Financial News: Page
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Struggling Nasty Gal reportedly seeks buyer
The edgy e-commerce retailer has struggled to come of age, and sources told Women's Wear Daily it's in desperate need of capital.
By Daphne Howland • Sept. 14, 2016 -
Alibaba buys biometric authentication startup EyeVerify
Forget traditional passcodes, EyeVerify's EyePrint ID technology authenticates shopper identities through eye-vein patterns.
By Dan O'Shea • Sept. 13, 2016 -
Court approves Aeropostale sale, thousands of jobs spared
Aeropostale has defied the odds and many observers’ expectations, and 229 stores may be saved as a result.
By Daphne Howland • Sept. 13, 2016 -
Ikea focuses on click-and-collect locations
The Swedish furniture retailer reported a 30% boost in digital sales in fiscal 2016, far surpassing previous years.
By Daphne Howland • Sept. 13, 2016 -
Target hiring more than 75K seasonal workers ahead of holidays
Outplacement firm Challenger, Gray and Christmas anticipates that 2016 seasonal retailer hiring will hold steady in comparison with last year.
By Daphne Howland • Sept. 13, 2016 -
Report: Amazon poised to launch 100 pop-ups in US malls
The effort is separate from the full-line bookstores in Seattle and planned for other cities, but shares the same aim: showcasing Amazon’s devices and reaching shoppers across more channels.
By Daphne Howland • Sept. 12, 2016 -
Walgreens may close up to 1,000 stores to seal Rite Aid deal
Walgreens previously said it expected to shutter just 500 locations to assuage the Federal Trade Commission’s antirust concerns.
By Daphne Howland • Sept. 9, 2016 -
Macy's adding Apple store-in-store, expanding Starbucks concessions
The embattled department store retailer also opened the possibility of adding restaurants offering beer and wine in some locations.
By Daphne Howland • Sept. 9, 2016 -
Kohl's adds American Girl dolls ahead of the holidays
The popular doll brand is venturing into outside retailer stores for the first time, selling at Kohl's and Toys R Us.
By Daphne Howland • Sept. 9, 2016 -
Restoration Hardware beats expectations, but same-store sales dip
The upscale furniture retailer's fledgling RH Grey Card premium loyalty program has yet to pay off.
By Daphne Howland • Sept. 9, 2016 -
MasterCard sued for record $19B in UK over swipe fees
The class action lawsuit is based on allegations that MasterCard charged retailers excessive interchange fees which were then passed on to customers in the form of higher prices.
By Dan O'Shea • Sept. 8, 2016 -
Barnes & Noble skids on sales slip
The retailer said a “challenging retail environment” will dampen full-year results.
By Daphne Howland • Sept. 8, 2016 -
Pier 1 CEO stepping down after holiday season
Alex Smith boosted the home furnishings and decor retailer's e-commerce business, but his turnaround efforts have given way to continued sales struggles.
By Daphne Howland • Sept. 8, 2016 -
Target dedicating store staff to address grocery struggles
Designated employees will work exclusively in grocery sections and receive special training to deal with packaged and fresh food.
By Daphne Howland • Sept. 8, 2016 -
Hundreds of retailers urge Congress to preserve swipe fee regulations
The so-called “Durbin Amendment” to the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act limits the fees that credit card companies can charge for transactions through retailer point-of-sale systems.
By Daphne Howland • Sept. 7, 2016 -
Officials: Gap warehouse fire 'incendiary in nature'
The retailer's Fishkill distribution complex, which represents 10% of its nationwide warehouse capacity, was intentionally set on fire on Aug. 29.
By Daphne Howland • Sept. 7, 2016 -
Hudson's Bay sales rise 60% on European expansion, Gilt acquisition
The Saks Fifth Avenue parent nevertheless said that fiscal year 2016 sales would "trend towards the bottom end" of its previously estimated range.
By Daphne Howland • Sept. 7, 2016 -
Reorganized Pacific Sunwear exits bankruptcy on firmer ground
Private equity firm Golden Gate Capital will own the teen apparel retailer and help guide its turnaround.
By Daphne Howland • Sept. 7, 2016 -
Amazon exempting existing sellers from new brand gating fees
Charges implemented to curb sales of counterfeits on Amazon Marketplace apply only to new sellers of certain brands, the e-commerce giant said.
By Daphne Howland • Sept. 6, 2016 -
Report: Amazon lands one of eBay's top AI execs
Hassan Sawaf set up eBay's cognitive computing group and led its efforts to enable context translations for shoppers searching in foreign languages.
By Dan O'Shea • Sept. 5, 2016 -
Report: US job growth slows in August, retail holds steady
Wage gains slipped in August, but are outpacing inflation, which could benefit retail sales.
By Daphne Howland • Sept. 2, 2016 -
Aeropostale back from the brink after $243M consortium bid wins auction
Landlords, liquidators and a licensing company combined to beat back a bid from PE firm Sycamore Partners, whose liquidation plans would have doomed the teen apparel retailer to the scrap heap of history.
By Daphne Howland • Sept. 2, 2016 -
Lululemon falls on muted outlook, shrinking athleisure demand
The athletic apparel retailer posted strong Q2 revenue and sales, but investors see trouble ahead in the athleisure category it pioneered.
By Daphne Howland • Sept. 2, 2016 -
Wal-Mart slashes 7,000 back office jobs
The accounting and invoicing positions on the chopping block are held primarily by long-term employees who are among the retail giant’s highest-paid hourly workers.
By Jason Ankeny • Sept. 1, 2016 -
Costco shares fall after same-store sales flatten
But an uptick in August traffic is encouraging, especially considering the warehouse retailer's ongoing credit card rollout debacle.
By Daphne Howland • Sept. 1, 2016