Financial News: Page 3

  • Mattress Firm storefront.
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    Permission granted by Mattress Firm
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    Tempur Sealy sues FTC over Mattress Firm acquisition challenge

    If the overall deal goes through, Tempur Sealy would sell 176 stores to rival Mattress Warehouse and operate over 2,800 retail stores worldwide.

    By • Oct. 8, 2024
  • A baby dressed in white knit onesie and cap sits next to a white blanket, looking up.
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    Courtesy of Janie and Jack
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    Go Global snaps up Hatch maternity brand

    The label will team up with Janie and Jack, an upscale children’s apparel retailer the investment platform acquired from Gap Inc. in 2021.

    By • Oct. 8, 2024
  • A delivery truck with the Aaron's logo and a cartoon dog is shown in a parking lot amogst other vehicles.
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    The image by Dwight Burdette is licensed under CC BY 3.0
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    The Aaron’s Company goes private in $504M deal

    Fintech company IQVentures acquired the lease-to-own retailer, which has seen revenue fall over the past year.

    By • Oct. 7, 2024
  • Blurry cars drive by a Macy's store entrance.
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    Daphne Howland/Retail Dive
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    Another rough year for department stores

    The segment is undergoing a quiet shakeup in 2024, with major players pursuing varying degrees of change to their operations.

    By • Oct. 7, 2024
  • Belk storefront.
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    Kaarin Vembar/Retail Dive
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    Column

    The Weekly Closeout: Belk unveils fresh board of directors and Finish Line to disappear

    The regional department store has a new board while the athletics brand’s stores are being rebannered as JD locations. 

    By Retail Dive Staff • Oct. 4, 2024
  • A red Levi's tab sign against a bright blue sky.
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    Daphne Howland/Retail Dive
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    As Levi’s pivots to DTC, Dockers may be sold

    CEO Michelle Gass said the khakis business “has underperformed for some time” and the company wants to focus on its denim and Beyond Yoga brands.

    By • Oct. 3, 2024
  • Journeys store front
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    "Journeys" by Bentley Mall is licensed under CC BY 1.0 / Edited by https://commons.wikimedia.org/w/index.php?title=User:BentleyMall&action=edit&redlink=1/Retail Dive
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    Genesco taps Tupperware vet as CFO

    Sandra Harris will oversee the company’s accounting, financial planning and analysis, investor relations, treasury, procurement and tax functions.

    By Howard Ruben • Oct. 3, 2024
  • A Nike storefront at The Grove shopping center in Los Angeles, California.
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    Cara Salpini/Retail Dive
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    Nike CFO notes that ‘a comeback at this scale takes time’ as revenue falls 10%

    With a new CEO set to take over, the sportswear giant pulled its guidance for the year and stressed the actions it’s already taking to reset the business.

    By • Oct. 2, 2024
  • Shot of CVS Pharmacy logo
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    Mario Tama via Getty Images
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    CVS to lay off 2,900 employees amid reports of strategic review

    CVS is cutting 1% of its workforce as the healthcare behemoth pursues a massive cost-cutting plan — including a potential breakup of its businesses, according to reports.

    By Rebecca Pifer • Oct. 1, 2024
  • Two people with shopping bags, walking down the street on a snowy day.
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    vgajic via Getty Images
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    PwC expects 7% bump in average holiday spending, increased traffic to stores

    Despite easing inflation, however, consumers remain selective and motivated by price.

    By • Oct. 1, 2024
  • Models in sporty attire walk down a runway.
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    JP Yi via Getty Images
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    LVMH sells Off-White to Bluestar Alliance

    The New York-based brand management company said the acquisition allows it to build on the legacy of label founder Virgil Abloh, who died in 2021.

    By Lara Ewen • Oct. 1, 2024
  • The interior entrance to a JC Penney mall store, with fronds of a plant in the foreground.
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    Daphne Howland/Retail Dive
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    J.C. Penney swings into the red as Q2 sales plunge

    The department store’s turnaround is focused on working families, which have been especially hard hit by economic challenges like inflation.

    By • Sept. 30, 2024
  • Customer with water in his cart is shown shopping inside a Costco store.
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    Joe Raedle via Getty Images
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    Costco CFO targets lower prices amid ‘effectively flat’ inflation

    The big-box retailer lowered the cost of its store brand items as high food prices become a hot-button issue in the presidential election.

