Financial News: Page 4
-
Jessica Alba to step down as chief creative officer of The Honest Company
The founder, who remains a board member, moves on as the brand’s leadership says recent turnaround efforts are working.
By Nate Delesline III • April 10, 2024 -
Macy’s shakes up board, avoids proxy fight
The department store has also opened its books to the real estate-minded investors who have bid $6.6 billion to take it over.
By Daphne Howland • April 10, 2024 -
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 -
Allbirds receives delisting warning from Nasdaq
The footwear brand’s stock traded at less than $1 for 30 consecutive days and the company has until Sept. 30 to regain compliance.
By Cara Salpini • April 9, 2024 -
J.C. Penney shutters 50-year-old anchor, moves across the street
The new location is at the Willowbrook Mall in New Jersey, which is owned by the department store’s co-owner, Brookfield Properties.
By Daphne Howland • April 9, 2024 -
99 Cents Only files for Chapter 11
The bankruptcy filing comes just days after the discount retailer announced plans to liquidate and close all stores.
By Nate Delesline III • April 8, 2024 -
Petco faces downgrades amid sales, profit and share declines
Analysts from S&P Global Ratings and Bank of America said the pet retailer’s struggles are likely to continue this year and possibly into 2025.
By Daphne Howland • April 8, 2024 -
99 Cents Only to liquidate
The company’s small footprint left it unable to compete with larger rivals in a tough macroeconomic environment, according to industry experts.
By Nate Delesline III • April 5, 2024 -
Column
The Weekly Closeout: Puma plots design space in LA, Bank of America downgrades Figs
The athletics brand said the studio will open in 2025, while spending pullbacks contributed to the scrubs brand’s recent negative rating.
By Retail Dive Staff • April 5, 2024 -
FullBeauty Brands acquires plus marketplace Dia & Co.
Within the past year the company also purchased Eloquii and Cuup, expanding its portfolio of plus and size-inclusive labels.
By Tatiana Walk-Morris • April 4, 2024 -
Shoes for Crews files for Chapter 11 bankruptcy
The non-slip shoe company secured $30 million in debtor-in-possession financing and intends to sell the business.
By Nate Delesline III • April 4, 2024 -
Levi’s gains momentum as Beyoncé name-checks the brand on her new album
Despite Q1 revenue declines and a net loss, the denim maker noted strength in the U.S., its largest market, and other reasons for optimism.
By Daphne Howland • April 4, 2024 -
L’Occitane sells Grown Alchemist 2 years after acquiring the brand
André Hoffmann, L’Occitane Group’s former CEO and vice chairman, has bought a controlling majority stake in the skin care brand for 28 million euros.
By Caroline Jansen • April 3, 2024 -
Tupperware flags accounting strains in late 10-K notice
The notice comes roughly five months after the brand said its former independent auditor PricewaterhouseCoopers declined to be re-appointed.
By Maura Webber Sadovi • April 2, 2024 -
Boardriders to lay off more than 600 by the end of April
The cuts include C-suite execs and bring the total affected in California to nearly 700 since the company was acquired by Authentic Brands Group.
By Laurel Deppen • April 2, 2024 -
Guess announces $200M share repurchase program
The board also approved the restructuring of its debt — the third time the apparel retailer has taken such move in 12 months.
By Nate Delesline III • April 1, 2024 -
Lands’ End lays off 10% of corporate workforce
Most of those layoffs came in January, though some were the result of earlier changes to the retailer's sourcing organization.
By Nate Delesline III • March 29, 2024 -
Despite last year’s declines, Torrid could grab more market share
The plus-size leader faces ongoing reluctance to spend on discretionary goods, but has inventory control and other strengths on its side.
By Daphne Howland • March 29, 2024 -
H&M Group plans to invest more in physical stores, including refurbishing 250 globally
The fast-fashion company has been shuttering hundreds of locations and growing its e-commerce, but said the pace of closures will slow this year.
By Daphne Howland • March 28, 2024 -
E-commerce deal count fell more than 50% in 2023: PitchBook
Even as trends improved in the back half of the year, overall deal count and value fell last year compared to 2022.
By Howard Ruben • March 27, 2024 -
GameStop cuts undisclosed number of jobs as Q4, full-year sales fall
As pressure mounts on the sector from declining hardware sales and rising streaming subscriptions, analysts question the retailer’s long-term survival.
By Nate Delesline III • March 27, 2024 -
Canada Goose cuts corporate workforce by 17%, shakes up executive roles
As part of a DTC focus, the brand said about a year ago that it would double its footprint within five years, but some analysts anticipate that slowing.
By Daphne Howland • March 26, 2024 -
Academy Sports and Outdoors plans up to 180 store openings over the next five years
The retailer said it sees a long-term potential to operate over 800 stores nationwide.
By Nate Delesline III • March 26, 2024 -
Lalo secures equity investment round
The round, led by consumer venture group Forecast Labs, will be used to boost sales and explore growth opportunities in retail.
By Howard Ruben • March 26, 2024 -
Destination XL to open 9 stores this year
The company also has plans for future locations as it builds out a strategy to meet customers where they live, according to CEO Harvey Kanter.
By Tatiana Walk-Morris • March 25, 2024 -
Target doubles bonuses for salaried employees
The move comes as competitors, namely Walmart, sweeten their benefits.
By Nate Delesline III • March 22, 2024