Financial News: Page 84
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Chasing digital sales, Crocs unveils goal to hit $5B in revenue by 2026
The clog brand aims for 17% annual growth over the next five years, a plan that rests on boosting its online sales to half of its revenue.
By Ben Unglesbee • Sept. 15, 2021 -
Courtesy of Merit
Launched in January, DTC beauty brand Merit raises $20M
Founder and CEO Katherine Power is also responsible for skin care brand Versed, which debuted in 1,400 Target stores in 2019.
By Cara Salpini • Sept. 14, 2021 -
"Tuesday Morning at the Sunset Esplanade in w:Hillsboro, Oregon." by M.O. Stevens is licensed under CC BY 4.0
Tuesday Morning fills out its C-suite
Over the course of the year the retailer, which exited bankruptcy in January, has added a new CEO, COO, CFO and CIO.
By Ben Unglesbee • Sept. 13, 2021 -
Courtesy of Walmart
Walmart nixes quarterly bonuses for store workers
The retailer said that it will implement the phase-out at the end of the third quarter, after hiking up hourly wages by $1.
By Maria Monteros • Sept. 10, 2021 -
NYC home goods retailer ABC Carpet & Home files Ch. 11
More than a century old, the company skidded into bankruptcy with plans to sell itself after COVID-19 weighed on its sales and supply chain.
By Ben Unglesbee • Sept. 10, 2021 -
Courtesy of Lululemon
Lululemon to surpass 2023 revenue goal by the end of the year
The retailer is busting through expectations left and right, but some analysts worry Mirror "introduced noise into an otherwise clean equity story."
By Cara Salpini • Sept. 9, 2021 -
Torrid, brushing aside its competition, plans 25 new stores each year
The plus apparel retailer, in its first quarterly report as a public company, also said its successful lingerie line will get its own website next year.
By Daphne Howland • Sept. 9, 2021 -
Retrieved from Beauty Pie on September 08, 2021
Beauty Pie buying club brings in $100M Series B to fund expansion
The company plans to add warehouses, pop-ups and a new membership model as it seeks scale in a crowded market.
By Ben Unglesbee • Sept. 8, 2021 -
Washington Prime Group, facing an uncertain future, will go private
The retail REIT, whose Chapter 11 exit plan was approved last week, said that trading on the New York Stock Exchange wasn't worth the expense.
By Daphne Howland • Sept. 8, 2021 -
Signet raises 2021 expectations after comps increase nearly 100%
Sales have sprung back for the jewelry specialist, while the delta variant and possible return of experience spending cloud the picture going forward.
By Ben Unglesbee • Sept. 7, 2021 -
Courtesy of Joann
Supply chain, delta variant challenge Joann in Q2
The retailer faced tough comparisons to last year when consumers were crafting at home, but new initiatives promise long-term gains.
By Daphne Howland • Sept. 7, 2021 -
Courtesy of Forum Brands
Amazon aggregator Forum Brands raises $100M in debt funding
From April last year through September 2021, Amazon aggregators have raised nearly $9 billion, according to Marketplace Pulse.
By Tatiana Walk-Morris • Sept. 7, 2021 -
Cashierless tech startup Zippin raises $30M
Armed with the new funding, the company aims to scale its checkout-free technology to "tens of thousands of stores" by 2025.
By Tatiana Walk-Morris • Sept. 7, 2021 -
Daphne Howland/Retail Dive
Macy's upgraded by S&P as sales recover
The retailer has been paying down debt and bringing in profits after last year's trials. But many of its pre-pandemic challenges remain.
By Ben Unglesbee • Sept. 3, 2021 -
Courtesy of Walmart
Walmart bumps up hourly pay by $1 for over 500K workers
As retailers compete for labor ahead of the holidays, Walmart is raising wages for front-end, food and consumable, and general merchandise workers.
By Maria Monteros • Sept. 3, 2021 -
Daphne Howland/Retail Dive
As customers return to stores, American Eagle's Q2 online sales fall
The apparel retailer disclosed that it acquired e-commerce logistics company AirTerra, to help control its supply chain and make money on the side.
By Daphne Howland • Sept. 2, 2021 -
Permission granted by Chewy
Chewy sales leap 27% as it takes market share
The online pet retailer is winning over wallets, but marketing costs are still hounding the company in its quest for profits.
By Ben Unglesbee • Sept. 2, 2021 -
Retrieved from Target on December 04, 2018
Oral care company Quip raises $100M to fund global growth
Its retail sales are up over 100% due to new product launches and partnerships with Walmart and Target.
By Tatiana Walk-Morris • Sept. 2, 2021 -
Courtesy of Olaplex
Private equity-backed haircare brand Olaplex files for IPO
The brand, which touts its ties to professional stylists and "science-backed" products, has been growing both its sales and debt load.
By Ben Unglesbee • Sept. 1, 2021 -
Courtesy of Brilliant Earth
Brilliant Earth joins IPO party
The DTC jeweler, which touts ethical sourcing of its materials and runs more than a dozen showrooms, swung to a profit last year.
By Daphne Howland • Sept. 1, 2021 -
Sequential Brands files for bankruptcy
After crumpling under its debt load, the licensing specialist is looking to sell off its remaining brands in Chapter 11.
By Ben Unglesbee • Aug. 31, 2021 -
Cara Salpini/Retail Dive
Allbirds files for IPO with growing revenue, and losses
Revenue at the DTC brand grew last year to $219 million, but so did losses, reaching $25.9 million.
By Cara Salpini • Aug. 31, 2021 -
Retrieved from Stateside on August 31, 2021
Digital Brands buys up another apparel business as it seeks scale
The company is looking to rapidly transform itself into a brand conglomerate that can create styles for customers out of its owned entities.
By Ben Unglesbee • Aug. 31, 2021 -
Retrieved from Apple Store.
Social shopping startup Flip raises $28M
The company intends to use the funding to expand its brand offering, creator ecosystem and end-to-end logistics platform.
By Tatiana Walk-Morris • Aug. 31, 2021 -
Retrieved from Digital Brands Group on August 30, 2021
Months after IPO, Digital Brands Group listed among S&P's most vulnerable retailers
The company is looking to roll up apparel brands and create leverage out of scale. But it's a long way from being profitable.
By Ben Unglesbee • Aug. 30, 2021
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