Financial News: Page 112
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Capri, Ralph Lauren quarterly results indicate widespread damage to apparel sales
Even consumers better insulated from the pandemic's financial fallout are reserving their discretionary funds for items in other categories.
By Daphne Howland • Aug. 5, 2020 -
Wayfair makes a profit as Q2 sales spike 84%
The pandemic drove online buying and home office setups, which gave the e-retailer a big boost. But the costs of its business model remain high.
By Ben Unglesbee • Aug. 5, 2020 -
New York & Co. parent sells e-commerce business, IP for $20M
RTW Retailwinds, which has struggled amid declining apparel sales, found a buyer in clothing company Sunrise Brands.
By Daphne Howland • Aug. 5, 2020 -
Courtesy of EBay
EBay, Prova Group partner on sports memorabilia authentication
The marketplace joins Amazon and others in setting up measures to combat the sale of counterfeit goods, one of the biggest threats to resale.
By Tatiana Walk-Morris • Aug. 5, 2020 -
Permission granted by 7-Eleven
7-Eleven to acquire Speedway for $21B
The acquisition is the largest in 7-Eleven's history and will bring its total number of store locations in the U.S. and Canada to nearly 14,000.
By Kaarin Moore • Aug. 4, 2020 -
Courtesy of Hudson Group
Hudson slashes workforce in anticipation of second COVID-19 wave
Executives at the airport retailer don't expect travel to return to normal until 2023, and are turning to vending machines for sales in North America.
By Daphne Howland • Aug. 4, 2020 -
Daphne Howland/Retail Dive
What happened to Lord & Taylor
The country's oldest department store, a chic destination for the middle class, came through wars, depressions and pandemics. It couldn't survive neglect.
By Daphne Howland • Aug. 4, 2020 -
Courtesy of Kendo Brands
Three years after Fenty Beauty, Rihanna debuts Fenty Skin
Aimed at inclusivity, the products were tested on all skin tones and types, and are also built around key trends like sustainability and clean ingredients.
By Cara Salpini • Aug. 4, 2020 -
Daphne Howland/Retail Dive
Lord & Taylor to permanently close 19 stores
The department store and owner Le Tote, an apparel rental site, are still operating, and the company said it's seeking a buyer for both businesses.
By Daphne Howland • Aug. 4, 2020 -
Tailored Brands files Ch. 11
The parent company of Men's Wearhouse and Jos. A. Bank plans to reduce its store footprint while it remains open through the bankruptcy process.
By Kaarin Moore • Aug. 3, 2020 -
Chico's declares bankruptcy in Canada
The struggling women's apparel retailer will permanently close all 10 stores in the country as part of its effort to contain costs and outlast the pandemic.
By Daphne Howland • Aug. 3, 2020 -
Daphne Howland/Retail Dive
Lord & Taylor files for bankruptcy
New owner Le Tote had given the oldest department store in the U.S. and its 38 locations a rare ray of hope when it acquired it for $75 million last year.
By Daphne Howland • Aug. 3, 2020 -
Daphne Howland/Retail Dive
Deep DiveWhat the pandemic has done to Nordstrom's revamp
This was the year the retailer planned to expand its ecosystem concept and redefine the department store. Instead it's scrambling like everyone else.
By Daphne Howland • Aug. 3, 2020 -
Kaarin Vembar/Retail Dive
Under Armour beats on revenue, but expects 'highly promotional environment' ahead
There will likely be more volume in the off-price channel as retailers try to shed excess inventory, which could mean even steeper discounts.
By Cara Salpini • July 31, 2020 -
Courtesy of DSW
Designer Brands cuts over 1K positions
The retailer is eliminating some jobs and reassigning others to focus on its warehouse operations.
By Kaarin Moore • July 31, 2020 -
(July 31, 2020). "Coldwater Creek closes" [Screenshot]. Retrieved from Coldwater Creek website.
Coldwater Creek shuts down
The Sycamore Partners-owned apparel retailer said its stores and website are closed after COVID-19 "led us down a path we were not expecting."
By Ben Unglesbee • July 31, 2020 -
Courtesy of Walmart
Walmart cuts corporate jobs as it focuses on omnichannel push
Changes in the retail giant's merchandising and other teams have led to hundreds of layoffs, according to Bloomberg.
By Ben Unglesbee • July 31, 2020 -
Pandemic fuels demand, Prime membership in Amazon Q2
The surge in demand was largely in low-margin grocery and consumables and strained the e-commerce giant's fulfillment capacity, which it will expand.
By Daphne Howland • July 31, 2020 -
Screenshot of C-Span broadcast of U.S. House Judiciary Committee hearing with tech CEOs
Bezos faces US House Judiciary Committee over marketplace fairness, counterfeits
Amazon's CEO and founder defended its third-party sales and touted advantages for both consumers and sellers, but he didn't have all the answers.
By Daphne Howland • July 30, 2020 -
Overstock's sales get a 109% boost from pandemic shopping
The retailer, after struggling in recent years, was uniquely positioned as an e-commerce player to take advantage of consumers stuck at home.
By Ben Unglesbee • July 30, 2020 -
J.C. Penney looks to sell itself in bankruptcy
Separate bidders are lining up for the department store, which hopes to sell itself quickly and exit Chapter 11 a slimmer, healthier business.
By Ben Unglesbee • July 30, 2020 -
Kendall Davis/Retail Dive
Podcast
The Backroom: When retailers issue mask requirements
Without federal face mask guidelines, retailers like Walmart, Target and Best Buy have had to introduce their own measures.
By Caroline Jansen • July 30, 2020 -
Courtesy of J. Jill Inc.
J. Jill to close stores as Q1 sales, profits plunge
Sales were already suffering before the disease outbreak, and the retailer's future is now in doubt.
By Daphne Howland • July 29, 2020 -
Courtesy of Nike
Nike names new diversity chief
Felicia Mayo will replace Kellie Leonard with a new title that brings talent, diversity and inclusion, and culture under one roof.
By Cara Salpini • July 29, 2020 -
Courtesy of L Brands
L Brands to slash 850 home office jobs
The company said it will beat expectations in the second quarter, and reiterated plans to separate Victoria's Secret and Bath & Body Works.
By Daphne Howland • July 29, 2020
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