Financial News: Page

  • The Vitamin Shoppe storefront
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    Courtesy of The Vitamin Shoppe
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    Vitamin Shoppe parent going private in $2.6B deal

    CEO Brian Kahn is leading an investor group in a buyout deal following a lackluster first quarter.

    By Nate Delesline III • May 12, 2023
  • Nike headquarters
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    Courtesy of Nike
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    Column

    The Weekly Closeout: Shein aims to repurpose excess inventory and Nike adds board member

    The fast-fashion giant wants to use other retailers’ scraps for new clothing. Meanwhile, former Kimberly-Clark executive Maria Henry joined the athletic retailer’s board.

    By Retail Dive Staff • May 12, 2023
  • The direct-to-consumer landscape in retail Explore the Trendline➔
    Trendline

    The direct-to-consumer landscape in retail

    More mature brands are pursuing exit strategies and expanding their reach, while traditional retailers are increasingly shifting to a DTC model.

    By Retail Dive staff
  • People walking outside a Sperry shoe store during the day.
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    Jason Squires via Getty Images
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    Wolverine is ‘exploring strategic alternatives’ for Sperry

    CEO Brendan Hoffman said the footwear company needs to focus on its core brands, including Merrell, Saucony and Sweaty Betty.

    By Lara Ewen • May 12, 2023
  • Kanye West at Milk Studios
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    Getty Images
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    Adidas plans to sell some of its Yeezy inventory and donate the money

    CEO Bjørn Gulden said Thursday that burning the $1.3 billion worth of products was not the solution.

    By • May 11, 2023
  • TarraFlame's indoor s'mores roaster
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    Permission granted by Solo Brands
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    Solo Brands acquires TerraFlame

    The move helps build out the company’s portfolio of brands, which also includes Solo Stove, Chubbies, Oru Kayak and Isle.

    By • May 11, 2023
  • AllModern store interior
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    Courtesy of Wayfair
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    Wayfair aims to raise over half a billion dollars through convertible senior notes

    The home goods retailer expects to generate up to $677 million in net proceeds from the offering, which is set to close on Friday.

    By • May 10, 2023
  • Exterior of an Allbirds store in Washington, D.C.'s Georgetown neighborhood
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    Caroline Jansen/Retail Dive
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    Allbirds undergoes layoffs, co-CEO transitions to new role

    Co-founder Tim Brown has taken on the chief innovation officer role as the direct-to-consumer brand reported a drop in its Q1 net revenue.

    By • May 10, 2023
  • ThredUp apparel.
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    Courtesy of ThredUp
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    Higher-income shoppers help ThredUp narrow loss, grow sales in Q1

    The secondhand apparel site plans to reach a measure of profitability by Q4, but some analysts warn its growth plans could risk that.

    By • May 10, 2023
  • A white car is parked in front of a store, in a space toward the left.
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    Daphne Howland/Retail Dive
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    Warby Parker revenue up 12.2% in Q1 as it reins in marketing spend

    The direct-to-consumer eyewear company narrowed its net loss again and is focused on becoming a holistic eye care provider.

    By • May 9, 2023
  • Two ThredUp boxes sitting on top of each other on a bed, with a teal sweater next to them.
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    Courtesy of ThredUp
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    ThredUp lists on alternative stock exchange

    The resale company will commit to a vision for sustainable and inclusive business practices on the Long-Term Stock Exchange.

    By Nate Delesline III • May 9, 2023
  • Shoppers walking by an Under Armour store.
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    Cara Salpini/Retail Dive
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    Under Armour CEO: ‘Growth is, without a question, our highest priority’

    New chief Stephanie Linnartz identified a slew of areas that need work and rolled out a strategy that hinges on athleisure.

    By • May 9, 2023
  • Cars are parked in front of a store with "Mattress Firm" in red capital letters, against a bright blue sky.
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    Daphne Howland/Retail Dive
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    Tempur Sealy snaps up Mattress Firm for $4B

    Mattress Firm, which has been buffeted by the disruption in the segment and recently canceled its IPO, still runs more than 2,300 stores.

