Financial News: Page 96
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Retrieved from Whatnot on March 05, 2021
Livestream shopping platform Whatnot raises $20M
Aiming to serve a niche, the company plans to expand into more collectible categories and emphasize the community element of collecting.
By Tatiana Walk-Morris • March 8, 2021 -
Raysonho. (2016). "Saks Fifth Avenue in Toronto" [photograph]. Retrieved from Wikimedia Commons.
Private equity pours $500M into Saks Fifth Avenue's e-commerce spinoff
Insight Partners will take a minority stake in the deal, which is valued at $2 billion and allows owner HBC to unlock value from the luxury brand.
By Daphne Howland • March 5, 2021 -
Kate Spade creative director Nicola Glass to exit
The brand is in the middle of restructuring its leadership roles as it embarks upon a plan for growth.
By Kaarin Moore • March 5, 2021 -
Courtesy of Dollar Tree
Dollar Tree eyes at least 3K locations for rural concept stores
A new format that combines the retailer's namesake brand with Family Dollar's blends their assortment and aims for smaller, underserved markets.
By Ben Unglesbee • March 5, 2021 -
Off-pricers face slow recovery after a rough year
Despite pressures that will remain this year, these retailers hold key advantages compared to department stores and other apparel sellers.
By Daphne Howland • March 5, 2021 -
DVF shut its clothing rental service, pivoted to Rent the Runway
The news comes as Ralph Lauren is launching its own rental service while luxury apparel retailers figure out their place in the circular economy.
By Kaarin Moore • March 5, 2021 -
Daphne Howland/Retail Dive
Old Navy, Athleta push Gap into the black
The company's namesake brand did better in North America in the quarter and could get a boost from its Yeezy collab, expected later this year.
By Daphne Howland • March 5, 2021 -
ThredUp files for IPO
With environmental concerns top of mind for many young consumers, the secondhand apparel market shows no signs of slowing down.
By Kaarin Moore • March 4, 2021 -
Bed Bath & Beyond plots 8 private label launches this year
The first brand, Nestwell, will debut in March, with five more following in the next six months.
By Caroline Jansen • March 4, 2021 -
The image by Loren Javier is licensed under CC BY-ND 2.0
Disney plans to close at least 60 stores in North America
The brand giant is refocusing around e-commerce after retail revenue fell by 4% during the pandemic.
By Ben Unglesbee • March 4, 2021 -
Courtesy of Capri Holdings
Capri Holdings hires former Walgreens exec as CIO
In his new role, Alejandro Martinez-Galindo will focus on accelerating the luxury company's digital and e-commerce evolution.
By Tatiana Walk-Morris • March 4, 2021 -
Daphne Howland/Retail Dive
Urban Outfitters tests paid membership program to boost loyalty
The program offers free shipping and returns, as well as other benefits, across the retailer's brands at a time when shoppers are demanding more convenience.
By Robert Williams • March 4, 2021 -
Michaels to be acquired by private equity firm for $5B
Apollo Global Management will tap long-term debt to partly finance the deal, which comes as the crafts retailer enjoys pandemic-fueled sales.
By Daphne Howland • March 3, 2021 -
Tailored Brands seeks $75M lifeline just months after exiting Ch. 11
The owner of Men's Wearhouse is nearing a loan deal as the pandemic continues to weigh on apparel, according to court documents.
By Ben Unglesbee • March 3, 2021 -
Inventory mismatch squeezes Nordstrom's holiday quarter
The problems hurt sales and margins, and led to a performance that was among the worst in both the department store and off-price sectors.
By Daphne Howland • March 3, 2021 -
Courtesy of Target
Target's $15B sales growth in 2020 outpaces past 11 years
The mass merchant's digital sales during the year ballooned by nearly $10 billion, while its same-day services increased by 235%.
By Maria Monteros • March 2, 2021 -
Courtesy of Kohl's
At least 2M Amazon customers went to Kohl's to make a return last year
Kohl's CEO Michelle Gass said a third of those new visitors were millennials, but hasn't revealed just how much the extra traffic actually drives sales.
By Daphne Howland • March 2, 2021 -
Cara Salpini/Retail Dive
Paper Source files for bankruptcy with plans to sell itself
A year ago, the retailer acquired 30 stores from Papyrus as that gift seller was liquidating. And then the COVID-19 pandemic derailed its growth.
By Ben Unglesbee • March 2, 2021 -
Courtesy of Nike
Nike's head of North America resigns
Ann Hebert spent over 25 years with the sportswear giant and is leaving following a Bloomberg report on her son's sneaker reselling business.
By Cara Salpini • March 2, 2021 -
Daphne Howland/Retail Dive
Macy's shakes up leadership, nixes COO role
The departure and arrival of certain top executives suggests major changes afoot for the department store's physical and digital strategies.
By Daphne Howland • March 2, 2021 -
Fabletics releases fitness app
Like other activewear brands, the company is shifting its focus toward digital engagement and benefiting from the home workout trend.
By Tatiana Walk-Morris • March 2, 2021 -
Courtesy of Thinx
Thinx launches more affordable line at Target
The brand will also add the products to CVS and Urban Outfitters later this year.
By Maria Monteros • March 1, 2021 -
Courtesy of Walmart
Walmart drops $35 minimum purchase for 2-hour delivery
The retailer introduced its rapid Express service amid the pandemic as shoppers avoided stores.
By Ben Unglesbee • March 1, 2021 -
Courtesy of Nordstrom
Nordstrom partners with at-home fitness startup Tonal
The deal helps the retailer meet escalating demand for workout gear and reflects its willingness to work with up-and-coming brands.
By Daphne Howland • March 1, 2021 -
Courtesy of David's Bridal
David's Bridal debuts the Little White Dress Boutique
The collection, which starts at $90, is meant to reach a more casual bride, brought about by the downsizing of wedding events during the pandemic.
By Kaarin Moore • March 1, 2021
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