Financial News: Page 311
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UPDATE: Sports Authority to close all US stores after failing to find buyer
The company had around 14,500 employees working in its 450-plus stores at the time of its bankruptcy in March.
By Daphne Howland • May 18, 2016 -
Target poaches chief merchandising officer from Nordstrom
Under Mark Tritton, Nordstrom doubled its private-label business.
By Daphne Howland • May 18, 2016 -
Deep Dive
Was the FTC wrong to block the Staples-Office Depot merger? 8 experts weigh in
The FTC argued the combined company would be a monopolistic presence in the B2B office supplies market. Many retail experts disagree.
By Kelsey Lindsey • May 17, 2016 -
TJX avoids apparel retail woes, crushes expectations
The off-price leader continues to stand alone in the apparel retail space, seeing healthy traffic and sales whatever the weather.
By Daphne Howland • May 17, 2016 -
Office Depot CEO: 'Bold new action' needed after failed merger
The retailer detailed some of its options after its failed merger with rival Staples, including trimming its European operations and possible acquisitions.
By Daphne Howland • May 17, 2016 -
Home Depot beats expectations amid hot housing spending
The topsy-turvy weather that has hurt apparel retailers in the quarter is only helping the home improvement retailer.
By Daphne Howland • May 17, 2016 -
Ron Johnson's electronics marketplace Enjoy plots expansion into new US markets
The consumer electronics delivery and concierge startup will roll out in cities including Dallas, Houston and Miami over the next several months, Johnson said at the Shoptalk conference.
By Jason Ankeny • May 16, 2016 -
Report: Amazon expanding private-label brands to include food, diapers
Already doing well with its own tech accessories and other baby products, the e-retail giant is now moving into new categories.
By Daphne Howland • May 16, 2016 -
Nordstrom doubles down on cost-cutting following dismal earnings
Continued soft traffic and sales surprised the retailer as it looks to move apparel at top prices.
By Daphne Howland • May 16, 2016 -
Anti-counterfeit group suspends Alibaba after member outcry
Tiffany & Co. was the latest member of the International AntiCounterfeiting Coalition to leave over the inclusion of what they say is their “biggest adversary” in sales of fakes.
By Daphne Howland • May 16, 2016 -
J.C. Penney shares plummet on unexpected sales drop
Same-store sales fell 0.4% in the retailer's first quarter, compared to an expected gain of 3.2%.
By Daphne Howland • May 13, 2016 -
Retail sales grew 1.3% in April, the largest jump in a year
Spending increases were across multiple categories, but many retailers in apparel will still likely struggle to attract customers.
By Daphne Howland • May 13, 2016 -
Nordstrom stock tumbles 17% after disappointing earnings
With yet another worst-than-expected quarter, the retailer cut its financial forecast for the year after warning about slowing sales.
By Daphne Howland • May 13, 2016 -
Analyst: One-third of malls will shutter in upcoming years
One in three malls and, for some retailers, a half of existing stores will have to close as consumers move online.
By Daphne Howland • May 13, 2016 -
Aeropostale settles heated dispute with clothing supplier
Aeropostale claimed that its terms with MGF Sourcing in part forced the retailer into bankruptcy.
By Daphne Howland • May 13, 2016 -
Deep Dive
Do or die: How retailers can innovate in an age of disruption
Pretty much everyone agrees the traditional retail model needs to change—how to do so is another matter.
By Kelsey Lindsey • May 12, 2016 -
Deep Dive
Retail Therapy: A Reese's miracle, the Minnie Mouse fashion trend and $15,000 sex toys
Among other retail oddities, Gwyneth Paltrow's lifestyle/e-commerce site is now peddling pricey sex toys for the bored (and rich).
By Kelsey Lindsey • May 12, 2016 -
Kohl's profit sinks 87% on unexpected sales decline
Overall sales fell 3.7% in Q1 to $3.97 billion, Kohl's first drop in six quarters.
By Daphne Howland • May 12, 2016 -
Cowen: 'More confident' Amazon will topple Macy's apparel sales by 2017
Cowen & Co.'s John Blackledge calculates that Amazon's share of the U.S. apparel and accessories market has grown from 5% to 14% over the last year.
By Daphne Howland • May 12, 2016 -
Sears surprises with plans for smaller stores
The ailing retailer has been on its last legs for years, but CEO Eddie Lampert said it’s not done trying new things.
By Daphne Howland • May 12, 2016 -
Macy's slashes outlook, shares plummet
Sales and revenue beat expectations, but investors balked when Macy's lowered its fiscal year guidance.
By Daphne Howland • May 11, 2016 -
Lumber Liquidators sinks on disappointing Q1
A year after the '60 Minutes' report that set its struggles into motion, the embattled flooring retailer continues to stumble.
By Daphne Howland • May 11, 2016 -
Report: Sports Authority reorganization hopes dwindle as Modell's backs away
With bids due Wednesday, liquidation appears to be the most lucrative and most likely scenario facing the bankrupt sporting goods retailer.
By Daphne Howland • May 11, 2016 -
Wal-Mart sues Visa over chip-and-PIN security
Wal-Mart alleges that Visa is forcing stores to allow customers to use a signature in EMV transactions.
By Daphne Howland • May 11, 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
UPDATED: Judge rules against Staples-Office Depot, ending merger deal
More than a year after Staples agreed to acquire Office Depot, a U.S. District Court Judge on Tuesday granted the Federal Trade Commission's request to halt the deal.
By Jason Ankeny • May 10, 2016