Financial News: Page 284
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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 -
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 -
Retrieved from Target on 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
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