Financial News: Page 22
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Courtesy of Gap Inc.
Gap, Old Navy make progress on long road to recovery
New Gap Inc. CEO Richard Dickson touted market share gains at the company’s biggest brands, but analysts say they have further to go.
By Daphne Howland • March 8, 2024 -
Big Lots’ cost-cutting efforts helped it ‘maintain liquidity through a challenging period’
CEO Bruce Thorn also said the retailer is expanding its assortment of bargain merchandise, which is expected to account for 75% of sales in 2024.
By Nate Delesline III • March 7, 2024 -
Courtesy of Ashley Furniture Industries
Ashley Home acquires Nectar mattress owner Resident Home
As part of the deal, Resident co-founders and co-CEOs Eric Hutchinson and Ran Reske will remain in their current positions.
By Howard Ruben • March 7, 2024 -
Daphne Howland/Retail Dive
Beyond Inc. acquires Zulily brand for $4.5M
The Overstock and Bed Bath & Beyond parent company purchased the online discount retailer to further position itself in the off-price market.
By Kaarin Moore • March 7, 2024 -
Courtesy of Birkenstock
Birkenstock’s expanding production capacity lifts sales as it eyes more growth ahead
The footwear brand plans to double capacity in the next three years, spending tens of millions of dollars along the way.
By Ben Unglesbee • March 7, 2024 -
Permission granted by Il Makiage
Oddity pushes forward with new brands as it posts 44% revenue growth in Q4
The Il Makiage and SpoiledChild owner finished 2023 on a high note, swinging to a profit in the fourth quarter, and plans to launch two brands in 2025.
By Caroline Jansen • March 7, 2024 -
Scott Olson via Getty Images
Amid tepid results, Foot Locker turns to store revamps and immersive concepts
The retailer is overhauling most of its namesake and Kids Foot Locker fleet while it invests in new store concepts.
By Cara Salpini • March 6, 2024 -
Daphne Howland/Retail Dive
Citing momentum over the holidays, Nordstrom moves deeper into off-price
The retailer will open even more of its Rack stores this year than in 2023, but analysts warned that its full-line business also requires attention.
By Daphne Howland • March 6, 2024 -
Courtesy of Arc'teryx
Amer Sports reports double-digit sales growth in first earnings post-IPO
Sales at the sporting goods company surged 23% last year as Arc’teryx led the technical apparel segment to 45% growth.
By Cara Salpini • March 6, 2024 -
Courtesy of Target
Target to launch paid membership program to rival Amazon Prime, Walmart+
Target Circle 360 will cost $99 a year and comes as the retailer plans 300 new stores in the coming decade.
By Nate Delesline III • March 5, 2024 -
Courtesy of The Container Store
S&P downgrades The Container Store, citing ‘weak operating performance’
Plaguing the retailer are persistent sales declines, nearing debt maturities, consumer headwinds and negative free cash flow.
By Cara Salpini • March 5, 2024 -
Courtesy of Stitch Fix
Stitch Fix hints at new client experience as declines persist
The apparel box e-retailer lowered its guidance for its full fiscal year, ending in July, and CEO Matt Baer asked for patience with its transformation.
By Daphne Howland • March 5, 2024 -
Courtesy of Bark
Bark regains compliance with the New York Stock Exchange
The pet retailer in November received a notice that said it no longer met the exchange’s continued listing requirements.
By Howard Ruben • March 5, 2024 -
Courtesy of Oishii
Vertical strawberry grower Oishii clinches $134M amid indoor farming woes
The company’s CEO said its decision to grow artisanal fruit versus leafy greens has allowed it to avoid the financial difficulties facing others in the sector.
By S.L. Fuller • March 4, 2024 -
Daphne Howland/Retail Dive
Investors throw another $800M onto Macy’s takeover bid
Arkhouse Management and its partners have upped their offer to $6.6 billion despite the department store’s refusal to share financial information.
By Daphne Howland • March 4, 2024 -
Daphne Howland/Retail Dive
Best Buy braces for layoffs, store closures amid flat revenue in Q4
The retailer plans to invest heavily this year in improving its in-store merchandising and shopping experience.
By Nate Delesline III • March 1, 2024 -
New majority-stake owners of The Children’s Place come through with funds, shake up board
Saudi investment firm Mithaq Capital is providing $78.6 million in interest-free, unsecured and subordinated term loans, starting Thursday.
By Daphne Howland • March 1, 2024 -
The image by Stilfehler is licensed under CC BY-SA 4.0
ColumnThe Weekly Closeout: Thrasio files Ch. 11 bankruptcy and will Macy’s close its San Francisco flagship?
The e-commerce aggregator will eliminate hundreds of millions of dollars in debt, while the department store is evaluating its real estate assets.
By Retail Dive Staff • March 1, 2024 -
Courtesy of Qurate Retail Inc.
Qurate Retail Group looks to streaming growth as Q4 revenue declines
The company this week also announced that QVC U.S. chief merchant Stacy Bowe is HSN’s new president.
By Nate Delesline III • Feb. 29, 2024 -
Courtesy of The Container Store
The Container Store lays off 100 employees amid ongoing sales declines
The move affects about 2.5% of the retailer’s workforce and follows lowered guidance for its fiscal year, which ends in a month.
By Daphne Howland • Feb. 29, 2024 -
(Drew Angerer/Staff) via Getty Images
Beyond Meat plans steep cost cuts as US demand remains weak
The company lowered prices to entice budget-conscious shoppers, but now plans some increases to help restore margins.
By Elizabeth Flood • Feb. 29, 2024 -
Nate Delesline III/Retail Dive
Family Dollar to pay $41.7M for issues tied to rat-infested warehouse
The discount retailer pleaded guilty to a one count misdemeanor violation after product contamination at the Arkansas distribution center.
By Kelly Stroh • Feb. 29, 2024 -
Courtesy of Rowing Blazers
Rowing Blazers sells majority stake to Burch Creative Capital
The deal will allow the preppy streetwear brand to develop a womenswear line and expand its retail footprint.
By Laurel Deppen • Feb. 28, 2024 -
Scott Olson via Getty Images
Warby Parker eyes 40 new stores as it closes 2023 with revenue up 12%
The vision brand, which operates 237 stores, still sees the opportunity for at least 900 locations, but wants its e-commerce business to return to growth.
By Caroline Jansen • Feb. 28, 2024 -
Courtesy of Zulily
Zulily IP assets put up for sale
The sale includes customer data, domain names, over 200 trademarks and code for the brand’s proprietary app.
By Tatiana Walk-Morris • Feb. 28, 2024
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