Financial News: Page 130
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Target poised to be a top e-commerce player in 2020
The retailer's investments are "paying off," while Amazon still commands the lion's share of the market, according to eMarketer.
By Ben Unglesbee • Feb. 25, 2020 -
Macy's beats low expectations for Q4
Sales and profits fell, but not as much as feared, as executives gear up for the retailer's latest attempt to transform in an ailing department store sector.
By Ben Unglesbee • Feb. 25, 2020 -
Rue21 CEO exits
Interim CEO John Fleming brings with him exec experience from Walmart and Uniqlo, and says the teen apparel retailer is ready for its next stage of growth.
By Kaarin Moore • Feb. 25, 2020 -
Modell's to close 19 stores, offer up minority stake
CEO Mitchell Modell said in a statement Monday that the athletics retailer was looking for outside investment to help save the business.
By Cara Salpini • Feb. 25, 2020 -
Guitar Center downgraded as gains fail to reduce debt load
The musical instrument retailer has grown its sales and underlying profitability, but can't shake its leverage, according to Moody's analysts.
By Ben Unglesbee • Feb. 24, 2020 -
Outdoor Voices cuts jobs as founder Tyler Haney resigns
Haney's exit from the brand comes just days after the company announced she would step down from the CEO role.
By Cara Salpini • Updated Feb. 26, 2020 -
Next 100: Sephora's head of stores talks expansion
Jeff Gaul shares how the retailer chose its next wave of locations to open and what it was like redesigning Sephora for a smaller format.
By Cara Salpini • Feb. 24, 2020 -
Adidas, Ikea lead on sustainable cotton sourcing
The athletic retailer knocked H&M down from the top spot, according to the latest Sustainable Cotton Ranking, which looked at a group of 77 firms.
By Emma Cosgrove • Feb. 24, 2020 -
L Brands CEO Les Wexner to step down as private equity takes over Victoria's Secret for $525M
Sycamore Partners' stake takes the lingerie brand private, leaving better-performing Bath & Body Works to prosper on its own.
By Daphne Howland • Feb. 20, 2020 -
Sephora 'not moving forward' with Sephora Studio concept
The smaller store format focused on services and a curated assortment. Now, the beauty retailer will focus its footprint elsewhere.
By Cara Salpini • Feb. 20, 2020 -
Pier 1's moment of truth
Any number of things could happen to the retailer at this point: reorganization, a sale, disassembly or liquidation. The coming weeks will determine its fate.
By Ben Unglesbee • Feb. 20, 2020 -
Christopher & Banks, RTW top S&P list of most vulnerable retailers
Nordstrom edged onto the list, taking the No. 15 slot, as the department store struggles to maintain sales growth.
By Ben Unglesbee • Feb. 20, 2020 -
New Forever 21 owners in search of a CEO
Authentic Brands Group and mall landlords Simon and Brookfield took over from the retailer's founders Thursday, as fast fashion falters.
By Daphne Howland • Feb. 20, 2020 -
Nike's new CEO shuffles C-suite
The athletic brand gets a new COO, CFO, and president of consumer and marketplace to replace two top executives who will retire.
By Cara Salpini • Feb. 19, 2020 -
Bed Bath & Beyond lays out $1B turnaround plan
Last week the retailer said holiday comp sales were down 5.4% due in part to foot traffic declines. Now the retailer plans to invest up to $400 million in stores.
By Caroline Jansen • Feb. 19, 2020 -
Mattel to reduce SKUs 30% by the end of the year
Simplifying its supply chain, which included factory closures and predictive algorithms for forecasting, resulted in $797 million in 2019 cost savings.
By Emma Cosgrove • Feb. 19, 2020 -
Macy's downgraded as 'Polaris' strategy begins
Ratings cuts from S&P Global pushed the retailer's debt out of investment grade territory, even as analysts signaled patience with its turnaround.
By Daphne Howland • Feb. 19, 2020 -
M.M.LaFleur pulls back on plus-size apparel
Plus sizes make up less than 5% of the company's revenue. "We have struggled to find the reach that we had hoped for," said CEO Sarah LaFleur.
By Kaarin Moore • Feb. 19, 2020 -
Pier 1 files for Chapter 11
The home goods retailer has already begun looking for buyers to sell itself in bankruptcy.
By Caroline Jansen • Feb. 18, 2020 -
Walmart posts 'tepid' Q4 as toys, apparel sales fall short
The retailer missed expectations for sales during the quarter, but executives and analysts still see a strong underlying business.
By Ben Unglesbee • Feb. 18, 2020 -
Two months into 2020, 6 retailers have named or laid off a CMO
Shuffling in the role comes after a record year of CEO departures, and includes the likes of Gap, Lululemon and Tailored Brands.
By Cara Salpini • Feb. 18, 2020 -
Bed Bath & Beyond sells keepsakes site to 1-800-Flowers for $252M
The struggling retailer bought PersonalizationMall.com in 2016 for $190 million. Analysts hailed the sale, and called for even more.
By Daphne Howland • Feb. 18, 2020 -
The Body Shop to begin 'open hiring,' skipping background checks
Under the model, job openings will be filled on a first-come, first-served basis by any applicant who meets basic requirements.
By Ryan Golden • Feb. 18, 2020 -
Former Ascena exec named CEO of Francesca's
Andrew Clarke spent two years at the apparel conglomerate, most recently at Loft, and takes the reins at the retail chain after a tough year.
By Daphne Howland • Feb. 14, 2020 -
Wayfair lays off 550 employees
The job cuts, which impact about 3% of its global workforce, come as the online home goods retailer struggles to become profitable.
By Caroline Jansen • Feb. 14, 2020