Financial News: Page 291
-
Amazon overhauls controversial 'rank-and-yank' employee review program
Amazon's reputation as a ruthless employer came to light after the publication of a 2015 New York Times article detailed "bruising" working conditions that fly in the face of today's HR trends.
By Daphne Howland • Nov. 15, 2016 -
Sears, Activehours team to give Shop Your Way members, store associates paycheck advances
The mobile paycheck advance application allows rewards members and Sears and Kmart staffers to purchase products and services right when they need them.
By Dan O'Shea • Nov. 14, 2016 -
Deep Dive
How 7 retail execs responded to Trump's presidential win
Some executives are extending an olive branch, while others are preaching optimism.
By Corinne Ruff • Nov. 14, 2016 -
Gildan to buy bankrupt American Apparel for $66M
The buyout does not include any of American Apparel's stores, signaling its inevitable shutdown as a physical retailer.
By Daphne Howland • Nov. 14, 2016 -
Alibaba's Singles Day shatters expectations with $18B in sales
Sales across Alibaba's China and international retail marketplaces increased 32% over last year's shopping event, with mobile gross merchandise volume accounting for 82% of that total, compared to 69% in 2015.
By Daphne Howland • Nov. 14, 2016 -
Kenneth Cole to shutter all but two US stores
The fashion house and shoe retailer will take the next six months to wind down its 63 outlet stores, leaving one in New York City and another in Arlington, VA.
By Daphne Howland • Nov. 14, 2016 -
Hudson's Bay loses hope in end-of-year sales spike
CEO Jerry Storch said its investments in robotic fulfillment will soon pay off, and he feels good headed into the holiday season.
By Daphne Howland • Nov. 11, 2016 -
J.C. Penney comeback goes off course on soft apparel sales
The retailer lowered its fiscal year same-store sales guidance after increased competition from off-price retailers and weak shopper traffic derailed its third quarter results.
By Daphne Howland • Nov. 11, 2016 -
Dollar General reveals plans for smaller, urban DGX store format
In a challenge to similar concepts by Target and Wal-Mart the stores will offer a range of grab-and-go food items as well as home goods and electronics.
By Daphne Howland • Nov. 11, 2016 -
Nordstrom recovery gains momentum despite steep Trunk Club losses
The department store retailer beat analyst expectations for the second consecutive quarter, boosted by its anniversary sale and off-price Rack business.
By Daphne Howland • Nov. 11, 2016 -
Report: Sears suppliers slowing shipments on bankruptcy jitters
Murmurs about Sears’ inability to keep up with vendor payments are growing louder, and at least six suppliers have reduced shipments to the struggling retailer out of fears it will go under.
By Daphne Howland • Nov. 10, 2016 -
Ralph Lauren makes progress on 'Way Forward' plan
Analysts have been patient with the retailer’s turnaround plan, despite a decline in wholesale revenue and a rise in expenses.
By Daphne Howland • Nov. 10, 2016 -
Macy's inks real estate deal with Brookfield, sells San Francisco menswear store for $250M
The embattled department store retailer is granting real estate investment firm Brookfield exclusive rights to create a “pre-development plan” for at least 50 Macy’s property assets.
By Daphne Howland • Nov. 10, 2016 -
Kohl's CFO McDonald retiring in spring 2017
The announcement of Wesley McDonald's imminent departure coincides with the release of a third quarter earnings report suggesting that the retailer's turnaround plan is gaining traction ahead of the holidays.
By Daphne Howland • Nov. 10, 2016 -
Nasty Gal files for Chapter 11 bankruptcy
The quirky apparel retailer has struggled to grow beyond its cult following of young millennial women and fallen behind fast-fashion brands like Forever 21 and Zara.
By Daphne Howland • Nov. 9, 2016 -
Reports: With Trump in White House, Amazon could face antitrust probe
President-elect Donald Trump earlier this year blamed Amazon's "monopolistic tendencies" for "the destruction of department stores and the retail industry.”
By Dan O'Shea • Nov. 9, 2016 -
Burberry trimming product offerings for the holidays
The upscale British fashion house is shifting its focus to its newest items, especially those selling well after its September runway show.
By Daphne Howland • Nov. 9, 2016 -
Wal-Mart faces lawsuit over false labeling of Egyptian cotton sheets
Its response to Indian textile manufacturer Welspun’s mislabeling is in contrast to rival Target, which severed ties upon discovery of the issue.
By Daphne Howland • Nov. 9, 2016 -
American Apparel abandons UK stores, resumes talks with bidders
The retailer has appointed executives from accounting giant KPMG as administrators of its 13 U.K. stores and has stopped shipping inventory to those locations, although they have enough merchandise to get through the holidays.
By Daphne Howland • Nov. 9, 2016 -
Google's Project Wing drone bet hits stiff headwinds
The drone delivery effort's future is in doubt following the departure of two of its leaders, financial and staffing cuts and the end of a potential delivery partnership with Starbucks.
By Dan O'Shea • Nov. 8, 2016 -
Gap warehouse fire blamed for sales decline
Old Navy was again the apparel retailer's salvation in the third quarter, with a same-store sales increase of 3%, while Gap and Banana Republic suffered setbacks.
By Daphne Howland • Nov. 8, 2016 -
CVS slashes guidance as prescription growth sputters
Days after the drugstore chain announced plans to eliminate 600 corporate jobs, it missed third quarter revenue projections and lowered its outlook for the year ahead.
By Daphne Howland • Nov. 8, 2016 -
Online jeweler Blue Nile going private to revive fortunes
The e-retailer, founded in 1999, has recently begun to open physical stores and is struggling to maintain growth.
By Daphne Howland • Nov. 8, 2016 -
Deep Dive
How Target can refresh its failing grocery business
The retailer's grocery effort suffered another blow with the abrupt resignation of department head Anne Dament. Eight experts debate how (and if) Target can turn it around.
By Jason Ankeny • Nov. 8, 2016 -
Golfsmith begins store closing sales at 59 locations
Dick’s Sporting Goods and a team of liquidators won a bankruptcy auction last month to take over its U.S. business for $70 million.
By Daphne Howland • Nov. 7, 2016