Financial News: Page 302
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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 -
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