Financial News: Page 10
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Courtesy of The Container Store
Beyond to invest $40M in The Container Store
As part of the deal, an assortment of Bed Bath & Beyond merchandise will be offered at The Container Store's brick-and-mortar locations.
By Nate Delesline III • Oct. 16, 2024 -
"Holiday Shopping - Downtown Crossing" by Massachusetts Office Of Travel & Tourism is licensed under CC BY-ND 2.0
NRF expects holiday sales to rise as much as 3.5%, reaching at least $980B
With an expansive economy and wages outpacing inflation — and despite ongoing consumer wariness — spending will set a record, the group said.
By Daphne Howland • Oct. 16, 2024 -
Jonathan Leibson via Getty Images
Adidas momentum continues with 7% sales growth
Preliminary results for the third quarter also showed that, excluding Yeezy sales from this year and last, currency-neutral revenue surged 14%.
By Cara Salpini • Oct. 16, 2024 -
Permission granted by Havenly
Havenly Brands acquires Burrow as it builds out its portfolio of home brands
Havenly CEO Lee Mayer discusses the company’s fifth acquisition, its multibrand strategy and why she remains bullish on retail.
By Caroline Jansen • Oct. 16, 2024 -
Permission granted by True Value
True Value files for Chapter 11
The 75-year-old brand, whose stores are largely excluded from the bankruptcy, is seeking court approval to sell itself to rival Do it Best for $153 million.
By Nate Delesline III • Oct. 15, 2024 -
Daphne Howland/Retail Dive
Walgreens to close 1,200 stores
The drugstore retailer’s plans reverse its expansion ambitions from a few years ago, when the company attempted to merge with rival Rite Aid.
By Daphne Howland • Oct. 15, 2024 -
Courtesy of 7-Eleven
7-Eleven shuttering over 400 North American stores amid strategic pivot
The retailer also aims to generate $520 million through sale-leasebacks of an undisclosed number of stores as its parent company slashes its profit forecast and spins off noncore segments.
By Brett Dworski • Oct. 11, 2024 -
Retrieved from Choice Market website.
Choice Market to cease operations
The Denver-based retailer filed for Chapter 11 bankruptcy in May and intended to restructure. That plan fell through, CEO Mike Fogarty said.
By Brett Dworski • Oct. 11, 2024 -
Courtesy of The Container Store
The Container Store adopts poison pill
The company announced a limited duration stockholder rights plan after a “rapid and significant” accumulation of stock by a single shareholder.
By Nate Delesline III • Oct. 9, 2024 -
Permission granted by Mattress Firm
Tempur Sealy sues FTC over Mattress Firm acquisition challenge
If the overall deal goes through, Tempur Sealy would sell 176 stores to rival Mattress Warehouse and operate over 2,800 retail stores worldwide.
By Nate Delesline III • Oct. 8, 2024 -
Courtesy of Janie and Jack
Go Global snaps up Hatch maternity brand
The label will team up with Janie and Jack, an upscale children’s apparel retailer the investment platform acquired from Gap Inc. in 2021.
By Daphne Howland • Oct. 8, 2024 -
The Aaron’s Company goes private in $504M deal
Fintech company IQVentures acquired the lease-to-own retailer, which has seen revenue fall over the past year.
By Nate Delesline III • Oct. 7, 2024 -
Daphne Howland/Retail Dive
Another rough year for department stores
The segment is undergoing a quiet shakeup in 2024, with major players pursuing varying degrees of change to their operations.
By Daphne Howland • Oct. 7, 2024 -
Kaarin Vembar/Retail Dive
ColumnThe Weekly Closeout: Belk unveils fresh board of directors and Finish Line to disappear
The regional department store has a new board while the athletics brand’s stores are being rebannered as JD locations.
By Retail Dive Staff • Oct. 4, 2024 -
Daphne Howland/Retail Dive
As Levi’s pivots to DTC, Dockers may be sold
CEO Michelle Gass said the khakis business “has underperformed for some time” and the company wants to focus on its denim and Beyond Yoga brands.
By Daphne Howland • Oct. 3, 2024 -
"Journeys" by Bentley Mall is licensed under CC BY 1.0 / Edited by https://commons.wikimedia.org/w/index.php?title=User:BentleyMall&action=edit&redlink=1/Retail Dive
Genesco taps Tupperware vet as CFO
Sandra Harris will oversee the company’s accounting, financial planning and analysis, investor relations, treasury, procurement and tax functions.
By Howard Ruben • Oct. 3, 2024 -
Cara Salpini/Retail Dive
Nike CFO notes that ‘a comeback at this scale takes time’ as revenue falls 10%
With a new CEO set to take over, the sportswear giant pulled its guidance for the year and stressed the actions it’s already taking to reset the business.
By Cara Salpini • Oct. 2, 2024 -
Mario Tama via Getty Images
CVS to lay off 2,900 employees amid reports of strategic review
CVS is cutting 1% of its workforce as the healthcare behemoth pursues a massive cost-cutting plan — including a potential breakup of its businesses, according to reports.
By Rebecca Pifer • Oct. 1, 2024 -
vgajic via Getty Images
PwC expects 7% bump in average holiday spending, increased traffic to stores
Despite easing inflation, however, consumers remain selective and motivated by price.
By Daphne Howland • Oct. 1, 2024 -
JP Yi via Getty Images
LVMH sells Off-White to Bluestar Alliance
The New York-based brand management company said the acquisition allows it to build on the legacy of label founder Virgil Abloh, who died in 2021.
By Lara Ewen • Oct. 1, 2024 -
Daphne Howland/Retail Dive
J.C. Penney swings into the red as Q2 sales plunge
The department store’s turnaround is focused on working families, which have been especially hard hit by economic challenges like inflation.
By Daphne Howland • Sept. 30, 2024 -
Joe Raedle via Getty Images
Costco CFO targets lower prices amid ‘effectively flat’ inflation
The big-box retailer lowered the cost of its store brand items as high food prices become a hot-button issue in the presidential election.
By Maura Webber Sadovi • Sept. 30, 2024 -
Courtesy of MeUndies
MeUndies names senior vice president of sales
Elizabeth Dunn, who most recently held the same position with Calvin Klein Intimates, will be focused on growing the DTC brand’s wholesale presence.
By Howard Ruben • Sept. 27, 2024 -
Courtesy of Foot Locker, Inc.
Former Foot Locker exec charged with insider trading
Barry Siegel, who was formerly the senior director of order planning management for North America, has agreed to pay almost $236,000 to settle the case.
By Cara Salpini • Sept. 26, 2024 -
Courtesy of Stitch Fix
Stitch Fix expects return to growth in 2 years
CEO Matt Baer said the company’s cost cuts and customer experience changes are paying off, but warned that “transformations take time.”
By Daphne Howland • Sept. 25, 2024
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