Financial News

  • store front of Party City
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    Daphne Howland/Retail Dive
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    Party City to close all stores in bankruptcy

    About 14 months after emerging from Chapter 11, the retailer finds itself in bankruptcy court once again. This time, it’s liquidating.

    By • Dec. 23, 2024
  • A downtown department store building
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    Daphne Howland/Retail Dive
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    Nordstroms succeed in taking company private for $6.25B

    The board unanimously approved the deal, which also includes Mexican retail conglomerate El Puerto de Liverpool and gives the founding family a majority stake.

    By • Dec. 23, 2024
  • 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 CEO: Wholesale partners ‘feel we’ve turned our back on them’

    Elliott Hill, who just took over the top spot in October, vowed a return to stronger relationships with its partners as sales fell 8% in Q2.

    By • Dec. 20, 2024
  • Walmart cart outside of a Florida supermarket on Nov. 18 24
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    Joe Raedle via Getty Images
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    The Weekly Closeout: Walmart to invest $1.3B in Chile and what Nike’s stumble means for Foot Locker

    The big-box retailer’s plans include 70 new stores across Chile, while the sportswear giant’s DTC about-face could be a boon to Foot Locker.

    By Retail Dive Staff • Dec. 20, 2024
  • Exterior shot of a Birkenstock store.
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    Courtesy of Birkenstock
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    Birkenstock closes out its fiscal year on a high note

    The German footwear brand is carefully calibrating its wholesale and direct-to-consumer strategies, with plans to grow its store count by 50% next year.

    By • Dec. 19, 2024
  • A person displays their open wallet and cards
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    Joe Raedle / Staff via Getty Images
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    CFPB swats at retail credit cards

    The federal agency warned companies issuing credit cards about illegal tactics, specifically calling out promotions that turn into “bait-and-switch” offers.

    By Lynne Marek • Dec. 19, 2024
  • With puffy clouds in a blue sky, bushes surround a store with the name "JC Penney" in white letters. The store entrance is a brick arch.
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    "JC Penney" by Mike Mozart is licensed under CC BY 2.0
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    J.C. Penney loss narrows in Q3 as sales declines continue

    The department store has more flexibility than others attempting a turnaround, but ongoing top-line weakness clouds its longer-term prospects.

    By • Dec. 18, 2024
  • Taylor Swift book promotion for Target.
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    Courtesy of Target
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    5 retailers that need a great 2024 holiday season

    Some companies are coming off a tough quarter, while others switched leadership or are dealing with changing consumer behavior. But all of these retailers need a W. 

    By • Dec. 17, 2024
  • Vera Wang at the Met Gala.
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    Aliah Anderson via Getty Images
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    Vera Wang sells namesake brand to WHP Global

    Wang will become a shareholder and continue to lead the label’s creative direction.

    By Laurel Deppen • Dec. 16, 2024
  • An Academy Sports + Outdoors storefront.
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    Courtesy of Academy Sports and Outdoors
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    Academy Sports and Outdoors to expand Nike offerings amid declining sales

    In April next year, the sporting goods retailer intends to introduce “full assortments” of the brand into more than 140 stores.

    By Tatiana Walk-Morris • Dec. 16, 2024
  • PayPal and Venmo logos on sign sitting on merchant's counter next to a clerk's digital display for payments.
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    Courtesy of PayPal
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    PayPal to raise prices for merchants

    The digital payments pioneer plans to increase fees U.S. merchants pay for some of its services, including buy now, pay later options, starting next month.

    By Lynne Marek • Dec. 16, 2024
  • People walking by stores and crossing the street in a city, with a small red car in a wide crosswalk.
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    Daphne Howland/Retail Dive
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    Deep Dive

    Nordstrom and Macy’s abandoned the ‘retail inventory method’ after using it for decades. Here’s why.

    The accounting practice, embraced by department stores in the 1920s, is outdated, skews key metrics and fosters bad decisions, analysts say.

