Financial News: Page 58
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Daphne Howland/Retail Dive
Fitch downgrades Party City as maturities loom
The party goods retailer is fast losing any financial cushion, its turnaround is uncertain and restructuring is “probable,” Fitch analysts said last week.
By Daphne Howland • Nov. 14, 2022 -
Courtesy of Triple Five Worldwide
American Dream cuts a deal with lenders to extend debt
The arrangement could give the massive mall in New Jersey more time after a tumultuous financial ride since opening.
By Ben Unglesbee • Nov. 11, 2022 -
Courtesy of Topicals
Skincare brand Topicals raises $10M in Series A financing
The direct-to-consumer company already has notable investments from Jay-Z co-founded Marcy Venture Partners, Kelly Rowland and more.
By Tatiana Walk-Morris • Nov. 11, 2022 -
ColumnThe Weekly Closeout: Big Lots fills out C-suite and At Home faces downgrade
Big Lots named marketing and merchandising chiefs, while Moody’s downgraded the home retailer’s corporate credit rating.
By Retail Dive Staff • Nov. 11, 2022 -
Retrieved from Amazon press page.
Amazon scrutinizing unprofitable business units: WSJ
CEO Andy Jassy, who replaced founder Jeff Bezos a year ago, is keen to slash costs and spike profits, the Wall Street Journal reports.
By Daphne Howland • Nov. 10, 2022 -
Courtesy of Warby Parker
Warby Parker narrows loss as it posts 8.3% revenue increase in Q3
The DTC brand also raised its 2022 outlook, expecting revenue to increase by up to 10.2% over last year. But growth is showing signs of slowing.
By Caroline Jansen • Nov. 10, 2022 -
Courtesy of Target
Target pivots to larger stores with new 150K-square-foot format
The concept is 20,000 square feet larger than the company average, with more space for pickup services, fulfillment and merchandise.
By Ben Unglesbee • Nov. 10, 2022 -
Courtesy of Adidas
Adidas will continue to sell Yeezy product without the Yeezy name
The athletic brand, facing steep revenue and profit losses after letting go of its most high-profile collaboration, again lowered its 2022 guidance.
By Daphne Howland • Nov. 9, 2022 -
Cara Salpini/Retail Dive
Allbirds’ sales growth ‘disappointing’ given store expansion
The brand is also expanding its relationship with key wholesale partners, which co-CEO Joey Zwillinger says will raise brand awareness.
By Cara Salpini • Nov. 9, 2022 -
Revlon’s sales down 10% as it tries to right itself in Ch. 11
The cosmetics giant has worked to firm up relationships with suppliers and is also fielding potential interest in buying the company out of bankruptcy.
By Ben Unglesbee • Nov. 9, 2022 -
Courtesy of Heyday
DTC marketplace Heyday buys personal care startup ZitSticka
The marketplace has raised $800 million so far to fuel its acquisition and brand growth goals.
By Tatiana Walk-Morris • Nov. 9, 2022 -
Courtesy of Ernesta
Peloton co-founders raise $25M for new custom rug startup
John Foley, Hisao Kushi and Yony Feng hope to disrupt the industry with custom-cut rugs that aren’t bogged down by supply chain chaos.
By Dani James • Nov. 8, 2022 -
Party City to shrink corporate workforce by 19% as consumers pull back
Halloween sales at the retailer came in at the low end of expectations as consumers worked to hold their spending down.
By Ben Unglesbee • Nov. 8, 2022 -
Daphne Howland/Retail Dive
Gap Inc. to sell Greater China business
The company made a deal with Baozun, an e-commerce solution provider, to operate the company’s in-market site and stores.
By Kaarin Moore • Nov. 8, 2022 -
"Tuesday Morning at the Sunset Esplanade in w:Hillsboro, Oregon." by M.O. Stevens is licensed under CC BY 4.0
C-suite shakeout at Tuesday Morning as CEO, COO and chief merchant exit
Fred Hand and Marc Katz are out after about a year and a half at the retailer following a major deal with the owner of the Pier 1 brand.
By Ben Unglesbee • Nov. 7, 2022 -
Courtesy of Vivrelle
Accessories membership club Vivrelle raises $35M in Series B
Since the company’s Series A funding round nearly 18 months ago, it has increased revenue by 600%.
By Tatiana Walk-Morris • Nov. 7, 2022 -
Vadym Petrochenko via Getty Images
NRF forecasts ‘healthy’ holiday sales in the face of economic challenges
The trade group predicts year-over-year growth of 6% to 8% and said consumers “remain resilient” even while facing inflation.
By Dani James • Nov. 4, 2022 -
Cara Salpini/Retail Dive
Zulily leads sales declines at Qurate (again)
Revenue was down 39% at the struggling e-commerce site, while sales were also down at the company’s flagship television retail banners.
By Ben Unglesbee • Nov. 4, 2022 -
Daphne Howland/Retail Dive
Lowe’s sells Canadian business to Sycamore Partners for $400M
The unit includes 450 corporate and independent affiliate dealer stores under the banners Rona, Lowe's Canada, Reno-Depot and Dick's Lumber.
By Caroline Jansen • Nov. 4, 2022 -
Kaarin Vembar/Retail Dive
ColumnThe Weekly Closeout: DSW bets on shoe repair and Under Armour finally addresses athleisure
Shoppers can drop off their worn shoes at the footwear retailer’s stores. And the athletics brand is broadening its assortment.
By Retail Dive Staff • Nov. 4, 2022 -
Daphne Howland/Retail Dive
Dick’s Sporting Goods creates venture fund for sports startups
The company said the fund’s initial investments reflect a focus on innovation and customer experience.
By Tatiana Walk-Morris • Nov. 4, 2022 -
Courtesy of Amazon
Amazon expands freeze in corporate hiring until next year
The e-commerce giant is tightening its belt further after pausing hiring in its retail operations last month.
By Daphne Howland • Nov. 4, 2022 -
Courtesy of StockX
StockX lays off about 80 more employees
The sneaker marketplace said the economy is a factor in laying off 80 employees, but the space is also roiled by Adidas’s move to cut ties with Ye.
By Daphne Howland • Nov. 3, 2022 -
Courtesy of Peloton
Peloton Q1 revenue misses expectations as CEO says ‘the ship is turning’
While the fitness brand reported a drop in operating expenses, revenue fell 23% year over year and it expects challenges during the holiday season.
By Dani James • Nov. 3, 2022 -
Wayfair lost 1M customers in Q3 as revenues fell 9%
The online retailer continues to lose share as it sinks deeper into the red, with its operating losses for the year already surpassing $1 billion.
By Caroline Jansen • Nov. 3, 2022
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