Financial News: Page 2
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Heydude still a drag on Crocs in Q1
Former Ulta exec Susan Healey has been appointed chief financial officer, replacing Anne Mehlman, now Crocs brand chief.
By Daphne Howland • May 7, 2024 -
Beyond Inc. focuses on brand differentiation as losses widen in Q1
The company is expected to relaunch Zulily in Q3 as it looks to build out sister brands Bed Bath & Beyond and Overstock.
By Nate Delesline III • May 7, 2024 -
Trendline
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 -
Olaplex reports Q1 sales declines across all channels
The hair care company’s overall sales fell 13.1%, with its DTC segment down almost 16%, while net income dropped 63% compared to last year.
By Howard Ruben • May 3, 2024 -
Healthy soda brand Poppi denies being M&A target of large beverage companies
The drink, introduced in March 2020, is posting triple-digit growth as it benefits from surging consumer interest in better-for-you offerings.
By Christopher Doering • May 3, 2024 -
Wayfair net sales fall 1.6% in Q1
Despite challenges across the home goods category, executives remained optimistic that demand will return.
By Caroline Jansen • May 3, 2024 -
Column
The Weekly Closeout: Boscia plans to shutter website and L’Occitane takes steps to go private
The clean skin care brand said it will close its website on May 31, while the beauty brand’s chairperson, Reinold Geiger, launched a buyout bid.
By Retail Dive Staff • May 3, 2024 -
Peloton lays off 15% of global workforce as CEO Barry McCarthy exits
The staff reductions impact about 400 employees and come as the fitness company faces declining sales and members.
By Caroline Jansen • May 2, 2024 -
Amazon services outpace retail growth in Q1
The e-commerce giant’s third-party services, advertising, subscriptions and cloud unit generated double-digit revenue increases in the period.
By Daphne Howland • May 1, 2024 -
Royalty fees squeeze Vince margins
The company is targeting more than $30 million in savings in part to offset the new cost of licensing its own brand from Authentic Brands Group.
By Daphne Howland • April 30, 2024 -
Skechers logs record Q1 sales amid wholesale revival
The company expects revenue to increase by up to 11% for the fiscal year, which an analyst called “a pleasant surprise.”
By Laurel Deppen • April 29, 2024 -
West Lane Capital Partners acquires Mented Cosmetics
West Lane has been building out its portfolio of beauty brands, recently acquiring Seven hair care earlier this month.
By Howard Ruben • April 26, 2024 -
Joann to exit bankruptcy ‘in the coming days’ as reorganization plan gets court OK
The craft retailer expects to cut $505 million in debt and emerge from bankruptcy as a privately held company.
By Nate Delesline III • April 26, 2024 -
Column
The Weekly Closeout: Layoffs at Lululemon and Mango opens more stores
The athletics retailer had a round of layoffs as it shuttered a distribution center and Mango opened locations in Washington, D.C., and Boston.
By Retail Dive Staff • April 26, 2024 -
New stores, comps drive Tractor Supply’s Q1 sales to $3.4B
The company is pressing forward with plans to open 80 stores and its 10th distribution center this year.
By Nate Delesline III • April 25, 2024 -
Podcast
The Backroom: With more closures ahead, what’s next for Macy’s?
Under a new CEO, the iconic department store is fielding a $6.6 billion takeover offer, shuttering another 150 stores and fighting to stay relevant.
By Retail Dive Staff • April 25, 2024 -
Hasbro focuses on ‘high-profit partnerships’ to drive recovery as sales fall 24%
Excluding the sale of its eOne division, revenue was still down 9% in Q1, but the toy manufacturer swung to a profit.
By Nate Delesline III • April 24, 2024 -
The turnaround of Abercrombie & Fitch is finally here
S&P Global Ratings on Tuesday upgraded the apparel retailer, not just on its better-than-expected 2023 performance but also its strong momentum.
By Daphne Howland • April 24, 2024 -
What Q1’s retail sales say about the consumer in 2024
In the first three months of the year, a strong job market and wage gains helped buoy consumer spending, but some analysts warn it may not last.
By Daphne Howland • April 24, 2024 -
Dom’s, Foxtrot cease operations
The companies “found no viable option despite good faith and exhaustive efforts,” Dom’s posted on its website.
By Catherine Douglas Moran , Brett Dworski • April 23, 2024 -
UK-based JD Sports to buy rival retailer Hibbett for $1.1B
The combined company would have a global portfolio of about 25 brands and North American revenue of about $5.9 billion.
By Nate Delesline III • April 23, 2024 -
Big Lots uses headquarters mortgage to secure new financing
The retailer increased its borrowing capacity by up to $200 million and immediately drew down $50 million under the new loan.
By Nate Delesline III • April 23, 2024 -
FTC sues to block Tapestry’s $8.5B acquisition of Capri Holdings
The commission says the deal would prevent competition and give Tapestry a dominant share of the “accessible luxury” handbag market.
By Lara Ewen • April 23, 2024 -
Express files Chapter 11, plans to close over 100 stores
All of the company’s UpWest stores will shutter as the retailer pursues a sale to WHP Global, Simon Property Group and Brookfield Properties.
By Nate Delesline III • April 22, 2024 -
Column
The Weekly Closeout: Peloton drops free membership as Asos revenue falls over 18%
The struggling home exercise brand quietly removed the free option, while the fast-fashion retailer saw sales plunge in the first half of the year.
By Retail Dive Staff • April 19, 2024 -
Nordstrom family may try again to take the company private
The Nordstrom brothers, who are the retailer’s top executives, notified the board of their interest, and a special committee has been formed.
By Daphne Howland • April 19, 2024