    By • May 9, 2023
  • A group of people sitting around a Solo Stove fire pit.
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    Courtesy of Solo Brands
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    Solo Brands posts 7.3% sales uptick in Q1 driven by wholesale strength

    CEO John Merris emphasized the importance of its retail partnerships, which include Ace Hardware, REI and Dick’s Sporting Goods.

    By Howard Ruben • May 8, 2023
  • EBay corporate building in Berlin
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    Courtesy of EBay
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    EBay Ventures invests in sporting goods marketplace SidelineSwap

    SidelineSwap also received an investment by DSG Ventures — the corporate venture arm of Dick’s Sporting Goods — last fall.

    By Tatiana Walk-Morris • May 8, 2023
  • FIGS
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    Courtesy of FIGS
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    Figs Q1 revenue jumps while net income drops

    The direct-to-consumer scrubs brand reported that active customers increased to 2.4 million while average order values lowered.

    By • May 8, 2023
  • Adidas store in Shanghai
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    Courtesy of Adidas
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    Adidas first quarter revenues drop 1%, beating expectations

    The Yeezy loss continues to impact business, but new collaborations such as Fear of God could offset losses in the second half of 2023.

    By Lara Ewen • May 5, 2023
  • Two people running on a trail
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    Courtesy of Brooks Running
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    Brooks Running posts 20% revenue increase in Q1

    The brand reported strength from its e-commerce channel as it captured more share in the running category.

    By Howard Ruben • May 5, 2023
  • Birchbox SoHo
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    Courtesy of Birchbox
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    Birchbox founder demands $2M from FemTec Health

    Birchbox co-founder Katia Beauchamp alleges FemTec Health, which acquired the box subscription service in 2021, operated in bad faith.

    By • May 4, 2023
  • Person riding a Peloton bike
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    Courtesy of Peloton
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    Peloton to relaunch brand

    While the company reported a total revenue decline in Q4 and missed on gross margin, it will rebrand later this month to better communicate its value.

    By • May 4, 2023
  • Exterior of Wayfair's headquarters in Boston
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    Caroline Jansen/Retail Dive
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    Wayfair execs remain optimistic even as losses continue to mount

    While the online retailer faces sales and customer declines, it believes it will be EBITDA positive as early as this quarter.

    By • May 4, 2023
  • View of women getting a massage with massage gun
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    Getty Images
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    Therabody names Atkins alum as CFO

    The Theragun maker is continuing its C-suite transformation as it looks to push forward into the broader, everyday health and wellness space.

    By Grace Noto • May 4, 2023
  • The interior entrance to a JC Penney mall store, with fronds of a plant in the foreground.
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    Daphne Howland/Retail Dive
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    J.C. Penney profits tumbled last year, as sales edged down

    The department store’s investments are hitting its bottom line, but could fuel its comeback, according to owner Simon Property Group’s CEO.

    By • May 3, 2023
  • A building with "Brooks Brothers" in gold lettering.
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    Daphne Howland/Retail Dive
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    Simon Property ownership in retailers could end in 5 to 10 years, CEO says

    David Simon still sees growth potential in the retailers owned by the mall REIT, though that portfolio swung to a loss in Q1.

    By • May 3, 2023
  • Exterior of an Allbirds store in Washington, D.C.'s Georgetown neighborhood
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    Caroline Jansen/Retail Dive
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    Shareholder files lawsuit against Allbirds

    The complaint filed in April alleges the DTC brand’s registration statements in 2021 were false or misleading as it relates to non-core product offerings. 

    By • May 2, 2023
  • A large "Revlon" sign in red letters above a wall of cosmetics products in a drugstore.
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    "Revlon Walgreens Miami" by Phillip Pessar is licensed under CC BY 2.0
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    Revlon, ready to exit Chapter 11, fills incoming board with former beauty retail execs

    The cosmetics company says it will emerge from bankruptcy some time this week, under private ownership of several private equity firms.

    By • May 1, 2023