Financial News: Page 15
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Permission granted by Chewy
ColumnThe Weekly Closeout: Chewy plans $500M share buyback, Conn’s receives Nasdaq delinquency notice
The online pet retailer agreed to repurchase shares from its largest shareholder, while the home retailer received the notification after not filing its latest quarterly report.
By Retail Dive Staff • June 28, 2024 -
Scott Olson via Getty Images
Walgreens to close ‘significant’ number of US stores
The company is reviewing about 25% of its 8,700 domestic stores, with profitability and level of shrink factoring into which locations stay open.
By Rebecca Pifer • June 27, 2024 -
Courtesy of Amazon
Amazon market cap reaches $2 trillion
As the company reaches a financial milestone, it is reportedly developing a budget marketplace to compete with Temu and Shein.
By Nate Delesline III • June 27, 2024 -
Daphne Howland/Retail Dive
Levi’s DTC growth speeds up in Q2 as wholesale improves
The iconic jeans maker is responding to demand for looser fits and non-denim categories and plans to expand its global footprint by 70 new stores.
By Daphne Howland • June 27, 2024 -
Justin Sullivan via Getty Images
Consumers splurge on cosmetics online despite inflation: report
While shoppers are trading down in categories like electronics and apparel, they’re continuing to buy luxury goods like fragrances and lipsticks, Adobe Analytics found.
By Howard Ruben • June 27, 2024 -
Daphne Howland/Retail Dive
Lawsuit claims Nike CEO John Donahoe misled investors about the success of its DTC strategy
The lawsuit alleges that Donahoe and Chief Financial Officer Matt Friend continually touted the strength of its strategy when in fact it was “unable to generate sustainable revenue growth.”
By Cara Salpini • June 25, 2024 -
Courtesy of Stripes Beauty
L Catterton acquires Naomi Watts’ Stripes Beauty
As part of the deal, the brand has named ex-Revlon CEO Debra Perelman as executive chair.
By Howard Ruben • June 25, 2024 -
DTC EBIT margins ‘meaningfully below’ wholesale, per report
BMO Capital Markets found that brands that grew DTC did not see a notable increase in revenue, merchandise margins, EBIT margins or EBIT dollars.
By Howard Ruben • June 24, 2024 -
Under Armour to pay $434M to settle lawsuit that claimed Kevin Plank misled investors
If approved, the agreement requires the retailer to keep its CEO and chair roles separate for three years and install a performance-based condition for some executive stock benefits.
By Cara Salpini • June 24, 2024 -
Permission granted by Stanley
Arc’teryx, Stanley among fastest-growing outdoor brands
A report from Circana found the two brands led the apparel and equipment accessories segments, respectively, with strong year-over-year growth.
By Cara Salpini • June 24, 2024 -
Daphne Howland/Retail Dive
J.C. Penney Q1 loss widens as sales fall 8%
The department store’s start to the year was fairly weak, though improvements to merchandise and some stores have paid off, GlobalData said.
By Daphne Howland • June 24, 2024 -
Courtesy of Big Lots
ColumnThe Weekly Closeout: Big Lots issues ‘going concern’ warning and Amazon ditches plastic air pillow packaging
The discount retailer said it may not meet its credit and term loan obligations, while Amazon aims to drop plastic air pillows in North American shipments by the holidays.
By Retail Dive Staff • June 21, 2024 -
Courtesy of Care/of
Care/of is shutting down
The vitamin and supplement company said it no longer has the needed funding to operate and has canceled all existing subscriptions.
By Caroline Jansen • June 17, 2024 -
Courtesy of Bark, Inc.
ColumnThe Weekly Closeout: GameStop raises $2B and Bark Air has a ruff start
The meme stock frenzy continues to be kind to the gaming retailer, while Bark’s new airline effort faced a lawsuit within its first month of operation.
By Retail Dive Staff • June 14, 2024 -
Daphne Howland/Retail Dive
Torrid moves toward 50-50 mall split as sales fall 5%
CEO Lisa Harper said that while 65% of the apparel retailer’s stores are currently inside malls, shoppers are increasingly going off-mall.
By Nate Delesline III • June 14, 2024 -
Courtesy of Lego
Adults account for more toy sales than preschoolers: report
Nearly half of shoppers over the age of 18 purchased a toy for themselves in the past year, according to a report by Circana.
By Kaarin Moore • June 13, 2024 -
Daphne Howland/Retail Dive
Ryan Cohen dodges Bed Bath & Beyond shareholder lawsuit
Claims that the activist investor collected “short-swing” profits, leaving shareholders holding the bag, are moot, a judge ruled Tuesday.
By Daphne Howland • June 12, 2024 -
Nate Delesline III/Retail Dive
Five Below wants employees to handle 75% of checkouts
Despite Q1 performance that missed expectations, the company still sees a path to more than double its store count by 2030.
By Nate Delesline III • June 11, 2024 -
Courtesy of Garnet Hill
Qurate faces Nasdaq delisting
The struggling company, which runs home shopping networks QVC and HSN and a small brand portfolio, has until Dec. 9 to regain share price compliance.
By Daphne Howland • June 11, 2024 -
Courtesy of HanesBrands
HanesBrands sells Champion to Authentic Brands Group
The proceeds of the $1.2 billion sale will be used to pay down debt.
By Laurel Deppen • June 10, 2024 -
Shutterstock/bbernard
Sponsored by TeleperformanceThe role of strategic partnership management and rebadging in transformation and enhanced CX
The retail industry saw a drop in new global in-house centers last year. See why strategic business process services partnerships may be more appealing, and how to use them to unlock long-term value.
By Mike Lytle, North America CEO, Teleperformance • June 10, 2024 -
Daphne Howland/Retail Dive
GameStop Q1 sales drop 29% as it issues new stock offering
The video game-focused retailer plans to capitalize again on meme stock interest by selling 75 million more shares.
By Nate Delesline III • June 7, 2024 -
Courtesy of Claire's, Hello Kitty
ColumnThe Weekly Closeout: Kirkland’s explores strategic alternatives as Claire’s celebrates Hello Kitty
The home retailer is also instituting a cost-savings plan as sales fell 5% in Q1. Meanwhile, the tween brand is honoring the iconic character’s 50th anniversary.
By Retail Dive Staff • June 7, 2024 -
Courtesy of Big Lots
Big Lots may be making more turnaround progress than it seems
Despite double digit sales declines and rising debt levels, one analyst says the bad consumer backdrop is masking its improvements.
By Nate Delesline III • June 6, 2024 -
Kaarin Vembar/Retail Dive
Lululemon CEO says it missed opportunities in the women’s business in Q1
A narrow color palette and insufficient inventory in smaller sizes contributed to slower growth in the U.S., though overall revenue was still up 10%.
By Cara Salpini • June 6, 2024
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