Financial News: Page 47

  • Saks Fifth Avenue relaunches its website
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    Courtesy of Saks
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    Saks.com expected to lay off 100, half in tech

    The layoffs affect almost 4% of the luxury retailer’s workforce, which had more than doubled since it separated from the brick-and-mortar operations.

    By • Jan. 20, 2023
  • A cardboard box with a round light-blue logo and the words "Stitch Fix" leans against a bright yellow door.
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    Courtesy of Stitch Fix
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    Column

    The Weekly Closeout: Amazon discontinues charity program, Stitch Fix takes to Twitter for CEO search

    The e-commerce giant is ending its AmazonSmile program after a decade and the styling service is seeking out CEO applicants via social media.

    By Retail Dive Staff • Jan. 20, 2023
  • Nordstrom Rack, at Codding Town, Bend, Oregon
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    Daphne Howland/Retail Dive
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    Off-price Rack drags down Nordstrom’s holiday performance

    But the retailer's seasonal results reflect margin consistency, and its focus on inventory management could pay off, some analysts say.

    By • Jan. 20, 2023
  • A transparent block on a blue sky background.
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    Courtesy of Syky
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    Web3 fashion startup Syky raises $9.5M

    The company aims to entice shoppers with incentives tied to its non-fungible token.

    By Tatiana Walk-Morris • Jan. 19, 2023
  • store front of Party City
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    Daphne Howland/Retail Dive
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    Judge grants Party City immediate access to $75M bankruptcy loan

    The remainder of a $150 million debtor-in-possession loan will not be released until February.

    By Nate Delesline III • Jan. 19, 2023
  • Digital rendering of a virtual world
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    Courtesy of Digital Village
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    L’Oréal’s VC fund makes first metaverse investment with Digital Village

    The beauty company is following the digital trend with a minority investment through its venture capital fund.

    By • Jan. 19, 2023
  • An Olympia Sports storefront
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    Courtesy of CriticalPoint Capital
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    Olympia Sports’ intellectual property headed to auction

    The retailer, which once had a footprint of 230 stores, is among the latest retail brand names up for grabs following a Chapter 11 bankruptcy.

    By Nate Delesline III • Jan. 13, 2023
  • Stacked white boxes of makeup on a black store display
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    Gabe Ginsberg / Stringer via Getty Images
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    Morphe parent company files for Chapter 11 bankruptcy

    Forma Brands — which also operates Playa Beauty and Jaclyn Cosmetics — has entered a proposed $33 million acquisition deal with lenders. 

    By Dani James • Jan. 12, 2023
  • A business window features a "help wanted" sign.
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    Spencer Platt / Staff via Getty Images
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    ‘Retailers are getting squeezed’ by price-weary consumers, supply chain costs: report

    Nearly all 50 retail executives surveyed in Deloitte’s latest study expect inflation to pressure profits this year.

    By Dani James • Jan. 12, 2023
  • Pink and green bottles of haircare products
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    Courtesy of Mielle Organics
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    P&G acquires haircare brand Mielle Organics

    The textured hair brand — founded in 2014 by husband-and-wife duo Monique and Melvin Rodriguez — said it has no plans to change existing formulas. 

    By Dani James • Jan. 12, 2023
  • Bed Bath & Beyond
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    Bruce Bennett via Getty Images
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    Bed Bath & Beyond plans more layoffs

    As sales slide and bankruptcy looms, the struggling home goods retailer is looking to cut costs.

    By • Jan. 11, 2023
  • Mattress Firm storefront.
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    Permission granted by Mattress Firm
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    Mattress Firm pauses IPO plans, citing market volatility

    One analyst predicts the move could signal the mattress retailer’s interest in being acquired.

    By Nate Delesline III • Jan. 11, 2023
  • A Rent the Runway subscriber searches the company's "closet in the cloud" on mobile.
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    Permission granted by Rent the Runway
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    Why some digital natives are always tweaking their models

    Shaking up a business can be a sign of innovation, or trouble. For DTC brands, the best move may be found in retail’s oldest playbook.

    By • Jan. 11, 2023
  • Puffy clouds in a blue sky frame a storefront that says "Bed Bath & Beyond" in large dark letters.
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    Daphne Howland/Retail Dive
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    Bed Bath & Beyond sales fall 33% in Q3 as it seeks strategic alternatives

    After warning of a potential bankruptcy filing last week, the struggling home retailer’s operating loss swelled to over $450 million during the quarter.

