Financial News: Page 21
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Courtesy of Solo Brands
New Solo Brands CEO initiates ‘full strategic review’
Chris Metz says the company will focus in on Solo Stove and Chubbies as it looks to address a lack of product innovation at the company.
By Suzette Parmley • March 19, 2024 -
Permission granted by FabFitFun
FabFitFun acquires PupBox from Petco
The deal both satisfies a need from existing members who have been asking for more pet offerings and allows the company to reach new audiences.
By Caroline Jansen • March 19, 2024 -
Courtesy of Joann
Joann files for Chapter 11 with a plan to cut $500M in debt
Thanks to an agreement with lenders, stores will be open and vendors paid throughout the bankruptcy process, which could be completed next month.
By Daphne Howland , Nate Delesline III • March 18, 2024 -
Joe Raedle via Getty Images
Ballooning credit card balances already loom over 2024’s retail sales
The level of debt may surpass the all-time record this year, even when adjusted for inflation, some analysts say.
By Daphne Howland • March 18, 2024 -
Courtesy of Fossil
Longtime Fossil CEO out as company announces strategic review
The departure of Kosta Kartsotis, who spent over 20 years at the helm, came as the retailer reported Q4 sales falling nearly 16% and losses widening.
By Howard Ruben • March 15, 2024 -
Daphne Howland/Retail Dive
Macy’s moves to beef up real estate expertise on its board
Arkhouse Management, which upped its takeover bid to $6.6 billion, has criticized the retailer for having only one director with a real estate track record.
By Daphne Howland • March 15, 2024 -
Spencer Platt via Getty Images
Adidas posts first annual net loss in over 30 years
However, the retailer dodged a much-discussed operating loss for the year, with the sale of Yeezy merchandise helping it notch a profit.
By Cara Salpini • March 15, 2024 -
Kaarin Vembar/Retail Dive
Ulta to expand into Mexico in 2025
The beauty retailer previously planned to grow into Canada, but ditched those efforts in 2020.
By Cara Salpini • March 15, 2024 -
Daphne Howland/Retail Dive
Macy’s, Arkhouse discuss due diligence following higher takeover bid
The iconic department store could lose an opportunity to improve operations if its real estate holdings become its focus, analysts warn.
By Daphne Howland • March 14, 2024 -
Courtesy of Dollar General
Dollar General plans 800 stores this year as rival Dollar Tree pulls back
Thirty of those will be under its Popshelf banner, though the discount retailer is taking the concept’s expansion slowly given its discretionary focus.
By Nate Delesline III • March 14, 2024 -
Daphne Howland/Retail Dive
After record Q4, Dick’s plans greatest square footage expansion since 2017
The sporting goods retailer is opening eight House of Sport stores in 2024, as well as 16 next-generation locations as it increases store investments.
By Cara Salpini • March 14, 2024 -
Joe Raedle via Getty Images
Peloton CFO leans on cost cutting to reverse post-pandemic slump
Finance chief Liz Coddington is slashing overhead costs and driving more revenue from Peloton’s digital subscription and bike rental businesses.
By Suman Bhattacharyya • March 14, 2024 -
Courtesy of On
On plans 100 more stores in the coming years
The Swiss athletics brand continues to build out its global footprint, opening stores in China, Germany and Latin America as it leans into its DTC channels.
By Suzette Parmley • March 13, 2024 -
Permission granted by Purple
Purple posts sales increase for the first time in 8 quarters
While it has taken a while, the company is “extremely encouraged” by the response to recent product launches intended to broaden its customer base.
By Caroline Jansen • March 13, 2024 -
Dollar Tree, Family Dollar to close 1,000 stores
The company said continued inflation is pressuring Family Dollar's core customer base.
By Nate Delesline III • March 13, 2024 -
Daphne Howland/Retail Dive
Petco in search of a new CEO as Q4 disappoints
Former Best Buy executive Mike Mohan is taking over in the interim as the pet retailer struggles with profitability.
By Daphne Howland • March 13, 2024 -
Caroline Jansen/Retail Dive
Allbirds taps new CEO, plans store closures
COO Joe Vernachio takes over from co-founder Joey Zwillinger on Friday as the DTC brand reported a 15% sales drop in 2023.
By Cara Salpini • March 13, 2024 -
Courtesy of Kohl's
Kohl’s brings in Babies R Us after rough holiday quarter
The struggling department store is increasingly relying on other brands, including Amazon and Sephora, to draw customers to its stores.
By Daphne Howland • March 12, 2024 -
Daphne Howland/Retail Dive
The Body Shop’s US operation forced into liquidation as UK parent takes its cash
The U.S. subsidiary ceased operating as of March 1 and told a bankruptcy court it didn’t get advance notice of its British owner's restructuring.
By Daphne Howland • March 12, 2024 -
Retrieved from Liquid Death.
Liquid Death closes funding round valuing business at $1.4B
The beverage maker said the $67 million in new financing will be used to grow distribution and accelerate product innovation.
By Christopher Doering • March 11, 2024 -
As it plans 90 stores, Ross refocuses DD’s on existing markets
The smaller banner will shift focus and undergo an “in-depth analysis” of its customer base amid disappointing performance in newer markets.
By Nate Delesline III • March 11, 2024 -
Roy Rochlin via Getty Images
Funko chief financial and operating officer to step down as toymaker preps for ‘softer’ content schedule
Steve Nave’s resignation comes as the company continues to brace for economic headwinds.
By Grace Noto • March 11, 2024 -
Cara Salpini/Retail Dive
American Eagle has ‘refocused’ logistics arm amid third-party business woes
The retailer faced $98.3 million in impairment and restructuring charges from Quiet Platforms in Q4 as it adjusted to reduced e-commerce fulfillment demand.
By Max Garland • March 8, 2024 -
Spencer Platt via Getty Images
New York Stock Exchange moves to delist apparel retailer Express
Concerns about the company’s long-term financial health have continued to surface over the last year.
By Nate Delesline III • March 8, 2024 -
Courtesy of BowFlex
ColumnThe Weekly Closeout: BowFlex files for Chapter 11, Public Lands partners with Saucony
The at-home fitness company has a $37.5 million buyout offer, and the Dick’s Sporting Goods banner teamed up with the footwear brand on running shoes.
By Retail Dive Staff • March 8, 2024
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