Financial News: Page 287
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Struggling Rue21 elevates execs to 'transform the customer experience'
Brett Trent will fill the newly-created CMO spot, yet Fitch analysts have named the teen retailer as one of seven retailers in imminent danger of going bankrupt.
By Daphne Howland • Jan. 3, 2017 -
Amazon's one-click patent nearing expiration date
So-called “utility” patents expire 20 years after the patent filing date — in this case, Sept. 12, 1997 — meaning that other retailers will soon be able to use the one-click function without having to license it from Amazon.
By Dan O'Shea • Jan. 3, 2017 -
Deep Dive
How tech drove retailer turnaround efforts in 2016
Staples, Sears and J.C. Penney were among the big sector names leaning on tech innovation to help steer their comeback narratives and position themselves for growth in 2017.
By Dan O'Shea • Jan. 3, 2017 -
Sears accelerates store closings, opens $200M line of credit
CEO Edward Lampert’s ESL Investments hedge fund is providing yet another lifeline for the fading retailer.
By Daphne Howland • Jan. 3, 2017 -
UPDATE: Nasty Gal set for bankruptcy auction with $20M stalking bid from U.K.'s Boohoo
U.K. online merchant Boohoo is seeking to take on the edgy women's apparel retailer’s brand to expand its growing stable of youth-oriented fashion.
By Daphne Howland • Jan. 3, 2017 -
FTC's second request delays Bass Pro-Cabela's merger
In a Securities and Exchange Commission filing Friday, Cabela’s stated that its deal to sell its credit card business to Capital One has also been delayed.
By Daphne Howland • Dec. 30, 2016 -
FAO Schwarz owner ThreeSixty Group acquires Sharper Image
ThreeSixty appears to be shifting its focus beyond licensing to outright ownership of brands — and there may be more acquisitions to come.
By Daphne Howland • Dec. 30, 2016 -
Rent the Runway raises $60M to expand store footprint, subscription business
The New York City-based startup, co-founded in 2009 by Harvard Business School graduates Jennifer Hyman and Jennifer Fleiss, has now raised more than $190 million in venture financing.
By Jason Ankeny • Dec. 28, 2016 -
American Apparel shutters nearly all UK stores
Operations in Spain, Japan, Australia and Ireland are also winding down as the retailer prepares to unload its intellectual property rights and inventory in its second bankruptcy in little over a year.
By Daphne Howland • Dec. 23, 2016 -
Court orders Amazon to hand over customer information
A judge rejected Amazon’s argument that complying with a previous court order to hand over customer information in a class action lawsuit would violate the e-commerce kingpin's shopper confidentiality promise.
By Daphne Howland • Dec. 23, 2016 -
GOP's proposed import tax could see retailers' tax burdens rise exponentially
Merchants like Gap Inc. will be particularly hard hit by the border-adjustment style tax, which threatens to raise taxes on a single sweater from $1.75 to $17.
By Jennifer McKevitt • Dec. 22, 2016 -
Ikea settles dresser death claims for $50M
Moving forward, the Swedish furniture maker will only sell chests and dressers in the U.S. that meet or exceed the voluntary safety standard for clothing storage units, and will increase funding for its “Secure It” program to raise awareness of the risk of tip-overs.
By Daphne Howland • Dec. 22, 2016 -
J.C. Penney partnerships boost appliance, home assortment
The discount department store is turning toward home appliances and furniture to help offset declining apparel sales.
By Daphne Howland • Dec. 22, 2016 -
Deep Dive
The retail winners and losers of 2016
Some retailers spent the year readying for the industry's future, while others grappled with the ghosts of its past. Here are the companies, technologies and trends that soared or sank in 2016.
By Corinne Ruff • Dec. 22, 2016 -
Bed Bath & Beyond's e-commerce rise fails to lift store sales
Digital sales rose more than 20%, but there’s evidence that the home goods and furniture retailer's online efforts are cannibalizing physical store sales.
By Daphne Howland • Dec. 22, 2016 -
Limited Stores reportedly preparing for bankruptcy
The specialty apparel retailer says it’s entertaining bids, but it's more likely going down a path toward liquidation.
By Daphne Howland • Dec. 22, 2016 -
Nike tumbles on future orders lag
Analysts continue to view the athletic apparel giant's inventory build-up and future orders slowdown as a reflection of healthy growth at rivals Under Armour and Adidas.
By Daphne Howland • Dec. 21, 2016 -
Staples appoints e-commerce veteran Masud to new CTO role
Since joining the office supplies retailer in mid-2013, Masud has led the expansion of its omnichannel capabilities and spearheaded the rollout of the Staples Exchange vendor platform.
By Dan O'Shea • Dec. 21, 2016 -
Report: Apparel, footwear retailers may suffer most under Trump tax plans
Gap, which imports 71% of its merchandise, is most vulnerable, while footwear retailers are more likely to make up lost sales, according to a Wells Fargo report.
By Daphne Howland • Dec. 21, 2016 -
Aeropostale, Disney among latest retailers nixing on-call scheduling
Under pressure from attorneys general, at least 13 other retailers including L Brands, Gap Inc. and Abercrombie & Fitch ended the practice last year.
By Daphne Howland • Dec. 20, 2016 -
Fred's Pharmacy to acquire 865 Rite Aid stores for $950M
The deal may ease approval of Walgreens Boots Alliance’s proposed $9.4 billion acquisition of Rite Aid, which was delayed in October over antitrust concerns.
By Daphne Howland • Dec. 20, 2016 -
Opinion
How Macy's dismantled everything once right about department stores
The retailer stopped doing the one thing it was good at doing better than anyone else — something that might have saved it from obsolescence during tough times, from recessions to Amazon’s looming dominance in e-commerce.
By Lee Peterson • Dec. 20, 2016 -
Akamai acquires bot security upstart Cyberfend
Cyberfend's bot-related security and detection solutions will help Akamai grow its bot management and mitigation services for several industries, including retail.
By Dan O'Shea • Dec. 19, 2016 -
Bankrupt American Apparel gets nod to liquidate 9 stores
Locations in several states will close by New Year’s Eve, and the bankrupt retailer’s remaining U.S. stores will close by April 30, 2017.
By Daphne Howland • Dec. 19, 2016 -
Pinterest hired more female tech workers in 2016, but fell short of goal
The social media site grew the percentage of women it employs in technology jobs from 21% to 26% in 2016, and increased the ratio of engineers to 22%, but missed its self-imposed goal to boost the latter figure to 30%.
By Dan O'Shea • Dec. 19, 2016