Financial News: Page 297
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Zara rises on sales beat, launches eco-friendly line
While emphasizing the growth of its physical footprint, Zara parent Inditex also stressed the integration of its online and offline sales approaches.
By Daphne Howland • Sept. 22, 2016 -
Bed Bath & Beyond misses expectations despite web sales surge
Comparable sales at the home-goods chain fell 1.2% during the second quarter, falling short of Wall Street forecasts.
By Daphne Howland • Sept. 22, 2016 -
FedEx foresees record holiday shipments driven by e-commerce growth
The shipper plans to hire about 50,000 seasonal employees for the holidays, roughly the same as last year.
By Dan O'Shea • Sept. 21, 2016 -
Refinancing deal keeps Claire's turnaround hopes alive
A revised agreement with HSBC Bank will allow the struggling teen accessories retailer to worry about holiday sales rather than its heavy debt, at least for now.
By Daphne Howland • Sept. 21, 2016 -
Macy's holiday hiring plans hold flat, omnichannel gets boost
The company will fill about 83,000 positions at Macy’s and Bloomingdale’s stores, with an emphasis on supporting its online and omnichannel fulfillment operations.
By Daphne Howland • Sept. 21, 2016 -
Ascena plummets on sales miss
Shares of the women's apparel retailer plunged 24% in pre-market trading Tuesday, nearing a 7.5-year low.
By Daphne Howland • Sept. 20, 2016 -
Costco faces lawsuit over improper sales tax collection
The class-action suit alleges that the warehouse retailer is illegally charging sales tax on toilet tissues, a product exempt New Jersey's tax collection guidelines.
By Daphne Howland • Sept. 19, 2016 -
Athletic brands suffer as Golfsmith proceeds in Chapter 11
The bankrupt retailer owes between $100 million and $500 million to some of the world's most notable sports brands, including Nike, Under Armour and Callaway.
By Daphne Howland • Sept. 19, 2016 -
Report: Sears to shut more Kmart stores in 13 states
Using information from store employees and financial filings, Business Insider has pinpointed additional Kmart locations that are expected to shutter before year's end.
By Daphne Howland • Sept. 19, 2016 -
Aeropostale landlords slash rents, 400 stores to remain open
Rents will be reduced at 171 North American Aeropostale stores, saving about 5,300 jobs.
By Daphne Howland • Sept. 19, 2016 -
Report: Unilever in talks to acquire Honest Co.
In the current investment climate, the "eco-friendly" consumer products retailer co-founded by Jessica Alba may take the $1 billion deal, despite the hit to its recent valuation.
By Daphne Howland • Sept. 16, 2016 -
Dollar General hiring 10K new workers over next month
The discount retailer plans to open about 1,000 new stores over the course of fiscal 2017.
By Daphne Howland • Sept. 16, 2016 -
Target's turnaround emphasizes omnichannel, in-store efforts
Facing a surprise slump, the retailer is getting assertive in grocery, pricing and omnichannel.
By Daphne Howland • Sept. 16, 2016 -
August retail sales suffer surprise drop
Retail sales fell 0.3% since July, the first decline in five months, the Department of Commerce reports.
By Daphne Howland • Sept. 15, 2016 -
Deep Dive
Will Lands' End sink or swim on Amazon?
Struggling Lands’ End has agreed to sell selected apparel via Amazon. Eight retail experts share their perspectives on the potential risks and rewards.
By Jason Ankeny • Sept. 15, 2016 -
Welspun faces class-action lawsuit over mislabeled cotton
A group of consumers alleges the Indian supplier misrepresented the cotton used in its bed sheets and towels, and that retailers have failed to deliver an adequate response.
By Daphne Howland • Sept. 15, 2016 -
Target opening hundreds of small-format stores
CEO Brian Cornell said the locations will offer an assortment of product mixes customized according to the demographics of local neighborhoods and serve as pickup stations for online orders.
By Daphne Howland • Sept. 15, 2016 -
UPDATE: Golfsmith files for Chapter 11
The Texas chain, hobbled by debt in a leveraged acquisition in 2012 as interest in golf began to seriously wane, filed for bankruptcy Wednesday.
By Daphne Howland • Sept. 14, 2016 -
Tiffany taps industry outsider Erceg as CFO
Mark Erceg, the former CFO of Canadian Pacific Railway, has no experience in luxury retail, but that shouldn’t derail him if his hire is a good fit, say analysts.
By Daphne Howland • Sept. 14, 2016 -
Struggling Nasty Gal reportedly seeks buyer
The edgy e-commerce retailer has struggled to come of age, and sources told Women's Wear Daily it's in desperate need of capital.
By Daphne Howland • Sept. 14, 2016 -
Alibaba buys biometric authentication startup EyeVerify
Forget traditional passcodes, EyeVerify's EyePrint ID technology authenticates shopper identities through eye-vein patterns.
By Dan O'Shea • Sept. 13, 2016 -
Court approves Aeropostale sale, thousands of jobs spared
Aeropostale has defied the odds and many observers’ expectations, and 229 stores may be saved as a result.
By Daphne Howland • Sept. 13, 2016 -
Ikea focuses on click-and-collect locations
The Swedish furniture retailer reported a 30% boost in digital sales in fiscal 2016, far surpassing previous years.
By Daphne Howland • Sept. 13, 2016 -
Target hiring more than 75K seasonal workers ahead of holidays
Outplacement firm Challenger, Gray and Christmas anticipates that 2016 seasonal retailer hiring will hold steady in comparison with last year.
By Daphne Howland • Sept. 13, 2016 -
Report: Amazon poised to launch 100 pop-ups in US malls
The effort is separate from the full-line bookstores in Seattle and planned for other cities, but shares the same aim: showcasing Amazon’s devices and reaching shoppers across more channels.
By Daphne Howland • Sept. 12, 2016