Financial News: Page 294
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Wet Seal plans pop-up stores for the holidays
The retailer shuttered a third of its stores when it filed for bankruptcy more than a year ago, but leveraging temporary locations could help attract holiday shoppers.
By Daphne Howland • Oct. 20, 2016 -
EBay's 'unspectacular quarter' causes shares to drop 8%
The auction site is doing better than expected since spinning off PayPal, but taking on Amazon more directly may be the wrong move, according to analysts.
By Daphne Howland • Oct. 20, 2016 -
Walgreens, Rite Aid delay merger amid antitrust concerns
The rivals may have to shed as many as 1,000 stores to get the FTC's blessing. But while grocery chain Kroger was interested in buying up some of those stores, the FTC has thrown a wrench into its plans.
By Daphne Howland • Oct. 20, 2016 -
Delta Galil taps ex-American Apparel CEO Paula Schneider to lead apparel brands
Schneider, who took the reins as American Apparel CEO in the midst of a brutal dispute with its founder Dov Charney, left the retailer only a few weeks ago
By Daphne Howland • Oct. 19, 2016 -
Adidas is closing in on Nike's athletic footwear dominance
The German sportswear giant is making headway in its comeback after losing the number two spot in sportswear to Under Armour.
By Daphne Howland • Oct. 19, 2016 -
Report: Wal-Mart's price war could hurt Target, dollar stores
Rollbacks could pull $35 billion worth of business from rivals, according to new research. But differentiation, not price, may be the retailer's saving grace.
By Daphne Howland • Oct. 19, 2016 -
Burberry shares plunge on shrinking wholesale revenues
Brexit’s damage to the pound helped boost retail sales in the U.K., but the brand's wholesale business is suffering, especially in Asia and the U.S.
By Daphne Howland • Oct. 19, 2016 -
Gap's Banana Republic to shutter all UK retail stores
The brand’s style and fit issues have damaged its ability to command top prices and its underperforming overseas stores will be the first to go.
By Daphne Howland • Oct. 19, 2016 -
Deep Dive
Bass Pro Shops reeled in Cabela's, but will antitrust regulators bite?
After months of speculation, outdoors retailer Bass Pro Shops finally landed rival Cabela's for about $5.5 billion. The question now is whether the FTC will sign off on the deal.
By Daphne Howland • Oct. 18, 2016 -
Dick's reportedly preparing bid on bankrupt Golfsmith stores
Bids for the golf specialty retailer, which filed for Chapter 11 bankruptcy last month, were due on Monday and a winner will be selected after an auction scheduled for Wednesday.
By Corinne Ruff • Oct. 18, 2016 -
Visa CEO stepping down, former AmEx chief takes reins
Charlie Scharf is resigning for personal reasons effective Dec. 1, with board member Alfred F. Kelly, Jr. stepping in as CEO-designate on Oct. 31.
By Daphne Howland • Oct. 18, 2016 -
"Staples Store sign logo building facade, US Postal Service, Staples Home Office Supplies Strike Picket" by Mike Mozart is licensed under CC BY 2.0
Report: Staples unloading European business, future of UK stores in doubt
Investment bank Cerberus is in discussions to acquire the office supplies retailer's European locations for "a nominal sum."
By Daphne Howland • Oct. 18, 2016 -
Report: J. Crew contemplating major changes to survive
Chairman and CEO Mickey Drexler is huddling with consultants at McKinsey & Co. on a strategy to turn the struggling apparel retailer around.
By Daphne Howland • Oct. 18, 2016 -
Under Armour, Fanatics reportedly score key MLB licensing deal
The brands are slated to produce on-field jerseys for Major League Baseball beginning in 2020, displacing current licensees Nike and Majestic Athletic.
By Dan O'Shea • Oct. 17, 2016 -
Pier 1 pushes back on activist investor ultimatum
Hedge fund Alden Global Capital is demanding a seat on the board and authority to shake up its members, but Pier 1 says its board is doing fine.
By Daphne Howland • Oct. 17, 2016 -
Report: Banana Republic shifting some full-line stores to factory outlets
The apparel chain is starting in the New York City area, targeting locations in urban shopping districts.
By Daphne Howland • Oct. 17, 2016 -
Struggling Sears elevates Hollar to CFO
Both Sears and Kmart continue to struggle mightily in what CEO Edward Lampert calls a “challenging retail environment.”
By Daphne Howland • Oct. 17, 2016 -
Retail sales bounce back strong in September
The brightest spot is Amazon and other e-commerce players, which as a category increased sales more than 10% from the year-ago period.
By Corinne Ruff • Oct. 14, 2016 -
Uniqlo forecasts record profit in 2017
Parent company Fast Retailing promised major changes to speed up its supply chain, and said it is expanding its e-commerce operations and transforming its distribution systems.
By Daphne Howland • Oct. 13, 2016 -
Ulta boosts outlook, brick-and-mortar expansion plans
The beauty retailer plans to grow its nationwide footprint to between 1,400 and 1,700 stores, up from its previous target of 1,200 locations.
By Daphne Howland • Oct. 13, 2016 -
Wal-Mart increases manager salaries above FLSA overtime threshold
The new federal labor regulation takes effect Dec. 1 and doubles the current threshold of a $23,660 annual salary.
By Daphne Howland • Oct. 12, 2016 -
Sears perks up Shop Your Way program ahead of holidays
Members will be privy to a special holiday pricing guarantee and a bonus in-store sales event.
By Daphne Howland • Oct. 12, 2016 -
Deep Dive
Why Lands' End parted ways with its CEO — and why it's still in deep trouble
Less than two years after hiring luxury apparel veteran Federica Marchionni to remake its image and brand, Lands’ End is moving on. But its fundamental challenges, including a fickle board, remain unchanged.
By Lara Ewen • Oct. 11, 2016 -
Report: Amazon plans convenience stores, curbside pickup for grocery ambitions
The small brick-and-mortar convenience stores are targeted exclusively to members of the e-commerce giant's Fresh food subscription service.
By Jason Ankeny • Oct. 11, 2016 -
LVMH's leather goods accelerate growth in third quarter
Revenue is up for the world's leading luxury products group thanks to its Sephora brand, as well as fashion and leather goods.
By Daphne Howland • Oct. 11, 2016