Financial News: Page 277
-
Gordmans files for Chapter 11 bankruptcy protection
The 100-plus year-old discount department store has struggled with sales and is loaded with some $85 million in debt, much of it due in 2020.
By Daphne Howland • March 13, 2017 -
Walgreens fills chief marketing, merchandising vacancies
Adam Holyk and Joe Hartsig will take over for outgoing executive Linda Filler as the drugstore chain awaits word on its planned merger with rival Rite Aid.
By Daphne Howland • March 13, 2017 -
Best Buy denies FBI, Geek Squad techs worked together without warrants
"We have not been trained by the FBI nor have we ever shared customer lists, conducted surveillance or searched customer computers for them," the electronics retailer maintains.
By Daphne Howland • March 13, 2017 -
Target ups data analytics game through series of 'acqui-hire' deals
"Acqui-hires allow us to accelerate both onboarding the right kind of talent, onboarding the right kind of technologies and getting to market much faster," said Target Senior Vice President Paritosh Desai.
By Dan O'Shea • March 12, 2017 -
UPDATE: Bankrupt Gander Mountain closing 30 stores, soliciting bids
The privately held outdoor retailer will begin soliciting going-concern bids for its business in the coming weeks.
By Daphne Howland • March 10, 2017 -
Morningstar: J.C. Penney store closures could impair $30B in commercial mortgage-backed loans
Roughly 40 closings in particular — in malls already suffering from below-average tenant sales — are poised to impair some $7.29 billion in securities, the credit rating firm said.
By Daphne Howland • March 10, 2017 -
Signet Jewelers to close 165 stores, review sexual harassment charges
Following allegations that it fostered a culture of harassment and discrimination, the diamond jeweler will add a “respect in the workforce” committee to its board and conduct a review of its policies.
By Corinne Ruff • March 10, 2017 -
Men's Wearhouse parent halting expansion of Macy's tuxedo partnership
Tailored Brands, which also owns Jos. A. Bank, has tallied operating losses between $19 million and $20 million related to its Macy's concessions.
By Daphne Howland • March 10, 2017 -
Ulta Beauty to open another 100 stores
The cosmetics retailer's Q4 net sales increased 24.6% to $1.58 billion from $1.27 billion in the year-ago quarter.
By Daphne Howland • March 10, 2017 -
Sears Holdings revenues tank even as losses shrink
The once-iconic chain is "is broken and now well beyond repair,” according to GlobalData Retail managing director Neil Saunders.
By Daphne Howland • March 9, 2017 -
"Staples Store sign logo building facade, US Postal Service, Staples Home Office Supplies Strike Picket" by Mike Mozart is licensed under CC BY 2.0
Staples to shutter 70 stores
The office supplies retailer is left to implement a turnaround strategy after its plan to merge with rival Office Depot failed last year.
By Daphne Howland • March 9, 2017 -
RadioShack files for second bankruptcy in 24 months, closing 200 stores
The electronics retailer is reportedly in talks with wireless operator partner Sprint (which helps run about a third of its brick-and-mortar operations in co-branded stores) to evaluate its options and help preserve jobs.
By Daphne Howland • March 9, 2017 -
Macy's reportedly steps up self-service shoe approach
The “open sell" model resembles off-price retail, and players in that space have steadily taken market share from the struggling department store.
By Daphne Howland • March 9, 2017 -
Deep Dive
What went wrong at BCBG Max Azria
The success of online retailing and fast fashion certainly helped grease the way for BCBG’s descent, but that’s not the whole story behind what brought down the house that Azria built.
By Lara Ewen • March 9, 2017 -
Walgreens may give FTC notice of 'certified compliance' to force Rite Aid merger decision
The move gives regulators just 30 days to decide on the proposed merger between the drugstore retailer and rival Rite Aid.
By Daphne Howland • March 9, 2017 -
Instacart adds $400M in Series D, plans expansion to 25 new markets
The funding vaults the estimated total value of the grocery shopping and delivery startup to $3.4 billion, up from $2 billion in its previous round.
By Dan O'Shea • March 8, 2017 -
Adidas gunning for Nike as it shatters sales records
The athletic apparel company's three-pillar turnaround strategy is paying off in a big way, CEO Kasper Rorsted said.
By Daphne Howland • March 8, 2017 -
Express sales plummet on discounts, dwindling mall traffic
The teen apparel retailer's fourth quarter net sales plunged 11% to $678.8 million from $765.6 million in the year-ago quarter.
By Daphne Howland • March 8, 2017 -
Urban Outfitters posts record sales, but still grappling with online-offline mix
Fourth quarter net sales rose 2% to $1.03 billion, driven by $19 million in sales from new Vetri Family Restaurants locations.
By Daphne Howland • March 8, 2017 -
Dick's soars on turmoil in sporting goods market
But the retailer isn’t resting on its laurels, announcing a new merchandising strategy to better compete against brands selling direct to shoppers.
By Daphne Howland • March 7, 2017 -
HHGregg files for Chapter 11, lines up buyer
An anonymous party has agreed to purchase the electronics retailer's assets, allowing HHGregg to exit the bankruptcy process debt-free.
By Daphne Howland • March 7, 2017 -
Report: RadioShack braces for second bankruptcy
The retailer is loaded with debt and struggling amid stiff competition in the electronics space.
By Daphne Howland • March 7, 2017 -
Ascena stanches losses despite traffic, pricing struggles
Some segments performed better than others: Loft is outpacing Ann Taylor, and Dressbarn eclipsed Maurices.
By Daphne Howland • March 7, 2017 -
Gordmans reportedly preparing to seek bankruptcy protection
The century-old discount department store is weighed down by debt, and growth has slowed significantly after a two-year store expansion.
By Daphne Howland • March 7, 2017 -
IBM Watson, Salesforce Einstein form AI dream team to aid retail, other industries
The tech giants will integrate and leverage one another’s artificial intelligence solutions to deliver new applications for customers in a variety of sectors.
By Dan O'Shea • March 6, 2017
Previous
