Financial News: Page 115
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Bed Bath & Beyond to shutter 200 stores over the next 2 years
The permanent closures come as the home retailer reported first quarter net sales fell nearly 50% year over year to $1.3 billion.
By Caroline Jansen • July 9, 2020 -
Sur La Table files for bankruptcy with plan to sell itself
The kitchen specialist could close more than 40% of its stores in Chapter 11 as it looks to sell itself to another private equity company.
By Ben Unglesbee • July 9, 2020 -
Cara Salpini/Retail Dive
How COVID-19 boosted QVC, HSN and livestreaming
As the veteran telecommerce networks adapt to the challenges of the pandemic, other brands are catching up to the future of livestreaming.
By Tatiana Walk-Morris • July 9, 2020 -
Permission granted by Walgreens
Walgreens invests $1B to open hundreds of primary care clinics
The retail basic care market is still in its formative stages, but competition to quickly build market presence is stiff.
By Rebecca Pifer • July 9, 2020 -
Daphne Howland/Retail Dive
Levi's to cut 700 non-retail jobs as Q2 revenues plummet
The company says it's ready for changes brought on by the pandemic, including the casualization of fashion and new consumer behaviors.
By Daphne Howland • July 8, 2020 -
Courtesy of PR Newswire
Brooks Brothers files for bankruptcy, will close 51 stores
The 202-year-old retailer, once a destination for white-collar professionals, has suffered as office garb has become more casual.
By Daphne Howland • July 8, 2020 -
RTW Retailwinds leaves NYSE
Earlier this week, the retailer, which is likely bound for bankruptcy, went into forbearance on its main credit line, sharpening its financial challenges.
By Ben Unglesbee • July 8, 2020 -
Daphne Howland/Retail Dive
Bloomberg: Ascena preps bankruptcy plan that would close 1,200 stores
The apparel retail conglomerate repeatedly said it had no plans to seek creditor protection, but the challenges of the COVID-19 era are steep.
By Ben Unglesbee • July 8, 2020 -
Daphne Howland/Retail Dive
How to run a store in a pandemic
It's possible to safely operate brick-and-mortar retail, experts say. But with that comes great responsibility, and some consumers aren't making it easy.
By Daphne Howland • July 8, 2020 -
Cara Salpini/Retail Dive
Department stores miss out on Fourth of July consumer attention
Specialty retailers, while giving off-price retailers a run for their money, leaned on promotions to sway shoppers, according to Wedbush analysts.
By Daphne Howland • July 7, 2020 -
Courtesy of Away
Away co-founder Steph Korey will step down as co-CEO in 2020
A company spokesperson said this "was always the succession plan" and is not related to recent social media posts from the co-founder.
By Cara Salpini • July 7, 2020 -
"Arsenal Mall, Watertown MA" by John Phelan is licensed under CC BY 3.0 / Edited by Brian Tucker/Retail Dive
Retail's reopening
From supply issues to category-specific challenges, Retail Dive explores what it means to be operating in a new, and evolving, environment.
By Retail Dive Staff • July 7, 2020 -
RTW Retailwinds gets forbearance after loan default
The retailer, which owns New York & Co., has until the end of August to pay down its entire revolving loan balance.
By Ben Unglesbee • July 7, 2020 -
Cara Salpini/Retail Dive
Pier 1 receives $31M bid for IP, e-commerce business
Retail Ecommerce Ventures LLC beat out private equity firm Sycamore after upping its initial offer of $20 million.
By Caroline Jansen • Updated July 13, 2020 -
Apparel sellers Lucky Brand and G-Star Raw file for bankruptcy
Both brands cited the COVID-19 crisis in exacerbating their financial struggles.
By Ben Unglesbee • July 6, 2020 -
Courtesy of Belk
Belk furloughs end in unspecified number of layoffs, mostly at HQ
A spokesperson said the company's moves to cope with the pandemic have been "some of the most difficult decisions of its 130-year history."
By Daphne Howland • July 6, 2020 -
Daphne Howland/Retail Dive
Nordstrom tells landlords to expect just half their rent until January 2021
The department store acknowledged that it’s modifying rent payments in order to achieve cost cuts to weather the pandemic crisis.
By Daphne Howland • Updated July 10, 2020 -
Cara Salpini for Retail Dive
From 'doing things' to doing things profitably: Outdoor Voices' plans for growth
New board Chairwoman Ashley Merrill doesn't want to change the brand's values, just its operations.
By Cara Salpini • July 2, 2020 -
The image by Massachusetts Office of Travel & Tourism is licensed under CC BY-ND 2.0
Crate and Barrel names new CEO
Janet Hayes, who succeeds Neela Montgomery on Aug. 1, previously held roles at Williams Sonoma and Pottery Barn Kids and Teen.
By Caroline Jansen • Updated July 8, 2020 -
Men's Wearhouse misses $6.1M interest payment on bonds
The retailer, owned by struggling Tailored Brands, faces default if it can't work out a deal with lenders or bring in additional liquidity.
By Ben Unglesbee • July 2, 2020 -
Daphne Howland/Retail Dive
Macy's Q1 loss approaches $4B
The eye-popping tumble is four times the department store's warning last month, as forced closures prompted a $3.2 billion impairment charge.
By Daphne Howland • July 1, 2020 -
David's Bridal names new chief technology officer
The appointment of Danny Luczak comes on top of a slew of tech features the retailer has rolled out in recent months.
By Tatiana Walk-Morris • July 1, 2020 -
Daphne Howland/Retail Dive
The not-so-grand reopening of retail
As COVID-19 cases spike in areas of the U.S., some stores are reclosing, while others struggle to enforce safety precautions.
By Daphne Howland • July 1, 2020 -
Cara Salpini for Retail Dive
Adidas HR chief out as employees seek more diversity
In a statement on her departure, Karen Parkin said that "to unify the organization it would be better for me to retire and pave the way for change."
By Cara Salpini • July 1, 2020 -
Stein Mart gets $10M in stimulus aid as it faces steep losses
The discount retailer is searching for capital, and a potential buyer, amid the COVID-19 crisis, which is forcing it to run down its credit line.
By Ben Unglesbee • July 1, 2020
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