Financial News: Page 94
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Ralph Lauren to shrink office and store footprint as sales remain sluggish
As the luxury brand struggles to gain a foothold in the COVID-19 era, it is cutting costs and working to win over younger shoppers.
By Ben Unglesbee • Feb. 8, 2021 -
Target's activewear brand generates $1B in first year
The All in Motion line is the retailer's 10th private label to hit billion-dollar status.
By Maria Monteros • Feb. 8, 2021 -
Kohl's turns to Eddie Bauer as outdoor sales surge
The off-mall department store last year announced a plan to grow its activewear sales from 20% of its business to at least 30%.
By Daphne Howland • Feb. 8, 2021 -
Sam's Club teams up with Synchrony, Mastercard for rewards program
The club retailer, like others in the retail space, is also simplifying the application process as consumers continue to struggle financially.
By Tatiana Walk-Morris • Feb. 8, 2021 -
Dollar General joins 'Beyond the Bag' initiative to reduce plastic waste
The retailer said it will test recommendations across its store count of more than 17,000 in 46 states.
By Rosie Bradbury • Feb. 8, 2021 -
What awaits retail on the other side of the pandemic
Everyone wants to get back to normal. Except maybe retailers.
By Daphne Howland • Feb. 8, 2021 -
Nordstrom leans on off-price, digital to chase customers and profits
The department store is phasing out HauteLook and making sweeping changes to how it works with suppliers.
By Daphne Howland • Feb. 5, 2021 -
Fearing store closures, mall landlords raise alarm about Sycamore's new version of Ascena
Simon Property Group claimed the recently created retail entity, which includes Ann Taylor and Lane Bryant, is a riskier venture than originally projected.
By Ben Unglesbee • Feb. 5, 2021 -
Retailers tout initiatives for Black History Month
But many Black-owned brands are getting swept up in a public relations rush that could undermine their long-term success.
By Daphne Howland • Feb. 5, 2021 -
Longtime L Brands CFO to retire, but not before Victoria's Secret spins off
Stuart Burgdoerfer will oversee the separation of the lingerie business from Bath & Body Works before he leaves in August, the company said.
By Daphne Howland • Feb. 4, 2021 -
Hudson's Bay online marketplace will feature more than 500 third-party sellers
The retailer initially put a call out for Canadian vendors to become part of the digital initiative as it prepped to enter the space in February.
By Kaarin Moore , Daphne Howland • Updated March 22, 2021 -
Walmart acquires Thunder ad tech as it preps self-serve display portal
The platform could make advertising on Walmart properties more accessible to small brands, an important step in the retailer's race to catch up with Amazon.
By Peter Adams • Feb. 4, 2021 -
Sears is closing 13 more stores, further shrinking its footprint
The once-storied retailer is running low on stores to close, yet its extended liquidation never seems to end.
By Ben Unglesbee • Feb. 4, 2021 -
Deep Dive
What does a government reckoning with Google and Facebook mean for retail?
For many, the tech giants are key to customer acquisition online, and they dominate the market for digital advertising, making them all but unavoidable for retailers.
By Ben Unglesbee • Feb. 4, 2021 -
Everlane taps Nike exec for first chief marketer
As it grows beyond its startup days, the DTC basics brand also named its first general manager of e-commerce, arriving from Rothy's.
By Cara Salpini • Feb. 3, 2021 -
Ulta to double Black-owned brands by year's end
In a set of wide-ranging commitments that span several departments, the beauty retailer plans over $25 million in investments to further diversity efforts.
By Cara Salpini • Feb. 3, 2021 -
Amazon posts a 'monster' Q4 with pandemic still driving demand
Sales in North America were up 40% as pandemic-wary shoppers tapped the e-commerce giant and its growing shipping empire.
By Ben Unglesbee • Feb. 3, 2021 -
Casper taps Walmart e-commerce vet as COO
Charles Liu replaces Greg Macfarlane, who stepped down from the chief operating and CFO roles last May.
By Caroline Jansen • Feb. 3, 2021 -
DTC brand Native launches hair care line
The company, which primarily sells deodorants and soaps, is debuting its first line of hair products exclusively at Target.
By Maria Monteros • Feb. 3, 2021 -
8 DTC trends to watch in 2021
While the broader industry outlook remains uncertain, one thing is clear: Digitally native brands will continue to adapt and evolve in the year ahead.
By Caroline Jansen , Cara Salpini , Maria Monteros • Feb. 3, 2021 -
Jeff Bezos to step down as Amazon CEO
In the third quarter, the founder will be replaced by Andy Jassy, who now leads the company's profitable AWS cloud services unit.
By Daphne Howland • Updated Feb. 2, 2021 -
GameStop's stock exploded, but traffic to its stores is still down
Over 2020, visits to the retailer were down more than 27% at the gaming retailer, according to Placer.ai.
By Ben Unglesbee • Feb. 2, 2021 -
"Hudson's Bay Company Georgia & Granville (near Pacific Centre)" by Cord Rodefeld is licensed under CC BY-SA 2.0
Hudson's Bay lays off 600 store workers in Canada
The company, which also owns Saks Fifth Avenue and went private last year, said government-enforced lockdowns forced the workforce reduction.
By Daphne Howland • Feb. 2, 2021 -
Kendra Scott steps down as CEO of namesake accessories company
Tom Nolan, who has been with the company since 2014, will take on the top role as Scott remains executive chairwoman and majority owner.
By Kaarin Moore • Feb. 2, 2021 -
Deep Dive
Do malls have any business getting into retail?
REITs' expanding ownership of troubled retailers complicates an investment setup dependent on steady revenue.
By Daphne Howland • Feb. 2, 2021