Financial News: Page 5
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Daphne Howland/Retail Dive
Best Buy braces for layoffs, store closures amid flat revenue in Q4
The retailer plans to invest heavily this year in improving its in-store merchandising and shopping experience.
By Nate Delesline III • March 1, 2024 -
New majority-stake owners of The Children’s Place come through with funds, shake up board
Saudi investment firm Mithaq Capital is providing $78.6 million in interest-free, unsecured and subordinated term loans, starting Thursday.
By Daphne Howland • March 1, 2024 -
Explore the Trendline➔
Getty Images
TrendlineThe 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 -
The image by Stilfehler is licensed under CC BY-SA 4.0
ColumnThe Weekly Closeout: Thrasio files Ch. 11 bankruptcy and will Macy’s close its San Francisco flagship?
The e-commerce aggregator will eliminate hundreds of millions of dollars in debt, while the department store is evaluating its real estate assets.
By Retail Dive Staff • March 1, 2024 -
Courtesy of Qurate Retail Inc.
Qurate Retail Group looks to streaming growth as Q4 revenue declines
The company this week also announced that QVC U.S. chief merchant Stacy Bowe is HSN’s new president.
By Nate Delesline III • Feb. 29, 2024 -
Courtesy of The Container Store
The Container Store lays off 100 employees amid ongoing sales declines
The move affects about 2.5% of the retailer’s workforce and follows lowered guidance for its fiscal year, which ends in a month.
By Daphne Howland • Feb. 29, 2024 -
(Drew Angerer/Staff) via Getty Images
Beyond Meat plans steep cost cuts as US demand remains weak
The company lowered prices to entice budget-conscious shoppers, but now plans some increases to help restore margins.
By Elizabeth Flood • Feb. 29, 2024 -
Nate Delesline III/Retail Dive
Family Dollar to pay $41.7M for issues tied to rat-infested warehouse
The discount retailer pleaded guilty to a one count misdemeanor violation after product contamination at the Arkansas distribution center.
By Kelly Stroh • Feb. 29, 2024 -
Courtesy of Rowing Blazers
Rowing Blazers sells majority stake to Burch Creative Capital
The deal will allow the preppy streetwear brand to develop a womenswear line and expand its retail footprint.
By Laurel Deppen • Feb. 28, 2024 -
Scott Olson via Getty Images
Warby Parker eyes 40 new stores as it closes 2023 with revenue up 12%
The vision brand, which operates 237 stores, still sees the opportunity for at least 900 locations, but wants its e-commerce business to return to growth.
By Caroline Jansen • Feb. 28, 2024 -
Courtesy of Zulily
Zulily IP assets put up for sale
The sale includes customer data, domain names, over 200 trademarks and code for the brand’s proprietary app.
By Tatiana Walk-Morris • Feb. 28, 2024 -
Daphne Howland/Retail Dive
Lowe’s net sales fall 17% in Q4
Executives announced $140 million in discretionary year-end bonuses for assistant store managers and front-line workers.
By Nate Delesline III • Feb. 27, 2024 -
Daphne Howland/Retail Dive
Macy’s to close 150 more stores in 3 years
New CEO Tony Spring said underperforming stores must close even if they are cash-flow positive, telling analysts: “The bar has now been raised.”
By Daphne Howland • Feb. 27, 2024 -
Wolverine sees 20.8% revenue slip in Q4
The Merrell and Sweaty Betty owner is expecting further declines in the 2024 fiscal year.
By Laurel Deppen • Feb. 27, 2024 -
Dillard’s manages ‘respectable’ holiday quarter
A challenging consumer environment kept a lid on the department store’s success in the period, but there were some bright spots.
By Daphne Howland • Feb. 27, 2024 -
Permission granted by Instant Brands
Bankruptcy court OKs Instant Brands restructuring plan
The company, which has a brand portfolio that includes Corelle and Pyrex, expects to exit Chapter 11 this month.
By Nate Delesline III • Feb. 23, 2024 -
Courtesy of Mattel
ColumnThe Weekly Closeout: Mattel taps new head of dolls and will VF Corp sell one of its biggest brands?
Krista Berger is the new senior vice president of Barbie and will lead the dolls division at the toy company. Meanwhile, the apparel conglomerate is reviewing its brand assets.
By Retail Dive Staff • Feb. 23, 2024 -
Courtesy of The Home Depot
Home Depot issues cautious outlook after soft Q4
The economy is leading consumers to delay purchases for big projects, but push forward with smaller ones, executives said.
By Nate Delesline III • Feb. 22, 2024 -
Wayfair’s revenue inches up 0.4% in Q4 as the home category remains challenged
The online home goods retailer called 2023 the “Year of the Reset” as it turned to layoffs, among other things, to cut costs.
By Caroline Jansen • Feb. 22, 2024 -
Courtesy of Etsy
Etsy cedes the market for cheap goods and ultra-fast delivery to Amazon, Walmart, Shein and Temu
The marketplace is working hard to keep mass-produced items off its site and lure discretionary dollars from reluctant consumers.
By Daphne Howland • Feb. 22, 2024 -
Courtesy of Havenly
Havenly to acquire The Citizenry
The deal marks the third acquisition in two years for Havenly, which also bought Interior Define and The Inside.
By Howard Ruben • Feb. 22, 2024 -
Olga Nikiforova for iStock via Getty Images
Shutting down Overstock was ‘a fatal mistake’: Beyond executive chairman
Beyond Inc. will reopen Overstock's online store in the coming weeks in collaboration with Shopify.
By Nate Delesline III • Feb. 22, 2024 -
Courtesy of Timberland
S&P Global Ratings downgrades VF Corp, expects sale of at least one major brand
Declines at VF’s top four labels will likely continue amid weakness in wholesale and direct-to-consumer sales — and not just at Vans.
By Daphne Howland • Feb. 21, 2024 -
nito100 via Getty Images
Zevia taps new CFO amid growth push
The CFO swap comes as Zevia fights to bolster growth amid financial challenges and competitive demand for healthier beverages.
By Grace Noto • Feb. 21, 2024 -
Daphne Howland/Retail Dive
Under Armour inventory ticks closer to normal as freight, supply costs fall
The sportswear brand finally posted a decline in stock levels while executives said it has worked with vendors to lower product costs.
By Ben Unglesbee • Feb. 21, 2024 -
Kaarin Vembar/Retail Dive
Walmart to buy Vizio for $2.3B as annual revenue climbs 6%
The company reported double-digit growth in its advertising unit for the year, while e-commerce sales surpassed $100 billion.
By Nate Delesline III • Feb. 20, 2024
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