Financial News: Page 60
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Courtesy of Goat Group
Goat Group agrees to buy streetwear marketplace Grailed
The sneaker resale site is chasing growth after evolving into a hub of secondhand and new fashion, including apparel and accessories.
By Daphne Howland • Oct. 17, 2022 -
After years of litigation, Toys R Us’ creditors reach resolution with former execs
A judge approved a settlement in a lawsuit brought by suppliers and others the toy retailer owed money to when it collapsed in bankruptcy.
By Ben Unglesbee • Oct. 17, 2022 -
Elenathewise via Getty Images
What September’s retail sales mean for the holidays
Consumers are spending and shopping early, but inflation is still squeezing their budgets. Retailers have their work cut out for them this season.
By Daphne Howland • Oct. 17, 2022 -
Courtesy of Amazon
Amazon’s fall sales event estimated to have fallen short of Prime Day — while still raking in billions
Transaction values and revenue in the holiday kickoff sale came in well under the company’s traditional summer sale this year, according to outside estimates.
By Ben Unglesbee • Oct. 14, 2022 -
Permission granted by Mattress Firm
ColumnThe Weekly Closeout: Lacoste names deputy CEO and Mattress Firm is (still) mulling an IPO
Catherine Spindler was most recently the company’s chief brand officer, while the mattress company’s owner is still figuring out what to do with it.
By Retail Dive Staff • Oct. 14, 2022 -
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
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