Financial News: Page 63


  • Mannequins in an Old Navy store window.
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    Daphne Howland/Retail Dive
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    Deep Dive

    Where does Sonia Syngal’s exit leave Gap?

    With underperformance across its brands, many of the retailer’s problems are self-inflicted. But others are a sign of broader trouble in apparel.

    By July 13, 2022
  • Verishop product images of a green button down shirt and green supplement bottle
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    Permission granted by Verishop
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    Verishop raises $40M in Series B round

    The financing will go toward improving its capabilities, with a focus on supporting independent and up-and-coming brands.

    By Tatiana Walk-Morris • July 13, 2022
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    Courtesy of Pattern Brands
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    Pattern Brands snaps up 2 more brands after securing $25M

    The latest acquisitions follow a $60 million funding round last year and push the total brands within the company’s portfolio to six.

    By July 12, 2022
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    Permission granted by Dollar General
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    Dollar General CEO to retire

    Chief Operating Officer Jeffery Owen, who started as a store manager trainee in 1992, is set to take over the chief executive spot. 

    By July 12, 2022
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    Courtesy of Brooklyn Bedding
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    Brooklyn Bedding, Helix Sleep acquire Bear Mattress

    The deal comes after private equity firm Cerberus Capital Management acquired Brooklyn Bedding and Helix Sleep to form a DTC mattress platform.

    By July 12, 2022
  • Headshot image of Sonia Syngal in jean jacket.
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    Courtesy of Gap Inc.
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    Gap Inc. CEO Sonia Syngal steps down

    Board chair Bob Martin has taken her place in the interim. Also, Walmart Canada chief Horacio Barbeito will lead Old Navy as of Aug. 1.

    By July 11, 2022
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    The RealReal
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    Shoe companies pause hiring and investing as they brace for weaker sales

    Concerns have shifted from supply chain to inflation and consumer behavior, according to the Footwear Distributors and Retailers of America.

    By July 11, 2022
  • Federal Trade Commission
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    Carol Highsmith. (2005). "The Apex Building" [Photo]. Retrieved from Wikimedia Commons.
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    Walmart lashes back at FTC over money-transfer lawsuit

    In a fiery rebuttal to the Federal Trade Commission lawsuit, the nation’s biggest retailer is already doing battle in the court of public opinion.

    By Lynne Marek • July 11, 2022
  • A GameStop storefront
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    Daphne Howland/Retail Dive
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    GameStop fires CFO, reportedly plans layoffs

    The retailer has cycled through two top executives hired under Chairman Ryan Cohen, and is cutting corporate staff as it bets on the future of gaming.

    By July 8, 2022
  • A red Levi's tab sign against a bright blue sky.
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    Daphne Howland/Retail Dive
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    Levi's denim remains strong in Q2 as more people wear jeans to work

    The brand’s stores outpaced online sales in the period, but its creation of a new chief digital officer role reflects its confidence in e-commerce.

    By July 8, 2022
  • Default risk rises amid consumer pullback and tougher funding environment: S&P

    Analysts said “inflation, energy security, geopolitical uncertainty, and rapidly tightening financing conditions are increasingly putting pressure on issuers.”

    By July 7, 2022
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    AndreyPopov via Getty Images
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    Authentic Brands Group settles lawsuit with Bolt

    With the settlement, the brand licensing company has acquired a stake in the online checkout startup.

    By Caitlin Mullen • July 6, 2022
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    Courtesy of Amazon
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    Amazon dangles free Grubhub membership ahead of Prime Day

    The e-commerce giant has inked a deal with the struggling food delivery service that includes an opportunity to take a minority stake.

    By July 6, 2022
  • Rite Aid storefront.
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    Courtesy of Rite Aid
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    Rite Aid tries to ease debt load and boost profits

    The drugstore retailer bought back some of its bonds early in a distressed exchange and plans to close 145 stores as it tries to control costs.

    By July 6, 2022
  • Patrik Frisk was tasked with turning around Under Armour. He lasted 2 years.

    As CEO, some analysts say he didn't drive enough growth for founder Kevin Plank. So, what is the company looking for next?

    By July 6, 2022
  • A tree branch frames a Kohl's store on a sunny day.
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    "Kohl's" by Mike Mozart is licensed under CC BY 2.0
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    Kohl's turns its attention to its real estate assets

    The company once rejected the idea of selling and then leasing back its stores, but with takeover talks over, the retailer seems to be changing its mind.

    By July 5, 2022
  • A Lululemon storefront in Georgetown
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    Cara Salpini/Retail Dive
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    Pursuing global expansion, Lululemon enters Spain

    The company plans to quadruple international revenues by 2026. As it pursues growth in Europe, an entry into Italy is also in its sights.

    By July 5, 2022
  • A gray and white Bed Bath & Beyond store.
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    Daphne Howland/Retail Dive
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    Column

    The Weekly Closeout: Bed Bath & Beyond continues executive shakeup and Gucci launches a pet collection

    The home retailer appointed a new chief accounting officer and head of treasury. Meanwhile, the luxury brand seeks to bring individuality to pets.

    By Retail Dive Staff • July 1, 2022
  • An Enjoy Technology worker assisting a customer set up a smartphone
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    Courtesy of Enjoy Technology
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    Enjoy Technology says it has a prospective buyer that would keep it alive

    Asurion, which insures and repairs consumer electronics, has emerged as lender, prospective buyer and future operator of the bankrupt Enjoy. 

    By July 1, 2022
  • A Sephora at Kohl's location
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    Courtesy of Kohl's
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    Kohl's slams the door on takeover after Franchise Group lowers bid

    The Vitamin Shoppe owner less than a month ago offered $60 per share, but cut that to $53 after the Fed hiked interest rates, the department store said.

    By July 1, 2022
  • An Enjoy Technology worker assisting a customer set up a smartphone
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    Courtesy of Enjoy Technology
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    Enjoy Technology files for bankruptcy with plans to sell itself

    Centered around mobile stores that bring retail service inside homes, the company has been burning cash and suffering supply shortages. 

    By June 30, 2022
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    Kendall Davis/Retail Dive
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    Podcast

    The Backroom: Enjoy Technology set out to disrupt retail. But it got disrupted instead.

    Led by former J.C. Penney CEO Ron Johnson, the now-bankrupt “commerce-at-home” company has suffered from constrained supply and high costs.

    By Retail Dive Staff • June 30, 2022
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    Michael M. Santiago via Getty Images
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    Bed Bath & Beyond CEO out as sales fall 25% in Q1

    Mark Tritton, who took the helm in late 2019 after helping execute a turnaround at Target, is replaced by independent board member Sue Gove in the interim.

    By June 29, 2022
  • An Enjoy Technology worker assisting a customer set up a smartphone
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    Courtesy of Enjoy Technology
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    Enjoy Technology to 'pause' on selling Apple products

    The cash-strained company said it is halting its “commerce-at-home” services for the tech maker to focus on business priorities. 

    By June 29, 2022
  • Mobile app of StockX.
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    Courtesy of StockX
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    StockX lays off 8% of its workforce

    The embattled sneaker resale marketplace said that it’s had to adapt quickly as global economic challenges reshape consumer behavior.

    By June 29, 2022