Financial News: Page 61
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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 -
Daphne Howland/Retail Dive
Nordstrom lays off over 200 workers at supply chain facility
The retailer has been working to make its supply chain faster and more productive as it looks to offset costs and meet pick-up demand.
By Ben Unglesbee • Sept. 23, 2022 -
Courtesy of Nike
The Weekly Closeout: Home Depot employees move to unionize and Nike launches recycling program on Alipay
Philadelphia workers for the home improvement retailer filed with the National Labor Relations Board, while the athletics brand partnered with Ant Group’s Green Energy Initiative.
By Retail Dive Staff • Sept. 23, 2022 -
Courtesy of Business Wire
Kohl’s board unanimously backs CEO
The retailer is standing behind Chief Executive Officer Michelle Gass amid pressure from an activist investor to replace her and the board’s chair.
By Daphne Howland • Sept. 23, 2022 -
Courtesy of Kohl's
Hedge fund pushes to oust Kohl’s CEO, board chair
Ancora Holdings, among investors that last year forced changes to the retailer’s board, says CEO Michelle Gass “is no longer well-positioned to lead.”
By Daphne Howland • Sept. 22, 2022 -
"DXL Men's Apparel store located in Natick, MA." by JCarnellDXLG is licensed under CC BY-SA 4.0
Destination XL loses marketing chief, names replacement
Ujjwal Dhoot played a major role in the big-and-tall retailer’s turnaround and hunt for market share.
By Ben Unglesbee • Sept. 22, 2022 -
Cara Salpini/Retail Dive
Barclays downgrades Nike on inventory trouble, slowing demand and volatility in China
The retailer’s strength in North America may no longer be enough to offset its challenges in China, the analysts said.
By Cara Salpini • Sept. 21, 2022 -
Courtesy of Stitch Fix
Stitch Fix is losing customers as it competes against itself
The e-retailer’s new e-commerce site is stealing sales from its curated box business just as consumers pull back on apparel purchases.
By Daphne Howland • Sept. 21, 2022 -
Courtesy of iRobot
FTC investigates Amazon’s $1.7B bid to acquire iRobot
The news marks the second acquisition by the mass retailer that the Federal Trade Commission has requested further information on this year.
By Dani James • Sept. 21, 2022 -
Cara Salpini/Retail Dive
Nordstrom adopts poison pill
The retailer’s announcement follows news that Mexican department store company Liverpool acquired a 9.9% stake earlier this month.
By Dani James • Sept. 20, 2022 -
Halloween spending to surpass 2021 levels: NRF
Participation in the holiday is expected to exceed pre-pandemic levels as shoppers return to old habits.
By Tatiana Walk-Morris • Sept. 20, 2022 -
Courtesy of Purple
Purple receives takeover bid
Coliseum Capital Management offered to buy the remaining common stock for $4.35 a share, a roughly 56% premium from the brand’s Friday closing price.
By Caroline Jansen • Sept. 19, 2022 -
Bankrupt Revlon gets court approval for exec bonus plan
Top executives could collectively receive tens of millions of dollars in incentive bonuses.
By Ben Unglesbee • Sept. 16, 2022 -
Courtesy of Amazon
Amazon sued by California on allegations it blocks price competition
The state’s attorney general alleges that the e-commerce giant keeps sellers and wholesalers from offering lower prices outside its site.
By Ben Unglesbee • Sept. 15, 2022 -
Courtesy of Patagonia
Patagonia founder transfers ownership: ‘Earth is now our only shareholder’
From here on out, “every dollar that is not reinvested back into Patagonia will be distributed as dividends to protect the planet,” the company said.
By Cara Salpini • Sept. 14, 2022 -
Why is Family Dollar hacking at its prices amid inflation?
Hint: The answer starts with ‘D’ and ends with ‘ollar General.’
By Ben Unglesbee • Sept. 14, 2022 -
Courtesy of CriticalPoint Capital
Olympia Sports files for bankruptcy as it works through liquidation
The regional sporting goods specialist at its height had 230 stores. After a series of deals and tribulations, it’s winding down to zero.
By Ben Unglesbee • Sept. 13, 2022 -
andreswd via Getty Images
Holiday sales growth expected to slow this season: report
Inflation is projected to impact consumer spending overall, while e-commerce sales are expected to grow more this season according to Deloitte.
By Dani James • Sept. 13, 2022 -
Despite a strong Q2, Rent the Runway will lay off a quarter of its corporate employees by the end of the year
The apparel rental firm remains upbeat about its long-term prospects but is slashing costs to clear a path to profitability, executives said Monday.
By Daphne Howland • Sept. 13, 2022 -
"Tuesday Morning at the Sunset Esplanade in w:Hillsboro, Oregon." by M.O. Stevens is licensed under CC BY 4.0
Tuesday Morning gets a lifeline from Pier 1 owners
Retail Ecommerce Ventures is set to provide the retailer with new debt capital as well as access to its e-commerce platform and Pier 1 goods.
By Ben Unglesbee • Sept. 12, 2022 -
What happened to off-price retail this year?
The segment has thrived whether the economy was up or down, but its traditional resilience may not be what it once was.
By Daphne Howland • Sept. 12, 2022
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