Financial News: Page 13
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Courtesy of The Home Depot
SRS Distribution deal helps Home Depot return to sales growth in Q2
Even as the retailer raised full-year guidance, it continues to feel the impact of a challenging housing market and broader economic uncertainty.
By Nate Delesline III • Aug. 13, 2024 -
Courtesy of On
Like Nike before it, On plans to grow margins via DTC sales
A nine-fold boost to profits in Q2 nevertheless missed some analysts’ expectations, as margins inched up only slightly.
By Daphne Howland • Aug. 13, 2024 -
Marina Demidiuk via Getty Images
Toy sales stabilize in first half of year
“The tide is turning for the industry,” according to a new report from Circana. But there are no guarantees for the second half of 2024.
By Kaarin Moore • Aug. 13, 2024 -
Permission granted by Grove Collaborative
In latest effort to trim costs, Grove Collaborative switches to Shopify
The sustainably-minded consumer products company reported expanded margins and narrowed losses in Q2, but sales and active customers declined.
By Daphne Howland • Aug. 13, 2024 -
"Lumber Liquidators store, 2321 Ellsworth Road, Ypsilanti Township, Michigan." by Dwight Burdette is licensed under CC BY 3.0
LL Flooring files for bankruptcy with plans to close 94 stores
The company is pursuing a sale of its business and said it has a commitment for $130 million in debtor-in-possession financing from existing lenders.
By Nate Delesline III • Aug. 12, 2024 -
Funko delivers first sales growth, profit in almost 2 years
Yves LePendeven, who was serving as acting CFO since March, was also named to take over the role permanently.
By Nate Delesline III • Aug. 9, 2024 -
Daphne Howland/Retail Dive
Warby Parker notches highest e-commerce growth in 13 quarters
With e-commerce revenue growth of 4.4% in Q2, the DTC eyewear brand is making progress against the goals it outlined at the start of the year.
By Caroline Jansen • Aug. 9, 2024 -
Kaarin Vembar/Retail Dive
Under Armour sales fall 10% as Kevin Plank vows to sell more than ‘just a logo’
“We recognize where we are, we’re not crazy about it, but we’re also doing something to change the weather,” the executive said Thursday.
By Cara Salpini • Aug. 8, 2024 -
Tempur Sealy CEO ‘confident’ in acquiring Mattress Firm despite FTC challenge
Amid a drop in Q2 sales, Scott Thompson said the company has agreements with Mattress Firm suppliers that will go into effect after the deal’s closing.
By Tatiana Walk-Morris • Aug. 8, 2024 -
Denton Harryman. (2022). "The Allbirds store in the SouthEnd district new uptown Charlotte." [Photograph]. Retrieved from Flickr.
Store closures a factor in Allbirds Q2 sales nosedive
Executives said new designs are performing well, but the DTC footwear brand’s sales fell 27% in the period.
By Daphne Howland • Aug. 8, 2024 -
Keith Tsuji via Getty Images
VF revenue remains down despite ‘modest improvement’ at Vans
The struggling sneaker brand is showing signs of recovery in Europe, the Middle East and Africa, as its holding company works to boost its desirability.
By Laurel Deppen • Aug. 8, 2024 -
Courtesy of Hilco Merchant Resources
UK retailer Mountain Warehouse offers $5M stalking horse bid for Eastern Mountain Sports
Absent a higher offer, the U.K.-based outdoor gear retailer plans to keep less than half of the chain’s stores running.
By Daphne Howland • Aug. 7, 2024 -
The Container Store sales fall 12% in Q1
The results for the quarter, which included online sales decreasing nearly 26%, show a company "that remains in freefall," according to one analyst.
By Nate Delesline III • Aug. 7, 2024 -
Courtesy of ThredUp
ThredUp to exit Europe
The secondhand apparel company is also exploring strategic alternatives for Remix. Meanwhile, it reported a drop of nearly 4% in revenue in Q2.
By Kaarin Moore • Aug. 7, 2024 -
Justin Sullivan via Getty Images
Prestige beauty sales continue to outpace mass with 8% growth in the first half of the year
High-end fragrance was a bright spot, rising 12%, but its popularity is also driving sales of mass products and private-label dupes.
By Tatiana Walk-Morris • Aug. 7, 2024 -
Daphne Howland/Retail Dive
Simon malls notch Q2 gains in occupancy, traffic and retail sales
But net operating income at the REIT’s retailer portfolio, which includes J.C. Penney, Gilt Groupe and the entity that runs Forever 21, declined again.
By Daphne Howland • Aug. 6, 2024 -
Tibrina Hobson via Getty Images
Funko agrees to $2M settlement to resolve claims it misled investors
Multiple lawsuits claim the company failed to disclose sales and operational troubles — and that executives used inside information to enrich themselves.
By Daphne Howland • Aug. 6, 2024 -
Nate Delesline III/Retail Dive
Big Lots may close up to 315 stores
The retailer requires “significant changes to the business model to continue as a going concern,” analysts said.
By Nate Delesline III • Aug. 5, 2024 -
Daphne Howland/Retail Dive
Amazon’s retail sales growth ebbs in Q2
Advertising and services, including the blockbuster cloud unit, remain the center of growth and profits for the e-commerce giant.
By Daphne Howland • Aug. 2, 2024 -
Courtesy of Fred Segal
ColumnThe Weekly Closeout: Fred Segal closes remaining stores and Foxtrot plots its comeback
Los Angeles fashion loses a retail icon and after abruptly closing stores this spring, Foxtrot team members promise a return to the company’s roots.
By Retail Dive Staff • Aug. 2, 2024 -
HEYDUDE
Crocs expects a big end-of-year bounce at HeyDude
The company said new stores and wholesale deals will boost the struggling DTC brand. Meanwhile its namesake approached $1 billion in Q2 revenue.
By Daphne Howland • Aug. 1, 2024 -
Courtesy of Etsy
Etsy to launch paid buyer membership program
Etsy Insider, which comes as Q2 sales rise 3%, includes benefits like free domestic shipping on “millions” of items — at no cost to sellers.
By Tatiana Walk-Morris • Aug. 1, 2024 -
Caroline Jansen/Retail Dive
Wayfair revenue down 1.7% in Q2 as category remains challenged
But the online home goods retailer was able to narrow its losses and CEO Niraj Shah said a turnaround in the sector could be on the horizon.
By Caroline Jansen • Aug. 1, 2024 -
Cara Salpini for Retail Dive
Adidas CEO: ‘You have to be more American to be successful in America’
With sales in North America down 7% in Q2, CEO Bjørn Gulden said the athletics retailer is leaning into American sports like basketball and baseball.
By Cara Salpini • July 31, 2024 -
Courtesy of Brooks Running
Brooks Running reports ‘record’ revenue
Global revenue in Q2 increased 15% year over year driven by its wholesale and DTC channels, and the athletics brand named a new COO.
By Tatiana Walk-Morris • July 31, 2024
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