Financial News: Page 291
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Report: Google snaps up shopping search startup Undecidable Labs
The firm's online purchasing tool involves “a filtering system that takes 'nice to have' and 'ideal' into consideration” to make product searches more meaningful.
By Dan O'Shea • Nov. 16, 2016 -
Macy's adding Backstage off-price pop-ups to 45 full-line stores
The department store chain is also adding new merchandise categories across some of the Backstage shops, including toys, home decor and pet accessories.
By Daphne Howland • Nov. 16, 2016 -
Target raises outlook, boosted by online and back-to-school sales
The retailer's emphasis on differentiated merchandise is paying off, but it must do more to entice and inspire shoppers, analysts say.
By Daphne Howland • Nov. 16, 2016 -
Gap taps former Dick's finance chief as new CFO
Teri List-Stoll will succeed Sabrina Simmons, who is exiting the apparel retailer's ranks at the end of the 2016 fiscal year.
By Daphne Howland • Nov. 16, 2016 -
TJX sales surge on 'strong momentum' in customer traffic
The strong dollar and higher wages are hitting the off-price retail company, but analysts still believe its model is robust.
By Daphne Howland • Nov. 16, 2016 -
Wal-Mart denies urging workers not to download labor group app
The retail giant said that employees can decide for themselves whether to use WorkIt, but warned the advocacy app could pose privacy issues.
By Daphne Howland • Nov. 16, 2016 -
Report: October retail sales hit 2-year high
Price pressures remain and margins could suffer as consumers remain cautious, especially in light of unknown longer term consequences from the U.S. election.
By Daphne Howland • Nov. 15, 2016 -
Dick's exploits competitor struggles to beat expectations
The sporting goods retailer will retain and convert 22 Sports Authority leases to Dick’s stores and 30 Golfsmith locations to its Golf Galaxy brand.
By Daphne Howland • Nov. 15, 2016 -
Neiman Marcus CFO Grimes resigns after 17 months
The exit "was not the result of any disagreement regarding any matter" related to Neiman Marcus "operations, policies or practices,” the upscale retailer said.
By Daphne Howland • Nov. 15, 2016 -
Amazon overhauls controversial 'rank-and-yank' employee review program
Amazon's reputation as a ruthless employer came to light after the publication of a 2015 New York Times article detailed "bruising" working conditions that fly in the face of today's HR trends.
By Daphne Howland • Nov. 15, 2016 -
Sears, Activehours team to give Shop Your Way members, store associates paycheck advances
The mobile paycheck advance application allows rewards members and Sears and Kmart staffers to purchase products and services right when they need them.
By Dan O'Shea • Nov. 14, 2016 -
Deep Dive
How 7 retail execs responded to Trump's presidential win
Some executives are extending an olive branch, while others are preaching optimism.
By Corinne Ruff • Nov. 14, 2016 -
Gildan to buy bankrupt American Apparel for $66M
The buyout does not include any of American Apparel's stores, signaling its inevitable shutdown as a physical retailer.
By Daphne Howland • Nov. 14, 2016 -
Alibaba's Singles Day shatters expectations with $18B in sales
Sales across Alibaba's China and international retail marketplaces increased 32% over last year's shopping event, with mobile gross merchandise volume accounting for 82% of that total, compared to 69% in 2015.
By Daphne Howland • Nov. 14, 2016 -
Kenneth Cole to shutter all but two US stores
The fashion house and shoe retailer will take the next six months to wind down its 63 outlet stores, leaving one in New York City and another in Arlington, VA.
By Daphne Howland • Nov. 14, 2016 -
Hudson's Bay loses hope in end-of-year sales spike
CEO Jerry Storch said its investments in robotic fulfillment will soon pay off, and he feels good headed into the holiday season.
By Daphne Howland • Nov. 11, 2016 -
J.C. Penney comeback goes off course on soft apparel sales
The retailer lowered its fiscal year same-store sales guidance after increased competition from off-price retailers and weak shopper traffic derailed its third quarter results.
By Daphne Howland • Nov. 11, 2016 -
Dollar General reveals plans for smaller, urban DGX store format
In a challenge to similar concepts by Target and Wal-Mart the stores will offer a range of grab-and-go food items as well as home goods and electronics.
By Daphne Howland • Nov. 11, 2016 -
Nordstrom recovery gains momentum despite steep Trunk Club losses
The department store retailer beat analyst expectations for the second consecutive quarter, boosted by its anniversary sale and off-price Rack business.
By Daphne Howland • Nov. 11, 2016 -
Report: Sears suppliers slowing shipments on bankruptcy jitters
Murmurs about Sears’ inability to keep up with vendor payments are growing louder, and at least six suppliers have reduced shipments to the struggling retailer out of fears it will go under.
By Daphne Howland • Nov. 10, 2016 -
Ralph Lauren makes progress on 'Way Forward' plan
Analysts have been patient with the retailer’s turnaround plan, despite a decline in wholesale revenue and a rise in expenses.
By Daphne Howland • Nov. 10, 2016 -
Macy's inks real estate deal with Brookfield, sells San Francisco menswear store for $250M
The embattled department store retailer is granting real estate investment firm Brookfield exclusive rights to create a “pre-development plan” for at least 50 Macy’s property assets.
By Daphne Howland • Nov. 10, 2016 -
Kohl's CFO McDonald retiring in spring 2017
The announcement of Wesley McDonald's imminent departure coincides with the release of a third quarter earnings report suggesting that the retailer's turnaround plan is gaining traction ahead of the holidays.
By Daphne Howland • Nov. 10, 2016 -
Nasty Gal files for Chapter 11 bankruptcy
The quirky apparel retailer has struggled to grow beyond its cult following of young millennial women and fallen behind fast-fashion brands like Forever 21 and Zara.
By Daphne Howland • Nov. 9, 2016 -
Reports: With Trump in White House, Amazon could face antitrust probe
President-elect Donald Trump earlier this year blamed Amazon's "monopolistic tendencies" for "the destruction of department stores and the retail industry.”
By Dan O'Shea • Nov. 9, 2016