Financial News: Page

  • External shot of an Ollie's.
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    The image by JJBers is licensed under CC BY 2.0
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    Ollie’s aims to grow footprint to over 1,000 stores

    By fiscal 2024, the closeout retailer plans to expand its distribution center network to support 700 stores.

    By Nate Delesline III • March 23, 2023
  • Chewy, fulfillment center
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    Permission granted by Chewy
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    Chewy plots international expansion

    The online pet retailer is planning its first venture outside of the U.S. over the next few quarters, executives said Wednesday.

    By • March 23, 2023
  • The direct-to-consumer landscape in retail Explore the Trendline➔
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    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
  • Cosmetics on a table.
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    Getty Images
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    L’Oréal takes a step toward more sustainable ingredients with investment in Geno-led venture

    The beauty giant joins Unilever as a founding investor in the venture, which aims to develop alternatives to frequently used ingredients.

    By • March 23, 2023
  • Paper saying notice of loan default
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    Getty Images
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    US retail sector leads corporate defaults: S&P Global

    Retail faces continuing challenges with logistics, labor and supplier cost inflation, which is squeezing margins, as consumers pull back.

    By Nate Delesline III • March 22, 2023
  • A Petco storefront. There is a white van parked outside and a person walking in the store.
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    Petco adds 1M customers in 2022

    The retailer is leaning into its health and wellness offerings, introducing a pet food subscription service in partnership with Freshpet.

    By • March 22, 2023
  • A GameStop storefront
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    Daphne Howland/Retail Dive
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    GameStop posts first quarterly profit in two years

    CEO Matt Furlong said the company will continue cost cutting and cost containment to help sustain profitability.

    By Nate Delesline III • March 22, 2023
  • A Nike storefront at The Grove shopping center in Los Angeles, California.
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    Cara Salpini/Retail Dive
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    Nike touts ‘tremendous progress’ on inventory as sales grow 14%

    Much of the retailer’s recent revenue surge has been driven by markdowns, analysts said, and inventory is still up 16% year over year.

    By • March 22, 2023
  • Exterior of a DSW store.
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    "DSW" by Mike Mozart is licensed under CC BY 2.0
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    DSW parent undergoes layoffs as the company looks to ‘pare back every line of spending possible’

    Designer Brands is actively working to cut back, even as it builds out its owned brand strategy.

    By • March 22, 2023
  • The Vitamin Shoppe storefront
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    Courtesy of The Vitamin Shoppe
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    The Vitamin Shoppe owner gets buyout offer topping $1B

    Franchise Group’s management in January had reportedly considered taking the company private themselves for a similar price. 

    By • March 21, 2023
  • The founders of running brand On
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    Courtesy of On
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    On reports a profitable year with DTC, wholesale growth

    The brand saw net sales increase by 91.9% in its fourth quarter, and it will be expanding into tennis while it grows its focus on running.

    By • March 21, 2023
  • Puffy clouds in a blue sky frame a storefront that says "Bed Bath & Beyond" in large dark letters.
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    Daphne Howland/Retail Dive
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    Bed Bath & Beyond proposes reverse stock split

    The move is the distressed retailer’s latest tactic to "generate greater investor interest in the company.” 

    By Nate Delesline III • March 20, 2023
  • A Champs storefront
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    Courtesy of Champs
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    Foot Locker to shutter 400 mall-based stores by 2026

    As the retailer looks to simplify its business, CEO Mary Dillon also said the company is “revitalizing” its Nike partnership.

    By • March 20, 2023
  • DressX team posing
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    Courtesy of DressX
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    Virtual clothing platform DressX raises $15M

    Founded in 2020, the metaverse fashion company sells its digital clothing on marketplace platforms like Roblox, Meta and others.

    By • March 20, 2023
  • Barbie Balmain collaboration
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    Courtesy of Mattel
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    Mattel CFO sees movie tie-in boosting Barbie sales

    The toymaker had a tough 2022, but CFO Anthony DiSilvestro expects the outlook to improve and says parents will always prioritize spending on their children.

    By Chris Gaetano • March 20, 2023
  • A white canvas tote bag with green handles and green embroidered stitching.
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    Courtesy of LL Bean
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    Ironic totes help deliver L.L. Bean’s second-best revenue year

    The Maine outdoor retailer, best known for its iconic boots, plans to expand inclusive sizing after seeing sales rise 15% in that segment.

    By • March 17, 2023
  • Three people in bed with eye masks on surrounded by audio equipment.
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    Courtesy of Purple
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    Purple sets sights on premium customer

    Helped by its September acquisition of Intellibed, the DTC brand is positioning itself within the higher-end mattress market.

    By • March 17, 2023
  • Exterior shot of a Dollar General store.
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    Courtesy of Dollar General
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    Dollar General to spend $100M on staffing and stores

    The retailer plans to sustain its store opening momentum, with more than 1,000 new locations planned this year.

    By Nate Delesline III • March 17, 2023
  • A warm beige makeup bottle with a drawing of a cactus on it
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    Courtesy of The Honest Company
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    The Honest Company to raise prices amid growing losses

    The brand saw its Q4 net loss increase by about 40% year over year and it projects fiscal 2023 revenue to be flat with 2022. 

    By • March 17, 2023
  • A display of clothing in the interior of an apparel store.
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    Courtesy of Lands' End
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    Kohl’s marketplace gives Lands’ End a much-needed boost

    Amid a raft of declines, revenue from third-party sellers was up year over year, and the brand will soon add Macy’s marketplace to the roster.

    By • March 16, 2023
  • A Five Below employee assists a customer at the checkout counter
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    Courtesy of Five Below
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    Five Below to expand higher-priced Five Beyond concept to 400 stores

    The retailer will also open 200 locations this year as it looks to expand its shop-in-shop of products over $6.

    By Nate Delesline III • March 16, 2023
  • Green shelves with clear and colorful cleaning bottles next to paper towel rolls
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    Permission granted by Grove Collaborative
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    Grove Collaborative launches wellness hub to fuel growth

    CEO Stuart Landesberg spoke with Retail Dive about the creation of Grove Wellness and how it will support the company’s product innovation. 

    By • March 15, 2023
  • Block letters on wood paneling and a small sign jutting from a light stone building all read "J. Jill," above a store window.
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    Daphne Howland/Retail Dive
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    J. Jill aims to grow store footprint, eventually

    The apparel retailer ended the year with fewer stores and may close more, but it ultimately aims to “grow this important channel,” executives said.

    By • March 14, 2023
  • Exterior of a brick building with the Etsy name on it.
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    Courtesy of Etsy
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    ‘An existential threat’: Brands react to Silicon Valley Bank’s collapse

    SVB was closed and taken over by federal regulators, leaving some brands in the dark about how they would access their capital.

    By • March 13, 2023
  • A store with a bright green facade reads "Joann" in capital letters, and in smaller script says "handmade happiness."
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    Courtesy of Joann
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    Joann shores up liquidity ahead of Q4 report

    The crafts retailer, which made Retail Dive’s bankruptcy watchlist last year, has seen sales fall and costs rise after a pandemic boom.

    By • March 13, 2023
  • Allbirds opens store in Flatiron district of New York City.
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    Courtesy of Allbirds
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    Allbirds CFO exits as the brand pulls back on store openings

    The DTC footwear brand will continue to seek out wholesale partnerships as it prioritizes profitability.

    By • March 10, 2023