Financial News: Page 372
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UPDATE: Consumer safety watchdog looking into Lumber Liquidators
The Consumer Product Safety Commission confirmed that it has requested the test results of a damning journalism report by 60 Minutes, which sent the retailer's stock into an even deeper dive.
By Daphne Howland • March 10, 2015 -
Barnes & Noble invests in online study vendor Flashnotes
The investment makes good on the bookseller’s announcement last month that it would spin off and expand its collegiate business.
By Daphne Howland • March 10, 2015 -
Cache to close all stores
After filing for Chapter 11 bankruptcy protection early last month, the women’s apparel retailer said it will end its business operations entirely.
By Daphne Howland • March 10, 2015 -
PetSmart to go private
Investors approved the $8.7 billion bid from London-based private equity firm BC Partners.
By Daphne Howland • March 10, 2015 -
Urban Outfitters beats estimates with Q4 sales increase
The Philadelphia-based apparel retailer saw the first same-store sales increase for its namesake brand in three quarters.
By Daphne Howland • March 10, 2015 -
Retrieved from Apple on March 10, 2015
Apple event unveils new products, Apple Pay numbers
Along with disclosing that Apple Pay is now accepted at 700,000 locations, CEO Tim Cook also introduced a new MacBook and the highly-anticipated Watch.
By Kelsey Lindsey • March 9, 2015 -
Simon Property Group makes $16B bid for Macerich
The deal would join No. 1 mall owner Simon with No. 3 mall owner Macerich.
By Kelsey Lindsey • March 9, 2015 -
Deliv hires former eBay product exec
The hire of eBay's VP of product Kenny Pate comes as same-day delivery startup Deliv continues to expand.
By Daphne Howland • March 9, 2015 -
Union organizers pressure Costco over suppliers' working conditions
The retailer has a stellar reputation for its treatment of workers—and at a Sunday protest, workers said that’s why it should stop stocking certain products.
By Daphne Howland • March 9, 2015 -
Triple Five Group plans to build largest mall in the US
The project slated for pastureland around Miami will cost $4 billion and employ 25,000 people once it is open.
By Daphne Howland • March 9, 2015 -
Former Crate & Barrel president joins Interior Define
Marte Calle left Crate and Barrel last July amidst a shake-up at the Chicago-based retailer of furniture and home goods.
By Daphne Howland • March 9, 2015 -
February sees 24K new retail jobs
The gains came despite challenges presented by severe weather in some parts of the country and slowdowns at West Coast ports. But wages remain somewhat depressed.
By Daphne Howland • March 9, 2015 -
Strong dollar, weak demand hurts Staples in Q4
Meanwhile, the American Postal Workers Union (APWU) announced Friday that it’s working with the AFL-CIO to challenge Staples' merger with Office Depot.
By Daphne Howland • March 6, 2015 -
American Apparel worker files labor complaint
Dov Charney himself is also reportedly rallying the retailer’s Los Angeles-based factory workers to organize themselves (and support him).
By Daphne Howland • March 6, 2015 -
Sephora launches two-day 'Flash' delivery membership
The cosmetics retailer also announced its new Innovation Lab and the expansion of in-store beacons to all locations.
By Daphne Howland • March 6, 2015 -
Costco beats expectations on profits and sales
The retailer was aided by a tax benefit accruing from a special cash dividend last month, but sales were also up.
By Daphne Howland • March 5, 2015 -
Etsy files for IPO
The online marketplace has been facing something of an existential crisis as it tries to make serious money while still staying true to its quirky self.
By Daphne Howland • March 5, 2015 -
Shipping startup Shyp sharpens returns feature
The first-mile shipping startup noticed that many customers were using its services for returns, and has responded with an app for that.
By Daphne Howland • March 5, 2015 -
Deep Dive
Target: Thinking big going forward
The retailer unveiled a massive restructuring plan earlier this week including a focus on tech, smaller format stores, and rebooting company culture.
By Daphne Howland • March 4, 2015 -
Farfetch receives $86M in latest funding round
The UK-based fashion curating platform, now valued at $1 billion, is proving that Silicon Valley isn't the only place that can attract big techie dollars.
By Daphne Howland • March 4, 2015 -
Abercrombie & Fitch sales drop 14% in Q4
The teen-apparel retailer has been working for months to shift away from its cool-kid, logo-centric image. But it hasn’t come up with its silver bullet yet.
By Daphne Howland • March 4, 2015 -
Uniqlo teams up with former Hermes creative director
Christophe Lemaire is hardly an obvious choice for fast-fashion, but his understated aesthetic should do well at the Fast Retailing company.
By Daphne Howland • March 4, 2015 -
UPDATE: Dick's Sporting Goods reports winning quarter
Winter weather and West Coast port issues didn’t help the retailer much, but Dick's still beat expectations.
By Daphne Howland • March 4, 2015 -
Target to cut 'several thousand' jobs in restructuring plan
The job cuts will come in the next two years as part of the retailer's $2 billion cost savings plan.
By Kelsey Lindsey • March 3, 2015 -
UPDATE: Target to shift grocery, appeal to millennials
The company's grocery department looks like it's soon headed for a makeover.
By David Oliver • March 3, 2015