Financial News: Page 53
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Daphne Howland/Retail Dive
Victoria’s Secret aims for $7.4B in revenue with focus on core merchandise and international expansion
The intimates giant will take back market share from DTC rivals thanks in part to its dramatic marketing pivot, CEO Martin Waters said Thursday.
By Daphne Howland • Oct. 13, 2022 -
Courtesy of Rue21
Rue21 has a deal to bolster finances ahead of holidays
The teen retailer said it had an agreement with lenders that would secure working capital and “preserve continuity” with suppliers and vendors.
By Ben Unglesbee • Oct. 13, 2022 -
Brian Tucker/Retail Dive
Senate mulls bill targeting online sales of counterfeits and stolen goods
The INFORM Consumers Act, which would require marketplaces to verify seller identities, was added to a defense spending authorization.
By Ben Unglesbee • Oct. 12, 2022 -
Daphne Howland/Retail Dive
Levi’s slashing prices, cutting Q1 orders by 25% amid inventory deluge
With inventory rising all year, including a 43% surge in Q3, the denim maker is taking drastic measures to get back to normal by Q2 next year.
By Daphne Howland • Oct. 11, 2022 -
DGLimages / iStockPhoto
Adobe: Online holiday spending will near $210B this year
Industry analysts predict that while online shopping is projected to increase from last year, retailers could face more risk than they anticipated.
By Tatiana Walk-Morris • Oct. 10, 2022 -
Kena Betancur via Getty Images
What 2022’s downturn in deals signals about DTC exits
Market volatility, inflation and other economic uncertainty has created a weak environment for deals. What does this mean for direct-to-consumer brands?
By Caroline Jansen • Oct. 10, 2022 -
Courtesy of Stitch Fix
Stitch Fix to close factory, cease production of sustainable, size-inclusive private label
The apparel box retailer joins Old Navy in scaling back ambitions for inclusive sizing.
By Daphne Howland • Oct. 7, 2022 -
Courtesy of Tupperware
ColumnThe Weekly Closeout: Tupperware is now at Target and Hasbro’s $8.5B plan
Tupperware is on a journey to reach a younger demographic, and the toy brand announced an ambitious financial growth strategy.
By Retail Dive Staff • Oct. 7, 2022 -
Jeff Wells/Retail Dive
In latest sign of shifting priorities, Amazon reportedly freezes corporate hiring in its retail operations
The move comes weeks after the e-commerce giant hit the brakes on an ambitious expansion of its warehouse capacity.
By Daphne Howland • Oct. 5, 2022 -
Cowen sees holiday gloom ahead for retail
Analysts pointed to weakening demand and record inventory levels, an unfortunate mix for the industry’s profit prospects.
By Ben Unglesbee • Oct. 5, 2022 -
Courtesy of Poshmark
Poshmark has deal to sell itself for $1.2B
The resale marketplace agreed to be acquired by South Korean search and e-commerce giant Naver.
By Ben Unglesbee • Oct. 4, 2022 -
Courtesy of Rue21
Rue21 hires advisers for possible restructuring: WSJ
Less than two years ago, the teen-focused retailer was adding stores and growing its sales.
By Ben Unglesbee • Oct. 3, 2022 -
Courtesy of Caraway
DTC cookware brand Caraway raises $35M
The funding comes as many retail startups face a cooler venture capital market.
By Tatiana Walk-Morris • Oct. 3, 2022 -
18 retailers at risk of bankruptcy as consumers tighten wallets in 2022
As demand wavers and capital gets harder to find, the number of companies at risk has soared from last year.
By Ben Unglesbee • Oct. 3, 2022 -
Courtesy of Beyond Yoga
ColumnThe Weekly Closeout: Beyond Yoga opens its first store and H&M looks to cut costs
The active brand is planning more stores down the pike, while the fast-fashion retailer is hoping to stem losses by charging for returns.
By Retail Dive Staff • Sept. 30, 2022 -
Courtesy of Rite Aid
Rite Aid’s losses triple as sales fall
Declines in traffic and sales from COVID-19 services could be hurting the drugstore chain.
By Ben Unglesbee • Sept. 30, 2022 -
Courtesy of Nike
Nike ‘aggressively’ clearing inventory ahead of holidays
Some out-of-season apparel arrived late, while holiday apparel arrived early, leading inventories to rise 44% year over year.
By Cara Salpini • Sept. 30, 2022 -
Courtesy of Amazon
Amazon to spend nearly $1B on wage hikes for frontline workers
Increases start in October and will raise the average starting wage for fulfillment and transportation workers to over $19 an hour, the company said.
By Ben Unglesbee • Sept. 29, 2022 -
Daphne Howland/Retail Dive
As it works to turn itself around, Bed Bath & Beyond’s sales fall 28% in Q2
About a month after outlining a plan to steady the business, the struggling home retailer is also sinking deeper into the red.
By Caroline Jansen • Sept. 29, 2022 -
Permission granted by At Home Group
At Home downgraded as it burns through cash
The retailer took on debt from a private equity acquisition last year. Then the home goods market tanked.
By Ben Unglesbee • Sept. 28, 2022 -
Daphne Howland/Retail Dive
Eddie Bauer taps VF Corp exec as new CEO
Tim Bantle replaces Damien Huang, who stepped down after a year on the job and not long after its acquisition by Sparc Group.
By Ben Unglesbee • Sept. 27, 2022 -
Courtesy of Knix
Knix acquired for $320M
The DTC brand was bought by health and hygiene company Essity, with founder Joanna Griffiths maintaining a 20% stake.
By Tatiana Walk-Morris • Sept. 27, 2022 -
Carlos Alvarez via Getty Images
Yeti CFO resigns following lukewarm earnings
Paul Carbone, who took the company public during his first year as CFO, is departing to pursue another venture closer to family after four years in the role.
By Elizabeth Flood • Sept. 27, 2022 -
Daphne Howland/Retail Dive
Dollar Tree hires new COO in ongoing C-suite revamp
Michael Creedon, who has led U.S. store operations for Advance Auto Parts, will play a key role as the dollar retailer tries to become more competitive.
By Ben Unglesbee • Sept. 26, 2022 -
Courtesy of Purple
Purple adopts poison pill, forms committee to evaluate takeover bid
The DTC mattress brand last week received an unsolicited offer from Coliseum Capital Management.
By Caroline Jansen • Sept. 26, 2022
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