Financial News: Page 135
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Court rules Walmart must pay drivers $54.6M for layover, break time
The drivers filed a class-action suit seeking back pay for time spent in layover, on break or in inspections.
By Matt Leonard • Jan. 9, 2020 -
Lowe's
Ex-Taco Bell brand chief Marisa Thalberg lands at Lowe's
In a statement, the retailer's CEO, Marvin Ellison, called out Thalberg's expertise in building "culturally resonant brands."
By Peter Adams • Jan. 8, 2020 -
Walgreens centers strategy on cost cuts
The drugstore's problem lies in outdated stores, where its greatest retail strength, beauty, underperformed against the wider market.
By Daphne Howland • Jan. 8, 2020 -
Kohl's shares downgraded by Cowen as it faces sales, margin pressures
The department store has plenty working in its favor but plays in a troubled sector and needs to find ways to win over younger shoppers, analysts say.
By Ben Unglesbee • Jan. 8, 2020 -
Bloomscape
West Elm partners with DTC plant brand Bloomscape
The collaboration marks the direct-to-consumer company's first with a major retailer and follows a late 2019 Series A funding round of $7.5 million.
By Caroline Jansen • Jan. 8, 2020 -
Macy's says it will close 29 stores
While its holiday sales decline wasn't as steep as feared, the department store is once again reducing its fleet.
By Daphne Howland • Jan. 8, 2020 -
Pier 1 to close up to 450 locations
The decision to reduce its footprint by nearly half follows a report the retailer is cutting corporate staff by 40% and has drafted a bankruptcy plan.
By Caroline Jansen • Jan. 7, 2020 -
Target
Placer.ai: Target, Bed Bath & Beyond, CVS and Ulta poised to win in 2020
Some of the strongest players in their sectors could make even more gains, while the industry watches to see if Bed Bath & Beyond can turn itself around.
By Ben Unglesbee • Jan. 7, 2020 -
Avon names new CEO
The appointment of Angela Cretu, who has been with the company for more than 20 years, comes as Natura closed a deal to acquire the cosmetics brand.
By Kaarin Moore • Jan. 7, 2020 -
Forever 21 relaunches international e-commerce
In partnership with cross-border e-commerce platform Global-e, the bankrupt fast-fashion retailer aims to capture sales after closing most overseas stores.
By Daphne Howland • Jan. 7, 2020 -
Bed Bath & Beyond strikes real estate deal worth $250M
The proceeds from the sale-leaseback transaction will be used in part to repay a portion of the retailer's $1.5 billion worth of debt.
By Caroline Jansen • Jan. 6, 2020 -
HBC shareholders overwhelmingly approve take-private deal
The Canadian retailer will exit the Toronto exchange in early March and attempt a turnaround out of the public sphere.
By Ben Unglesbee , Daphne Howland • Updated Feb. 28, 2020 -
Ikea ends US sales on Amazon
The Swedish furniture retailer is among the latest to exit the marketplace, following Nike's recent departure from the platform.
By Caroline Jansen • Jan. 6, 2020 -
Courtesy of Nordstrom
Nordstrom rises as JP Morgan boosts stock target
The retailer is showing how Local stores and other inventory strategies are differentiating it from its department store peers.
By Daphne Howland • Jan. 6, 2020 -
Lowe's to hire more than 53K this spring
The announcement comes just months after the retailer reportedly told "thousands" of store-level workers it was eliminating their positions.
By Caroline Jansen • Jan. 3, 2020 -
Courtesy of Hudson Group
Retailers led job cuts in 2019
December's downsizing decreased, however, thanks to a "wait and see" approach going into 2020, according to Challenger, Gray & Christmas.
By Daphne Howland • Jan. 3, 2020 -
Shutterstock
Toms Shoes creditors take ownership of the company
The shoe seller that touts its giving model has been struggling under its debt load, but it got a deal done outside of bankruptcy.
By Ben Unglesbee • Jan. 2, 2020 -
Kendall Davis for Retail Dive
Will Gap really spin off Old Navy?
The brands' business models and customer bases have diverged, so the company's CEO decided each needs its own strategy. But he's no longer there.
By Daphne Howland • Dec. 30, 2019 -
2019 on pace for most CEO departures
While chief executive exits were down in November from the prior month, the entire year tracks 12% more than 2018, according to Challenger, Gray & Christmas.
By Lisa Rowan • Dec. 26, 2019 -
GameStop downgraded by Moody's as retailer faces 'sustained competitive threats'
The latest downgrade follows a punishing holiday season for the gaming specialist.
By Ben Unglesbee • Updated Feb. 3, 2020 -
Store closures pass 9K in 2019
Bankruptcies, liquidations and less dramatic footprint tinkering drove the closure count more than 60% higher than in 2018, according to Coresight Research.
By Ben Unglesbee • Dec. 23, 2019 -
David's Bridal names first chief digital experience officer
The move comes as the retailer steadies itself after a year of financial upheaval.
By Tatiana Walk-Morris • Dec. 23, 2019 -
Courtesy of Nike
Nike CEO Mark Parker's last report marked by first $1B quarter for Jordan
On Jan. 13, Parker will step into the role of executive chairman. He exits the chief executive role after a $10 billion second quarter.
By Cara Salpini • Dec. 20, 2019 -
Tractor Supply promotes former Sears exec to SVP of e-commerce
Letitia Webster will lead e-commerce, omnichannel and data management operations for the retailer.
By Tatiana Walk-Morris • Dec. 20, 2019 -
Flickr
BJ's names new CEO
Lee Delaney will take over the top role in February, while current chief executive Christopher Baldwin will become executive chairman.
By Jeff Wells • Dec. 20, 2019
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