Financial News: Page 299
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Under Armour plummets after latest Steph Curry shoe sputters
Investors panicked after Foot Locker CEO Richard Johnson said the Curry 3 is off to a slow start.
By Daphne Howland • Nov. 21, 2016 -
Report: The Limited explores restructure, sale
The women’s apparel retailer is struggling amid declining mall traffic and a lack of differentiation in its styles.
By Daphne Howland • Nov. 21, 2016 -
Abercrombie weighing store closures as turnaround stalls
About half of the teen apparel retailer’s 745 flagship leases in the U.S. are up for renewal, but CFO Joanne Crevoiserat told analysts it's being careful about shuttering stores.
By Daphne Howland • Nov. 21, 2016 -
Google Shops set to roll out in Best Buy Canada locations
The stores-within-stores are designed to showcase consumer electronics like the Google Pixel smartphone and also intended to foster a community feeling.
By Dan O'Shea • Nov. 20, 2016 -
Abercrombie warns of challenging holiday season
The retailer reported its 15th straight decline in quarterly sales, causing shares to tumble 15.5% in premarket trading Friday.
By Daphne Howland • Nov. 18, 2016 -
Gap continues slide, bleak holiday expected
“This is a company in a tailspin, with no real clue how to pull out of it,” said retail analyst Neil Saunders.
By Daphne Howland • Nov. 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
Staples struggles on same-store sales, unloads UK business
The office supplies retailer also closed 16 North American stores during the third quarter as part of a plan to close at least 50 locations this year.
By Daphne Howland • Nov. 18, 2016 -
Struggling J. Crew reportedly mulls spinoff of successful Madewell brand
The proposition could culminate in a sale and deprive the company and its lenders of the source of its best growth.
By Daphne Howland • Nov. 17, 2016 -
Best Buy soars on store traffic gains, e-commerce growth
The electronics retailer has pivoted from its emphasis on cost-cutting, but product recalls and a dearth of inventory of in-demand products could hurt at the holidays.
By Daphne Howland • Nov. 17, 2016 -
Wal-Mart revenue fizzles as e-commerce, wage costs rise
But the retail giant’s 20.6% growth in online sales has analysts sanguine about its long-term prospects.
By Daphne Howland • Nov. 17, 2016 -
Neiman Marcus, Rent the Runway pair up in stores
The struggling department store chain is opening its doors to haute couture rental boutiques in an effort to attract new customers, including younger ones.
By Daphne Howland • Nov. 17, 2016 -
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