Financial News: Page 311
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VF unloads struggling contemporary brands unit for $120m
Israeli apparel company Delta Galil will acquire 7 for All Mankind, Splendid, and Ella Moss in what looks to be a win-win deal.
By Daphne Howland • July 1, 2016 -
California lawmaker withdraws bill to end 'pink tax' retail pricing disparity
Retailers and manufactures had opposed California state Sen. Ben Hueso's bill, which sought to block stores from charging more for products marketed for women and girls.
By Daphne Howland • July 1, 2016 -
Court rejects Visa, MasterCard swipe-fee settlement with retailers
The NRF applauded the move, saying the deal "failed to represent the interests of retailers."
By Dan O'Shea • June 30, 2016 -
Belk CEO to retire, with Hot Topic head taking the reins
Sycamore Partners is bringing in Lisa Harper to replace Tim Belk, the last family member to lead the Southern department store.
By Daphne Howland • June 30, 2016 -
Consumer spending continues to rise, for now
Advances in spending and income bodes well for the economy, though Brexit and other uncertainties could spell trouble ahead.
By Daphne Howland • June 30, 2016 -
Report: Wal-Mart/JD.com deal includes incentives to deepen partnership
Provisions in the sale of Wal-Mart's Chinese e-commerce platform Yihaodian allow the U.S. retail giant to increase its stake in JD.com from 5% to 10% and gain observer status at JD board meetings.
By Daphne Howland • June 30, 2016 -
Deep Dive
Is Macy's new CEO Jeff Gennette the right man for the job?
Longtime Macy's chief Terry Lundgren is stepping down, and handpicked successor Jeff Gennette is stepping in. Only time will tell if he can reinvent the retailer for today's omnichannel world.
By Jason Ankeny • June 29, 2016 -
Adidas expands Kanye West partnership with branded stores
The German sportswear maker describes the deal as "the most significant partnership ever created between a non-athlete and an athletic brand."
By Daphne Howland • June 29, 2016 -
Nike stumbles on profit dip, sluggish sales
The athleticwear giant's fiscal fourth quarter revenues increased 6% to $8.2 billion, but profit fell 2% and North American sales flatlined.
By Daphne Howland • June 29, 2016 -
Ikea recalls millions of dressers, chests blamed in child deaths
Six children aged 3 or younger were crushed to death by Ikea furniture and 36 others were injured, according to the U.S. Consumer Product Safety Commission.
By Daphne Howland • June 29, 2016 -
Birchbox trims 12% of staff in second layoffs this year
The subscription retailer’s struggles show what can happen when an upstart company is based on a novel but easily replicable idea.
By Daphne Howland • June 29, 2016 -
Nike shakeup fuels speculation over CEO succession plans
Nike executive Michael Spillane's recent promotion has observers murmuring about potential successors for CEO Mark Parker.
By Daphne Howland • June 28, 2016 -
Wal-Mart Canada promotes Tappenden to CEO
Lee Tappenden replaces Dirk Van den Berghe, who was recently appointed to lead Wal-Mart's China unit.
By Daphne Howland • June 28, 2016 -
Report: Dick's Sporting Goods bids on 17 Sports Authority stores
Expected offers from Academy Sports + Outdoors as well as a rumored partnership between Modell’s and Sports Direct International did not materialize.
By Daphne Howland • June 28, 2016 -
Finish Line beats Q1 expectations, boosted by Adidas sales
Shares of Finish Line rose more than 20% on Friday, its biggest spike in more than seven years.
By Daphne Howland • June 27, 2016 -
Best Buy extends Geek Squad in-home consulting services
The program is just one of several pilot programs the retailer is testing to ramp up its service offerings.
By Daphne Howland • June 27, 2016 -
Aeropostale asks for judge's approval to pay exec bonuses
The embattled teen apparel retailer says it needs the money to pay hard-to-replace workers at a time when it needs to strategize.
By Daphne Howland • June 27, 2016 -
Deep Dive
Retail Therapy: Are all of Lululemon's board members 'for real'?
After news outlet The Street found Lululemon board member Rhoda Pitcher too hard to track down for a story, it caused them to question if she was really "for real." That, and more, in this week's Retail Therapy.
By Kelsey Lindsey • June 24, 2016 -
Advocacy groups demand Wal-Mart withdraw GOP convention support
Making Change at Wal-Mart, which often lobbies the retailer for better pay and working conditions, says it will stage protests if the company doesn’t respond.
By Daphne Howland • June 24, 2016 -
Alibaba founder walks back remarks on superiority of knockoffs
Jack Ma clarified recent remarks, calling counterfeit goods "absolutely unacceptable" and arguing that brands and their intellectual property "must be protected.”
By Daphne Howland • June 24, 2016 -
Barnes & Noble planning beer, wine offerings at new restaurants
The move fits with CEO Ron Boire’s efforts to expand Barnes & Noble’s merchandise mix to include gifts and toys.
By Daphne Howland • June 24, 2016 -
Macy's CEO to resign; successor named
Terry Lundgren, Macy's CEO since 2003, will pass the reins on to current president Jeff Gennette in the first quarter of next year.
By Kelsey Lindsey • June 23, 2016 -
FedEx boosting capital spending to keep up with e-commerce
Although FedEx executives downplayed Amazon’s shipping ambitions, they’re becoming increasingly difficult to ignore.
By Daphne Howland • June 23, 2016 -
Circuit City delaying store, website relaunch 'to get it right'
The revived Circuit City plans to work with Amazon, and not just compete against it, said CEO Ronny Shmoel.
By Daphne Howland • June 23, 2016 -
Instacart cuts cashier hours in NYC, assigns checkout chores to in-store shoppers
Instacart continues to make changes to its online grocery shopping model, but says it is not eliminating the cashier role from its services.
By Dan O'Shea • June 22, 2016