Financial News: Page 23
-
Daphne Howland/Retail Dive
Lowe’s net sales fall 17% in Q4
Executives announced $140 million in discretionary year-end bonuses for assistant store managers and front-line workers.
By Nate Delesline III • Feb. 27, 2024 -
Daphne Howland/Retail Dive
Macy’s to close 150 more stores in 3 years
New CEO Tony Spring said underperforming stores must close even if they are cash-flow positive, telling analysts: “The bar has now been raised.”
By Daphne Howland • Feb. 27, 2024 -
Wolverine sees 20.8% revenue slip in Q4
The Merrell and Sweaty Betty owner is expecting further declines in the 2024 fiscal year.
By Laurel Deppen • Feb. 27, 2024 -
Dillard’s manages ‘respectable’ holiday quarter
A challenging consumer environment kept a lid on the department store’s success in the period, but there were some bright spots.
By Daphne Howland • Feb. 27, 2024 -
Permission granted by Instant Brands
Bankruptcy court OKs Instant Brands restructuring plan
The company, which has a brand portfolio that includes Corelle and Pyrex, expects to exit Chapter 11 this month.
By Nate Delesline III • Feb. 23, 2024 -
Courtesy of Mattel
ColumnThe Weekly Closeout: Mattel taps new head of dolls and will VF Corp sell one of its biggest brands?
Krista Berger is the new senior vice president of Barbie and will lead the dolls division at the toy company. Meanwhile, the apparel conglomerate is reviewing its brand assets.
By Retail Dive Staff • Feb. 23, 2024 -
Courtesy of The Home Depot
Home Depot issues cautious outlook after soft Q4
The economy is leading consumers to delay purchases for big projects, but push forward with smaller ones, executives said.
By Nate Delesline III • Feb. 22, 2024 -
Wayfair’s revenue inches up 0.4% in Q4 as the home category remains challenged
The online home goods retailer called 2023 the “Year of the Reset” as it turned to layoffs, among other things, to cut costs.
By Caroline Jansen • Feb. 22, 2024 -
Courtesy of Etsy
Etsy cedes the market for cheap goods and ultra-fast delivery to Amazon, Walmart, Shein and Temu
The marketplace is working hard to keep mass-produced items off its site and lure discretionary dollars from reluctant consumers.
By Daphne Howland • Feb. 22, 2024 -
Courtesy of Havenly
Havenly to acquire The Citizenry
The deal marks the third acquisition in two years for Havenly, which also bought Interior Define and The Inside.
By Howard Ruben • Feb. 22, 2024 -
Olga Nikiforova for iStock via Getty Images
Shutting down Overstock was ‘a fatal mistake’: Beyond executive chairman
Beyond Inc. will reopen Overstock's online store in the coming weeks in collaboration with Shopify.
By Nate Delesline III • Feb. 22, 2024 -
Courtesy of Timberland
S&P Global Ratings downgrades VF Corp, expects sale of at least one major brand
Declines at VF’s top four labels will likely continue amid weakness in wholesale and direct-to-consumer sales — and not just at Vans.
By Daphne Howland • Feb. 21, 2024 -
nito100 via Getty Images
Zevia taps new CFO amid growth push
The CFO swap comes as Zevia fights to bolster growth amid financial challenges and competitive demand for healthier beverages.
By Grace Noto • Feb. 21, 2024 -
Daphne Howland/Retail Dive
Under Armour inventory ticks closer to normal as freight, supply costs fall
The sportswear brand finally posted a decline in stock levels while executives said it has worked with vendors to lower product costs.
By Ben Unglesbee • Feb. 21, 2024 -
Kaarin Vembar/Retail Dive
Walmart to buy Vizio for $2.3B as annual revenue climbs 6%
The company reported double-digit growth in its advertising unit for the year, while e-commerce sales surpassed $100 billion.
By Nate Delesline III • Feb. 20, 2024 -
Daphne Howland/Retail Dive
Macy’s faces proxy fight after rejecting takeover bid
Will investors be tempted by the idea of capitalizing on the department store's real estate holdings?
By Daphne Howland • Feb. 20, 2024 -
Mild winter hits Ace Hardware sales in Q4
But the retailer cooperative swung into the black in the period, and stores made inroads with overstocks by the end of the year.
By Daphne Howland • Feb. 20, 2024 -
Crocs reaches ‘record’ annual revenue of nearly $4B
The company said it’s in the early days of implementing a retail strategy for its Heydude brand and plans to open 30 outlet locations this year.
By Nate Delesline III • Feb. 16, 2024 -
Courtesy of Express Inc.
Express CEO seeks to ease bankruptcy concerns
In a memo on Wednesday, Stewart Glendinning said the apparel retailer is awaiting a $52 million CARES Act payment to help with long-term liquidity.
By Nate Delesline III • Feb. 15, 2024 -
The Children’s Place may get a reprieve as investor takes majority stake
Mithaq Capital has taken a 54% share, will nominate 11 people to the apparel retailer's board, and has offered to help shore up its liquidity.
By Daphne Howland • Feb. 15, 2024 -
Permission granted by Away
Away lays off 25% of internal staff
The DTC luggage brand is undergoing a reorganization that also includes "the elimination of a traditional executive team structure.”
By Caroline Jansen • Feb. 14, 2024 -
Courtesy of Hasbro
Hasbro cuts half of its SKUs as sales fall 23% in Q4
CFO Gina Goetter said the products represented just 2% of revenue and were duplicative and unprofitable.
By Nate Delesline III • Feb. 14, 2024 -
11 digitally native retailers that could file for bankruptcy in 2024
While off to a slower start than 2023, filings are expected to continue in the industry, especially among many direct-to-consumer brands.
By Caroline Jansen • Feb. 14, 2024 -
Courtesy of The Body Shop
The Body Shop enters administration in the UK, citing past ownership and tough retail environment
The beauty retailer, which was just acquired by private equity firm Aurelius in November, will restructure under a process akin to Chapter 11 in the U.S.
By Daphne Howland • Feb. 13, 2024 -
Courtesy of Kohl's
Is Kohl’s real estate attracting investors?
Various funds, including one owned by the Singapore government, have taken stakes in recent days as rumors swirl about activist pressure.
By Daphne Howland • Feb. 9, 2024
Previous
