Financial News: Page 294
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Dick's reportedly preparing bid on bankrupt Golfsmith stores
Bids for the golf specialty retailer, which filed for Chapter 11 bankruptcy last month, were due on Monday and a winner will be selected after an auction scheduled for Wednesday.
By Corinne Ruff • Oct. 18, 2016 -
Visa CEO stepping down, former AmEx chief takes reins
Charlie Scharf is resigning for personal reasons effective Dec. 1, with board member Alfred F. Kelly, Jr. stepping in as CEO-designate on Oct. 31.
By Daphne Howland • Oct. 18, 2016 -
"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
Report: Staples unloading European business, future of UK stores in doubt
Investment bank Cerberus is in discussions to acquire the office supplies retailer's European locations for "a nominal sum."
By Daphne Howland • Oct. 18, 2016 -
Report: J. Crew contemplating major changes to survive
Chairman and CEO Mickey Drexler is huddling with consultants at McKinsey & Co. on a strategy to turn the struggling apparel retailer around.
By Daphne Howland • Oct. 18, 2016 -
Under Armour, Fanatics reportedly score key MLB licensing deal
The brands are slated to produce on-field jerseys for Major League Baseball beginning in 2020, displacing current licensees Nike and Majestic Athletic.
By Dan O'Shea • Oct. 17, 2016 -
Pier 1 pushes back on activist investor ultimatum
Hedge fund Alden Global Capital is demanding a seat on the board and authority to shake up its members, but Pier 1 says its board is doing fine.
By Daphne Howland • Oct. 17, 2016 -
Report: Banana Republic shifting some full-line stores to factory outlets
The apparel chain is starting in the New York City area, targeting locations in urban shopping districts.
By Daphne Howland • Oct. 17, 2016 -
Struggling Sears elevates Hollar to CFO
Both Sears and Kmart continue to struggle mightily in what CEO Edward Lampert calls a “challenging retail environment.”
By Daphne Howland • Oct. 17, 2016 -
Retail sales bounce back strong in September
The brightest spot is Amazon and other e-commerce players, which as a category increased sales more than 10% from the year-ago period.
By Corinne Ruff • Oct. 14, 2016 -
Uniqlo forecasts record profit in 2017
Parent company Fast Retailing promised major changes to speed up its supply chain, and said it is expanding its e-commerce operations and transforming its distribution systems.
By Daphne Howland • Oct. 13, 2016 -
Ulta boosts outlook, brick-and-mortar expansion plans
The beauty retailer plans to grow its nationwide footprint to between 1,400 and 1,700 stores, up from its previous target of 1,200 locations.
By Daphne Howland • Oct. 13, 2016 -
Wal-Mart increases manager salaries above FLSA overtime threshold
The new federal labor regulation takes effect Dec. 1 and doubles the current threshold of a $23,660 annual salary.
By Daphne Howland • Oct. 12, 2016 -
Sears perks up Shop Your Way program ahead of holidays
Members will be privy to a special holiday pricing guarantee and a bonus in-store sales event.
By Daphne Howland • Oct. 12, 2016 -
Deep Dive
Why Lands' End parted ways with its CEO — and why it's still in deep trouble
Less than two years after hiring luxury apparel veteran Federica Marchionni to remake its image and brand, Lands’ End is moving on. But its fundamental challenges, including a fickle board, remain unchanged.
By Lara Ewen • Oct. 11, 2016 -
Report: Amazon plans convenience stores, curbside pickup for grocery ambitions
The small brick-and-mortar convenience stores are targeted exclusively to members of the e-commerce giant's Fresh food subscription service.
By Jason Ankeny • Oct. 11, 2016 -
LVMH's leather goods accelerate growth in third quarter
Revenue is up for the world's leading luxury products group thanks to its Sephora brand, as well as fashion and leather goods.
By Daphne Howland • Oct. 11, 2016 -
Target brings back design focus with Dwell collection
The collaboration with Dwell Magazine features more than 120 indoor and outdoor items with midcentury-influenced design aesthetics.
By Daphne Howland • Oct. 11, 2016 -
Macy's to launch e-commerce site for China market in 2017
The retailer began selling in China last year via Alibaba's Tmall Global storefront, offering products from brands including Tommy Hilfiger and Fossil.
By Dan O'Shea • Oct. 10, 2016 -
Ralph Lauren taps founder's son to lead innovation
Analysts have long suspected David Lauren would be the heir to the fashion house.
By Daphne Howland • Oct. 10, 2016 -
JC Penney brings greeters to retail stores
Not all employees like the idea because it’s creating longer checkout lines and taking them away from other tasks, according to a report.
By Daphne Howland • Oct. 10, 2016 -
Trade groups call for US to blacklist Alibaba over fakes
Despite several efforts in the past to fight counterfeit sales, Alibaba has failed to mollify brands.
By Daphne Howland • Oct. 10, 2016 -
Chico's names new president to turn around struggling brand
Layoffs and weak sales have plagued the apparel brand as it aims to regain traction among its core customer base of older women.
By Daphne Howland • Oct. 10, 2016 -
L Brands, Gap outpace September expectations
Gap is still depending on Old Navy for its salvation, while L Brands is turning to Bed Bath & Beyond to fill that role.
By Daphne Howland • Oct. 7, 2016 -
E-commerce darlings Warby Parker, Bonobos plot major brick-and-mortar expansion
Disruptive, data-driven web retailers are crunching the numbers and calculating that physical stores are instrumental to their success.
By Daphne Howland • Oct. 7, 2016 -
Target experiments with in-store vertical farms
A collaboration with the Massachusetts Institute of Technology and design firm IDEO on urban farming may soon bear fruit for the retailer’s shelves.
By Daphne Howland • Oct. 7, 2016