Howland • March 17, 2017 -
Bankrupt Gordmans laying off 600 staffers
The May 12 closure of its Omaha headquarters and distribution centers in Nebraska and Indiana will be permanent, the retailer told state regulators.
By Daphne Howland • March 17, 2017 -
Dollar General sales soar as expansion continues apace
The discount retailer also announced that Executive Vice President and Chief Merchandising Officer James W. Thorpe will retire effective April 15.
By Daphne Howland • March 16, 2017
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