Financial News: Page 61
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Courtesy of Eastbay
Foot Locker divests its team sales business
The sale comes as the retailer has nearly finished merging its Eastbay and Champs Sports brands into a single unit focused on young athletes.
By Ben Unglesbee • June 27, 2022 -
Courtesy of South Carolina Ports Authority
Inventory in 2022: Normal is still nowhere in sight
With Target taking the vocal lead, retailers are flushing out excess inventory to reset for the holidays. How much they’ll sell then is anybody’s guess.
By Ben Unglesbee • June 27, 2022 -
Justin Sullivan / Staff via Getty Images
As consumers spend more on gas and food, a shadow looms over retail
The second half of the year will be tough for retailers as shoppers hunt for lower prices, opt for experiences and shift their loyalties.
By Daphne Howland • June 24, 2022 -
Courtesy of Bed Bath & Beyond
Bed Bath & Beyond launches buy now, pay later option and rewards program
The retailer’s tier-based program offers perks like free shipping for select members and flexible payments, and it replaces the existing Beyond+ program.
By Caroline Jansen • June 24, 2022 -
Courtesy of Nike
ColumnThe Weekly Closeout: Nike exits Russia and tech firms unite around the metaverse
The athletics giant won’t reopen its stores in the region. Meanwhile, Meta, Microsoft and others teamed up to develop standards for the virtual concept.
By Retail Dive Staff • June 24, 2022 -
Justin Sullivan via Getty Images
Abercrombie & Fitch Co. paid millions in extra freight costs after Vietnam lockdowns
The retailer is scheduling earlier inventory receipts after factory shutdowns pushed the retailer to rely more on airfreight.
By Alejandra Carranza , Edwin Lopez • June 24, 2022 -
Permission granted by Symbotic
Walmart invests in supply chain AI company Symbotic
The retailer is deploying the company’s technology to increase capacity, accuracy and productivity at its distribution centers.
By Ben Unglesbee • June 24, 2022 -
Revlon scrambles to stabilize its supply in bankruptcy
The cosmetics giant is racing to pay suppliers and catch up on production so it can fill orders for the pending holiday season.
By Ben Unglesbee • June 23, 2022 -
Shutterstock/Elizaveta Galitckaia
Sponsored by Appriss RetailRising returns hurt everyone
The costs of lenient shipping and return policies are proving to be unsustainable. What can be done?
June 22, 2022 -
After much mulling, Office Depot owner rejects both sale and split
The office supplies specialist won’t be breaking itself up nor merging with rival Staples. Many twists and turns later, it has decided to stay whole.
By Ben Unglesbee • June 22, 2022 -
Daphne Howland/Retail Dive
Nordstrom leans on off-price Rack for growth and profit
The retailer was said to be exploring a spinoff of the business, but now says it’s cranking up its footprint and tying it more tightly to its full-line operations.
By Daphne Howland • June 22, 2022 -
Courtesy of EBay
EBay acquires NFT marketplace KnownOrigin
The deal will usher in “a new era of digital collecting to the world’s top destination for collectibles,” according to eBay.
By Kaarin Moore • June 22, 2022 -
Retrieved from Bain Capital on June 21, 2022
Blue Nile to re-enter public markets through SPAC deal
The DTC jewelry brand went public in 2004 before being acquired by Bain Capital Private Equity and Bow Street just over a decade later.
By Caroline Jansen • June 21, 2022 -
Retrieved from Sundry on January 25, 2022
Digital Brands says it is closer to Sundry acquisition
The brand operator has been seeking capital as it faces losses and vendor lawsuits, at the same time as it seeks scale for its business model.
June 21, 2022 -
Courtesy of Enjoy Technology
Ron Johnson's Enjoy Technology wants to create a new form of retail. But first it must survive.
The former J.C. Penney CEO has built out a fleet of mobile stores to bring the shopping experience to homes. Its losses are mounting, though, and cash is running out.
By Ben Unglesbee • June 17, 2022 -
Astrid Stawiarz / Stringer via Getty Images
ColumnThe Weekly Closeout: Deckers' COO steps down and Swarovski names CEO
David Lafitte exited the footwear retailer to pursue another opportunity, while the jewelry brand appointed its first chief outside of the founding family.
By Retail Dive Staff • June 17, 2022 -
Daphne Howland/Retail Dive
Gap Inc. joins $8M funding round to take equity stake in Allyson Felix's Saysh
The company’s Athleta brand, which has partnered with the track and field star since 2019, will feature Saysh merchandise on its website.
By Daphne Howland • June 17, 2022 -
Revlon files for bankruptcy as debt, supply challenges take a toll
After years of hemorrhaging cash, the cosmetics brand aims to reorganize and cut its debt load in Chapter 11.
By Ben Unglesbee • June 16, 2022 -
Adeline Kon/Retail Dive, data from Flickr
ColumnSKU’d: Chanel breaks up with the rich in favor of the ultra-rich
The fashion house is raising prices and opening high-end stores – all while reporting record-breaking numbers.
By Kaarin Moore • June 16, 2022 -
AndreyPopov via Getty Images
Retailers grapple with e-commerce's drag on profits: report
The online channel is a must, but it’s costly, and scale doesn’t help much, according to research conducted by Ipsos for Publicis Sapient and Salesforce.
By Daphne Howland • June 14, 2022 -
Courtesy of LUSIX
LVMH invests in lab-grown diamond company Lusix
The luxury conglomerate noted in April that it was “working on replacing sourcing from Russia,” which was previously a large supplier for the natural diamond industry.
By Tatiana Walk-Morris • June 14, 2022 -
AvigatorPhotographer via Getty Images
Ocean shipping reform clears Congress, to the cheers of retail groups
The bill, which President Biden indicated he will sign, gives the Federal Maritime Commission more authority to investigate and claw back carrier fees.
By Ben Unglesbee • June 14, 2022 -
Permission granted by Rent the Runway
Rent the Runway revenue doubles in Q1 as women dress up again
The apparel rental service, which benefits from the red-hot secondhand market, is expanding its more convenient, less costly at-home pickup services.
By Daphne Howland • June 13, 2022 -
Revlon reportedly preparing for bankruptcy
The beauty giant has long suffered under billions of dollars in debt, while the pandemic exacerbated its financial struggles.
By Ben Unglesbee • June 13, 2022 -
Courtesy of Recover; Goldman Sachs
Recycled cotton company Recover raises $100M in funding led by Goldman Sachs
The latest round of funding speaks to the need for innovation in an industry that creates tons of waste annually.
By Dani James • June 13, 2022
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