    By • Jan. 10, 2023
  • A Five Below discount store.
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    "https://www.flickr.com/photos/jeepersmedia/14853082845/in/photolist-2k8nwKQ-2jkjsvv-oCvW4g-oCuf3U-oEgTw6-oCufvN-oAuaV1-oCfiot-oAub5j-om2TrM-2ihyE2T-ofj1tt-oEgSPe-om2vPR-oCvUVV-om2ajd-2pC7eGW-owLTPE-2m" by Mike Mozart is licensed under CC BY 2.0
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    Five Below to convert hundreds of stores to higher-priced concept

    The discounter sees roughly twice the spend from customers who purchase Five Beyond products and has received positive feedback on the format. 

    By • Jan. 10, 2023
  • Bed Bath & Beyond
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    Bruce Bennett via Getty Images
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    Fitch: Gulf between retail’s winners and losers to widen in 2023

    Default rates will likely remain low, but the firm is watching for bankruptcies from major players like Party City, Rite Aid and Bed Bath & Beyond.

    By • Jan. 10, 2023
  • To the right of a mall store entrance, a minimalist gray granite facade features the red and white Lululemon logo and white lettering.
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    Daphne Howland/Retail Dive
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    Lululemon’s stock drops after margin warning

    The athletics company raised its revenue expectations for the quarter, but it has a lot of inventory to clear through after the holidays.

    By Dani James • Jan. 9, 2023
  • Give Love is in lights on the storefront of Macy's in Herald Square in NYC.
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    Kaarin Vembar/Retail Dive
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    Macy’s lowers holiday sales prediction

    The department store managed to maintain its guidance within its previous range, but its warning suggests that it lost market share, analysts say.

    By • Jan. 9, 2023
  • Poshmark introduces shoppable Poshmark Stories feature
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    Courtesy of Poshmark
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    Naver closes on Poshmark acquisition

    The resale marketplace has stopped trading on the Nasdaq as a result of the deal.

    By • Jan. 9, 2023
  • Interior shot of a busy mall.
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    danielvfung via Getty Images
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    Deep Dive

    9 retail trends to watch in 2023

    With the threat of a recession looming, the new year brings about a slew of challenges for retailers — but not all is gloomy.

    By Retail Dive Staff • Jan. 9, 2023
  • A corner store with lit signage in various colors reads "Walgreens Drugs, photo, cosmetics, prescriptions." Red "Walgreens" signs adorn the sign and a big circular overhang above the corner door.
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    Daphne Howland/Retail Dive
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    Column

    The Weekly Closeout: Tuesday Morning to go private and Walgreens ‘cried too much’ over theft

    The discount home brand is taking itself off the Nasdaq Stock Market, while the drugstore admitted it might have overblown the theft issue.

    By Retail Dive Staff • Jan. 6, 2023
  • Bed Bath & Beyond
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    Bruce Bennett via Getty Images
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    Bed Bath & Beyond warns it could file for bankruptcy

    The struggling home retailer issued a "going concern" warning as sales continue to slide and losses widen.

    By • Jan. 5, 2023
  • A person wearing glasses leans over a table with sketches as a child looks on.
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    Courtesy of Stitch Fix
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    Stitch Fix cuts 20% of salaried staff, CEO steps down

    Founder Katrina Lake has returned to take over from Elizabeth Spaulding in the interim as the company searches for a new chief executive.

    By • Jan. 5, 2023
  • A Hydro Flask water bottle.
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    "Hydro Flask" by Tony Webster is licensed under CC BY 2.0
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    Hydro Flask, Drybar owner to cut 10% of global workforce

    Helen of Troy saw net sales revenue decrease across all segments in its third quarter, while operating and net incomes both fell by double digits.

    By Dani James • Jan. 5, 2023
  • Amazon Go Mill Creek
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    Jeff Wells/Retail Dive
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    Amazon layoffs will top 18K, many in retail

    The e-commerce giant misjudged the longevity of the pandemic’s impact on demand, and its cuts could undermine its innovation, analysts say.

    By • Jan. 5, 2023