Financial News: Page 296
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Target pharmacy customers clamor for return of clear drug labels after CVS takeover
Although CVS picked up Target’s innovative medication label and bottle design when it acquired the retailer’s pharmacy operations, it has abandoned the approach — to the chagrin of many customers.
By Daphne Howland • Sept. 28, 2016 -
Nike earnings beat expectations but shares fall on bloated inventories
Analysts skeptical of Nike’s summertime report of an inventory draw-down were vindicated by its first quarter results.
By Daphne Howland • Sept. 28, 2016 -
Deep Dive
Why Macy's store closure plans may just be the tip of the iceberg
A decade ago Macy's went on a buying spree, acquiring pockets of regional department stores and growing to nearly 1,000 stores nationwide. Now it's on a mission to downsize in a big way.
By Daphne Howland • Sept. 28, 2016 -
Neiman Marcus store sales drop for fourth straight quarter
The luxury department store attributed the declines to a challenging retail environment, a strong dollar and the growing demand for fast fashion.
By Daphne Howland • Sept. 27, 2016 -
UPDATED: Lands' End CEO Federica Marchionni resigns
Lands' End chief Federica Marchionni has resigned her post, effective immediately, the outdoor apparel retailer announced Monday morning.
By Jason Ankeny • Sept. 26, 2016 -
Online grocer FreshDirect snags $189M in funding round
The grocery delivery space is highly competitive and fraught with logistical challenges, but investors believe FreshDirect can fulfill its potential.
By Daphne Howland • Sept. 26, 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
Staples permanently installs Shira Goodman as CEO
Goodman was previously named interim CEO following longtime chief Ron Sargent's mid-year resignation.
By Daphne Howland • Sept. 26, 2016 -
Office Depot sells European business to Aurelius Group
The office supplies retailer continues to implement the strategic plan it finalized in the aftermath of its failed merger with rival Staples.
By Daphne Howland • Sept. 26, 2016 -
West Elm to open boutique hotels, sell furnishings online
The hotel rooms and common areas will incorporate design elements from their local communities, and guests will also be able to purchase furniture and artwork.
By Daphne Howland • Sept. 26, 2016 -
Target ends kiddie shopping carts trial after chaos erupts
The pilot ended after just a few weeks of testing based on criticism in stores and across social media from parents as well as other shoppers.
By Daphne Howland • Sept. 23, 2016 -
Nordstrom shakes up executive ranks to boost e-commerce
Longtime EVP of strategy and development Ken Worzel has been promoted to president of the Nordstrom.com unit, and siblings/co-presidents Erik, Blake and Pete Nordstrom have also changed up their duties.
By Daphne Howland • Sept. 23, 2016 -
Elf Beauty plans brick-and-mortar expansion after $114M IPO
Shares of the cosmetics company soared 56% Thursday from its opening price on the New York Stock Exchange.
By Daphne Howland • Sept. 23, 2016 -
Report: American Apparel CEO Schneider stepping down
Paula Schneider, who took over for the retailer's controversial founder Dov Charney in late 2014, will depart her post on Oct. 3.
By Daphne Howland • Sept. 22, 2016 -
Wal-Mart faces class action suit over Mexican bribery allegations
The suit alleges the retailer defrauded shareholders by concealing suspected bribery to accelerate international expansion.
By Daphne Howland • Sept. 22, 2016 -
Wal-Mart pays $200M in Q2 bonuses for hourly workers
The retailer says a new emphasis on store workers and associate training is paying off in stores by improving customer service.
By Daphne Howland • Sept. 22, 2016 -
Deloitte: Holiday sales to grow by as much as 4%
Digital interactions like social media marketing and mobile activity will help drive an expected 17% to 19% increase in e-commerce sales.
By Daphne Howland • Sept. 22, 2016 -
Zara rises on sales beat, launches eco-friendly line
While emphasizing the growth of its physical footprint, Zara parent Inditex also stressed the integration of its online and offline sales approaches.
By Daphne Howland • Sept. 22, 2016 -
Bed Bath & Beyond misses expectations despite web sales surge
Comparable sales at the home-goods chain fell 1.2% during the second quarter, falling short of Wall Street forecasts.
By Daphne Howland • Sept. 22, 2016 -
FedEx foresees record holiday shipments driven by e-commerce growth
The shipper plans to hire about 50,000 seasonal employees for the holidays, roughly the same as last year.
By Dan O'Shea • Sept. 21, 2016 -
Refinancing deal keeps Claire's turnaround hopes alive
A revised agreement with HSBC Bank will allow the struggling teen accessories retailer to worry about holiday sales rather than its heavy debt, at least for now.
By Daphne Howland • Sept. 21, 2016 -
Macy's holiday hiring plans hold flat, omnichannel gets boost
The company will fill about 83,000 positions at Macy’s and Bloomingdale’s stores, with an emphasis on supporting its online and omnichannel fulfillment operations.
By Daphne Howland • Sept. 21, 2016 -
Ascena plummets on sales miss
Shares of the women's apparel retailer plunged 24% in pre-market trading Tuesday, nearing a 7.5-year low.
By Daphne Howland • Sept. 20, 2016 -
Costco faces lawsuit over improper sales tax collection
The class-action suit alleges that the warehouse retailer is illegally charging sales tax on toilet tissues, a product exempt New Jersey's tax collection guidelines.
By Daphne Howland • Sept. 19, 2016 -
Athletic brands suffer as Golfsmith proceeds in Chapter 11
The bankrupt retailer owes between $100 million and $500 million to some of the world's most notable sports brands, including Nike, Under Armour and Callaway.
By Daphne Howland • Sept. 19, 2016 -
Report: Sears to shut more Kmart stores in 13 states
Using information from store employees and financial filings, Business Insider has pinpointed additional Kmart locations that are expected to shutter before year's end.
By Daphne Howland • Sept. 19, 2016