Financial News: Page
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Embattled Rue21 replaces CEO Fisch
Longtime CFO Keith McDonough will take over as interim CEO while the teen apparel retailer's board of directors searches for a permanent replacement.
By Daphne Howland • Oct. 3, 2016 -
UPDATE: Bass Pro Shops acquires Cabela's for $5.5B
The deal will likely invite antitrust scrutiny from the Federal Trade Commission, considering the dominance of both retailers in the outdoor and sporting goods space.
By Daphne Howland • Oct. 3, 2016 -
Trendline
The direct-to-consumer landscape in retail
More mature brands are pursuing exit strategies and expanding their reach, while traditional retailers are increasingly shifting to a DTC model.
By Retail Dive staff -
"H&M Canal City Hakata shop in Canal City Hakata East Building at Fukuoka,Japan" by Nissy-KITAQ is licensed under CC BY-SA 3.0
H&M warns disappointing sales could extend into Q4
The fast-fashion retailer blamed quarterly profit declines on the strong dollar and increased discounts forced by hotter-than-expected weather.
By Daphne Howland • Sept. 30, 2016 -
American Eagle Outfitters taps retail veteran as permanent CFO
Bob Madore will leave his post as CFO of Ralph Lauren to continue the retailer's turnaround plan, seen as one of the biggest teen apparel success stories.
By Daphne Howland • Sept. 30, 2016 -
Supreme Court to hear credit card swipe fees fight
At issue are the fees that credit and debit card issuers impose on payments, which retailers argue are ultimately passed on to customers in the form of higher prices.
By Daphne Howland • Sept. 30, 2016 -
Report: Bids for Cabela's expected by week's end
Rival Bass Pro Shops is a part of one group hoping to acquire the outdoor retailer's lucrative credit card business.
By Daphne Howland • Sept. 30, 2016 -
Costco beats expectations, boosted by switch to Visa
The warehouse retailer beat back challenges like falling food and fuel prices to post profits of $779 million, up from $767 million in the year-ago period.
By Daphne Howland • Sept. 30, 2016 -
Target launches new website for tech startup pitches
The new web portal promises to help emerging companies more effectively communicate their concepts to the retail giant.
By Dan O'Shea • Sept. 29, 2016 -
Pier 1 swings to Q2 loss, hedge fund blasts poison pill measure
Alden Global Capital, which recently revealed a 9.5% stake in the struggling retailer, called its new shareholder rights plan “a nonsensical scare tactic.”
By Daphne Howland • Sept. 29, 2016 -
Report: American Apparel actively seeking buyer
Investment bank Houlihan Lokey has been hired to explore a sale and investor Ron Burkle’s Yucaipa Cos. has probed the embattled retailer's finances, according to reports.
By Daphne Howland • Sept. 29, 2016 -
Target taps AddStructure to pilot Amazon Alexa voice search rival
Natural language processing startup AddStructure was one of 10 startups chosen in June to participate in the retailer's Target + TechStars accelerator program.
By Dan O'Shea • Sept. 28, 2016 -
Report: Amazon Echo to use streaming music as loss leader
In a potential bid to move more Echo devices for the holidays, the company is undercutting the market with a subscription of $5 a month.
By David Kirkpatrick • Sept. 28, 2016 -
Target pharmacy customers clamor for return of clear drug labels after CVS takeover
Although CVS picked up Target’s innovative medication label and bottle design when it acquired the retailer’s pharmacy operations, it has abandoned the approach — to the chagrin of many customers.
By Daphne Howland • Sept. 28, 2016 -
Nike earnings beat expectations but shares fall on bloated inventories
Analysts skeptical of Nike’s summertime report of an inventory draw-down were vindicated by its first quarter results.
By Daphne Howland • Sept. 28, 2016 -
Deep Dive
Why Macy's store closure plans may just be the tip of the iceberg
A decade ago Macy's went on a buying spree, acquiring pockets of regional department stores and growing to nearly 1,000 stores nationwide. Now it's on a mission to downsize in a big way.
By Daphne Howland • Sept. 28, 2016 -
Neiman Marcus store sales drop for fourth straight quarter
The luxury department store attributed the declines to a challenging retail environment, a strong dollar and the growing demand for fast fashion.
By Daphne Howland • Sept. 27, 2016 -
UPDATED: Lands' End CEO Federica Marchionni resigns
Lands' End chief Federica Marchionni has resigned her post, effective immediately, the outdoor apparel retailer announced Monday morning.
By Jason Ankeny • Sept. 26, 2016 -
Online grocer FreshDirect snags $189M in funding round
The grocery delivery space is highly competitive and fraught with logistical challenges, but investors believe FreshDirect can fulfill its potential.
By Daphne Howland • Sept. 26, 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 permanently installs Shira Goodman as CEO
Goodman was previously named interim CEO following longtime chief Ron Sargent's mid-year resignation.
By Daphne Howland • Sept. 26, 2016 -
Office Depot sells European business to Aurelius Group
The office supplies retailer continues to implement the strategic plan it finalized in the aftermath of its failed merger with rival Staples.
By Daphne Howland • Sept. 26, 2016 -
West Elm to open boutique hotels, sell furnishings online
The hotel rooms and common areas will incorporate design elements from their local communities, and guests will also be able to purchase furniture and artwork.
By Daphne Howland • Sept. 26, 2016 -
Target ends kiddie shopping carts trial after chaos erupts
The pilot ended after just a few weeks of testing based on criticism in stores and across social media from parents as well as other shoppers.
By Daphne Howland • Sept. 23, 2016 -
Nordstrom shakes up executive ranks to boost e-commerce
Longtime EVP of strategy and development Ken Worzel has been promoted to president of the Nordstrom.com unit, and siblings/co-presidents Erik, Blake and Pete Nordstrom have also changed up their duties.
By Daphne Howland • Sept. 23, 2016 -
Elf Beauty plans brick-and-mortar expansion after $114M IPO
Shares of the cosmetics company soared 56% Thursday from its opening price on the New York Stock Exchange.
By Daphne Howland • Sept. 23, 2016 -
Report: American Apparel CEO Schneider stepping down
Paula Schneider, who took over for the retailer's controversial founder Dov Charney in late 2014, will depart her post on Oct. 3.
By Daphne Howland • Sept. 22, 2016