The Weekly Closeout: Petco swings to a loss and Ace Hardware plans 170 stores this year

The pet retailer reported its 19th consecutive quarter of comp growth, while the hardware cooperative has already opened 100 of its planned stores.

By Retail Dive Staff • Aug. 25, 2023

Ulta says locked fragrance cabinets are helping sales

The cases, which are in about half of the beauty retailer’s stores, are reducing theft and keeping product in stock.

By Cara Salpini • Aug. 25, 2023

Nordstrom pushes ahead with Rack expansion despite declines

Credit card delinquencies are up and prospects for the holiday quarter are hazy, executives said on Thursday.

By Daphne Howland • Aug. 25, 2023

Forever 21 and Shein strike deal to distribute both companies’ products

Under the agreement, the Sparc Group will become a minority shareholder in Shein.

By Laurel Deppen • Aug. 24, 2023

Dollar Tree agrees to $1.35M OSHA penalty over store safety violations

The discounter's Q2 revenue rose, but profits are down amid adjustments to operations at its namesake and Family Dollar banners.

By Daphne Howland • Aug. 24, 2023

Ghost raises $30M to help brands, retailers move surplus inventory

The members-only B2B marketplace allows sellers to monetize their surplus inventory to vetted buyers. 

By Tatiana Walk-Morris • Aug. 24, 2023

Bath & Body Works loyalty members now make up 75% of US sales

The program has ballooned to 38 million members in one year. The retailer also opened 30 new off-mall stores in Q2 as it looks for growth.

By Nate Delesline III • Aug. 23, 2023

Kohl’s Q2 profits plunge 60%

Tight cost control helped keep the department store in the black. But sales fell and customers remain under pressure.

By Daphne Howland • Aug. 23, 2023

Peloton recall dings growth in Q4

The company — which saw revenue decline 5% year over year — experienced larger-than-anticipated costs after enacting a bike seat post recall in May.

By Dani James • Aug. 23, 2023

Foot Locker sales fall nearly 10% as it weathers ‘tougher than expected’ year

CEO Mary Dillon said the start of the back-to-school season was weaker than expected as lower-income shoppers stay cautious.

By Cara Salpini • Aug. 23, 2023

Lowe’s to give $100M in bonuses to frontline workers

The home improvement retailer is maintaining its full-year guidance after it beat earnings expectations.

By Nate Delesline III • Aug. 22, 2023

Macy’s swings to a loss in Q2 as consumer situation deteriorates

Credit card delinquencies took an $84 million bite out of revenue, but sales fell in stores and online as well.

By Daphne Howland • Aug. 22, 2023

Dick’s cuts jobs as theft takes a bite out of profit

The athletics retailer rolled out a business optimization plan to streamline its cost structure, while executives called theft an “increasingly serious issue.”

By Cara Salpini • Aug. 22, 2023

Boxed acquired by MSG Distributors

The regional distributor of consumables and household products said it will work to continue serving Boxed’s customers, vendors and brands.

By Peyton Bigora • Aug. 22, 2023

DTC’s Q2 was a mixed bag as holidays approach

Some brands swam while others drowned in a period that saw everything from major executive changes to falling sales.

By Caroline Jansen , Dani James • Aug. 21, 2023

The Weekly Closeout: Target faces ESG lawsuit, BeautyStat names chief marketing officer

The suit filed by a Target stockholder alleges that the retailer misled shareholders over the effect its ESG efforts would have on its performance.

By Retail Dive Staff • Aug. 18, 2023

Christmas Tree Shops to liquidate under Chapter 7

The retailer’s bankruptcy was converted from Chapter 11 this week, with the judge stepping in to prioritize paying store employee wages.

By Daphne Howland • Aug. 18, 2023

Bark approves share repurchase program of up to $7.5M

The pet care brand's long-term debt reached $81.4 million in Q1 and revenue declined 8% year over year. 

By Dani James • Aug. 18, 2023

Express plans layoffs, reverse stock split

The apparel retailer, which is cutting 150 jobs, said it continues to take action to improve long-term growth.

By Nate Delesline III • Aug. 18, 2023

Walmart raises guidance after solid Q2

Consumers continue to rely on the retailer for essentials but its CEO sees opportunity to drive discretionary buys.

By Nate Delesline III • Aug. 17, 2023

RadioShack under new ownership again

Unicomer Group has taken over from Retail Ecommerce Ventures, which first acquired the retailer's IP in 2020.

By Daphne Howland • Aug. 17, 2023

Digital Brands Group reports Q2 net income

The company — which boasts a portfolio including Sundry and Stateside — swung from a net loss of $10.6 million the year before. 

By Dani James • Aug. 17, 2023

Target’s Q2 profits beat expectations despite soft sales

The retailer also acknowledged controversy over its Pride month assortment affected performance.

By Nate Delesline III • Aug. 16, 2023

HomeGoods owner gets a boost from Bed Bath & Beyond closures

But the robust apparel sales at TJX Cos.’ T.J. Maxx and Marshalls stores could be undermined once student loan payments resume, analysts said.

By Daphne Howland • Aug. 16, 2023

What Gap Inc. needs from its new CEO

Longtime Mattel executive Richard Dickson is taking the reins of an apparel conglomerate — whose brands all need some help.

By Daphne Howland • Aug. 16, 2023