Financial News: Page 297
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Amazon delivers cheaper, limited version of Prime to China
The new service doesn't include digital content streaming and offers free shipping only on foreign products that meet a certain price threshold.
By Dan O'Shea • Oct. 30, 2016 -
GNC CEO bemoans 'badly broken business model'
The embattled nutritional supplement retailer missed expectations for Q3 earnings and sales, posting steep same-store drops.
By Daphne Howland • Oct. 28, 2016 -
Report: Amazon planning as many as 2K grocery stores
Half of the first 20 Amazon Fresh-branded pilot stores will offer minimal 'click-and-collect' grocery pickup services, while the other half will offer more traditional merchandise, services and store layouts.
By Daphne Howland • Oct. 28, 2016 -
UPS expecting record holiday deliveries as e-commerce continues to drive revenue
The shipping company is on pace to deliver more than 700 million packages between Black Friday and New Year’s Eve, up 14% from the same period in 2015.
By Dan O'Shea • Oct. 27, 2016 -
Amazon's shipping ambitions wreak havoc on Q3 results
Amazon reported third quarter net sales of $32.7 billion, up 29%, but surging shipping costs and other expenses resulted in an unexpected profit miss.
By Daphne Howland • Oct. 27, 2016 -
American Apparel reportedly filing for second bankruptcy
A bankruptcy could make the embattled retailer more appealing to a buyer, as it would allow the company to let go of leases and shutter some operations.
By Corinne Ruff • Oct. 27, 2016 -
Cabela's continues to struggle ahead of Bass Pro Shops merger
Net income fell 35% in the third quarter after the outdoor retailer discounted many items to boost sales.
By Daphne Howland • Oct. 27, 2016 -
Apple forecasts tepid holiday season despite Samsung's weakness
The computing giant is projecting sales of $76 billion to $78 billion for the last three months of 2016, further rattling investors already spooked by competition and saturation in the global smartphone market.
By Daphne Howland • Oct. 26, 2016 -
Adidas dethrones Under Armour as No. 2 sports brand in US
The athletic gear retailer staked its comeback strategy on more streetwear and partnerships with creatives like Kanye West.
By Daphne Howland • Oct. 26, 2016 -
Nordstrom CFO Koppel to retire in spring 2017
The department store retailer also shook up its executive ranks last month to boost sales online and off.
By Daphne Howland • Oct. 26, 2016 -
Under Armour lowers forecast, sending shares plummeting
The athletic apparel retailer reported its 26th consecutive quarter of growth above 20%, but shares fell 16% in pre-market trading after executives tempered expectations moving forward.
By Daphne Howland • Oct. 25, 2016 -
Two biggest US mall companies staying open on Thanksgiving
Both Simon Property Group and General Growth Properties will open their doors to holiday shoppers.
By Daphne Howland • Oct. 25, 2016 -
VF disappoints on department store sales, lowers outlook
CEO Eric Wiseman said the company is operating under an "uneven, global economic environment," with especially sluggish conditions in the Americas.
By Daphne Howland • Oct. 25, 2016 -
REI expands #OptOutside campaign, won't open Black Friday
The outdoor retailer is shuttering all 149 of its stores on both Thanksgiving and Black Friday, processing no online sales and paying employees to take those days off and head outdoors instead.
By Daphne Howland • Oct. 24, 2016 -
Target recalls 127,000 Halloween-themed window decorations
No injuries have yet been reported, but customers can return the lights for a full refund, according to the Consumer Product Safety Commission.
By Daphne Howland • Oct. 24, 2016 -
J.C. Penney tests smaller format Sephora concessions
The decade-long partnership has been a success for both retailers, with beauty shop-in-shop locations in around 1,000 of Penney’s U.S. stores.
By Daphne Howland • Oct. 24, 2016 -
Morningstar: Mall investors poised to lose billions as shopping shifts online
The situation is further complicated by new risk-retention rules that will make it more expensive for banks to sell commercial mortgage-backed securities debt.
By Daphne Howland • Oct. 24, 2016 -
Report: Dick's wins Golfsmith's US business with $70M bid in bankruptcy auction
Much of Golfsmith's store footprint will be lost in liquidation, but at least 30 stores will remain open under Dick’s ownership.
By Corinne Ruff • Oct. 21, 2016 -
Rumors of Coach takeover cause Burberry shares to spike
Talk of a deal is once again surfacing, but conflicting reports suggest there may be more smoke than fire.
By Daphne Howland • Oct. 21, 2016 -
Wal-Mart doubles down on Chinese e-commerce with same-day delivery bet
Ahead of Singles Day, the retail giant expanded its Chinese presence with a $50 million investment in grocery and same-day delivery company New Dada.
By Daphne Howland • Oct. 21, 2016 -
Report: Brand licensors interested in buying struggling American Apparel
Authentic Brands Group LLC and Iconix Brand Group Inc. are looking into an acquisition, which could lead the retailer to file for bankruptcy again.
By Daphne Howland • Oct. 21, 2016 -
Target dethrones Wal-Mart as US business using the most solar energy
Retailers like Costco, Kohl's and IKEA also made the list because their big-box retail and warehouse infrastructure is ideal for solar.
By Daphne Howland • Oct. 20, 2016 -
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