    By • Dec. 16, 2024
  • An RH store in Alabama
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    The image by Harrison Keely is licensed under CC BY 4.0 / Edited by Nate Delesline/Retail Dive
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    RH to open 9 new design galleries next year in North America, Europe

    The luxury home furnishings retailer also said possible tariff spikes are unlikely to affect margins as it works to eliminate sourcing from China.

    By • Dec. 13, 2024
  • Shoppers walking by an Under Armour store.
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    Cara Salpini/Retail Dive
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    Under Armour holds first investor day in 6 years

    Capping off a difficult year, CEO Kevin Plank outlined the brand’s strategy to get back to growth through marketing reinvestment and product innovation.

    By • Dec. 13, 2024
  • A blue 2025 Hyundai IONIQ 5 N
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    Courtesy of Amazon
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    Column

    The Weekly Closeout: Adidas headquarters searched, Amazon starts selling cars

    The activewear brand is under investigation for tax and customs compliance, while the e-commerce giant is offering Hyundai cars through Amazon Autos.

    By Retail Dive Staff • Dec. 13, 2024
  • A J. Jill storefront in a mall
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    Cara Salpini/Retail Dive
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    J. Jill CEO will retire next year

    After taking the post in early 2021 amid the retailer’s financial distress, Claire Spofford introduced an operational control that analysts find encouraging.

    By • Dec. 12, 2024
  • Exterior sign for a GameStop store.
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    Daphne Howland/Retail Dive
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    GameStop eyes more store closures amid 20% sales drop

    The gaming retailer swung to a profit in Q3 even as it announced an exit from Germany and warned of higher store closures than previous years.

    By • Dec. 11, 2024
  • An exterior sign on a Macy's store.
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    Daphne Howland/Retail Dive
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    Macy’s speeds up store closures to amp up turnaround

    The retailer also said that for nearly three years an employee hid about $151 million in delivery expenses but that the fraud didn’t affect sales.

    By • Dec. 11, 2024
  • A white storefront with a blue Container Store logo on it.
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    Courtesy of The Container Store
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    NYSE moves to delist The Container Store

    The home retailer has made several moves this year to strengthen its financial position as consumer reticence around discretionary spending persists.

    By • Dec. 10, 2024
  • A Petco storefront. There is a white van parked outside and a person walking in the store.
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    Permission granted by Petco
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    Petco narrows net loss to $16.7M in Q3 as turnaround efforts gain momentum

    The company has made several executive appointments this year as it works to implement various merchandising changes.

    By • Dec. 10, 2024
  • Puffy clouds and green trees frame a suburban department store building.
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    Daphne Howland/Retail Dive
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    Under new ownership, Lord & Taylor revives old logo and comeback dreams

    The chief strategy officer at Regal Brands Global, which now runs the venerable department store, talks to Retail Dive about what comes next.

    By • Dec. 10, 2024
  • Exterior of an Ulta store
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    Kaarin Vembar/Retail Dive
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    After 2 quarters of cuts, Ulta raises guidance

    The beauty retailer, which notched a 1.7% sales gain, also announced that Chief Merchandising Officer Monica Arnaudo will retire in spring 2025.

    By • Dec. 9, 2024
  • A storefront for lingerie brand Pink.
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    Daphne Howland/Retail Dive
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    Victoria’s Secret & Co. turns its focus to Gen Z

    The company will be working to differentiate its two brands, which merged in 2022, and give more space and attention to Pink.

    By • Dec. 6, 2024
  • An entrance to a clothing store.
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    Daphne Howland/Retail Dive
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    Lululemon returns to stronger growth with 9% revenue jump

    As the brand looks to drive growth in North America, revenue in that region increased 2%, but comps still declined. 

    By • Dec. 6, 2024
  • A person holds a sweater taken out of a ThredUp box.
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    Courtesy of ThredUp
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    Column

    The Weekly Closeout: ThredUp sells Remix for $1 and who really won Black Friday?

    The resale business sold most of the European company to Florin Filote for one euro, while early reports suggest On and Amazon scored sales during the holiday.

    By Retail Dive Staff • Dec. 6, 2024