    By Maura Webber Sadovi • Sept. 30, 2024
  • Elizabeth Dunn, senior vice president of sales at MeUndies
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    Courtesy of MeUndies
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    MeUndies names senior vice president of sales

    Elizabeth Dunn, who most recently held the same position with Calvin Klein Intimates, will be focused on growing the DTC brand’s wholesale presence.

    By Howard Ruben • Sept. 27, 2024
  • A Foot Locker storefront.
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    Courtesy of Foot Locker, Inc.
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    Former Foot Locker exec charged with insider trading

    Barry Siegel, who was formerly the senior director of order planning management for North America, has agreed to pay almost $236,000 to settle the case.

    By • Sept. 26, 2024
  • A cardboard box, pair of sneakers, sweater, shirts and jeans.
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    Courtesy of Stitch Fix
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    Stitch Fix expects return to growth in 2 years

    CEO Matt Baer said the company’s cost cuts and customer experience changes are paying off, but warned that “transformations take time.”

    By • Sept. 25, 2024
  • A person wearing blue jeans and yellow socks deals with two big cardboard boxes with green lettering.
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    Courtesy of Grove Collaborative
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    Grove Collaborative snags $15M in new investment, will pay off term debt

    Volition Capital noted progress at the consumer products brand since the firm’s first outlay of $10 million and a leadership shakeup last year.

    By • Sept. 24, 2024
  • A man with silver hair in a suit gestures at a podium.
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    Anna Moneymaker via Getty Images
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    Fed cuts main rate by half point, voices confidence that inflation is falling

    The central bank trimmed borrowing costs from a two-decade high after policymakers noted their growing concern about a softening labor market.

    By Jim Tyson • Sept. 19, 2024
  • An Estée Lauder storefront with displays featuring cosmetics in Hong Kong
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    "HK TKO zh:將軍澳 Tseung Kwan O PopCorn mall shop in January 2022" by CAHOGNSUIE 202 KADPA is licensed under CC BY-SA 4.0
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    Would-be Estée Lauder investor has no plans to boost ‘mini-tender’ offer

    The luxury beauty and fashion conglomerate said it doesn’t endorse the below-market bid, which doesn’t require typical disclosures because it’s for less than 5% of its outstanding shares.

    By • Sept. 16, 2024
  • A mall entrance to a Build-A-Bear store, with "workshop" in rainbow-colored letters.
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    Daphne Howland/Retail Dive
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    Build-A-Bear names chief revenue officer

    David Henderson, who previously worked with Hasbro and Melissa & Doug, comes to the retailer after it reported a record Q2.

    By • Sept. 13, 2024
  • A small, bright yellow shopping bag sitting on a counter.
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    "Shopping Bag at Kendra Scott" by Nan Palmero is licensed under CC BY 2.0
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    With new investment, Kendra Scott eyes geographic, category growth

    Private equity firm 65 Equity Partners has invested an undisclosed amount in the accessories brand, though founder Scott herself retains a majority stake.

    By • Sept. 13, 2024
  • Sephora storefront.
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    Daphne Howland/Retail Dive
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    Column

    The Weekly Closeout: Sephora North America names next CFO and Petco’s losses grow

    Ten-year company veteran Delphine Herve will take on the position at the beauty retailer. Meanwhile, the pet retailer saw net loss surge by 70% in Q2.

    By Retail Dive Staff • Sept. 13, 2024
  • Big Lots to remain open on Thanksgiving.
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    Courtesy of Big Lots
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    Big Lots gets court OK for $550M in bankruptcy financing

    The funding will allow the bargain-focused retailer to continue normal operations, including paying employees and vendors.

    By • Sept. 12, 2024
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    Daphne Howland/Retail Dive
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    GameStop eyes more store closures as sales fall 31%

    A store optimization review is underway as the video game retailer continues to face significant obstacles.

    By • Sept. 11, 2024
  • Shoe Carnival storefront from Mesquite
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    Permission granted by Shoe Carnival
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    The big switch: Why Shoe Carnival is flipping some of its stores into Shoe Stations

    In a few test locations, stores that were rebannered as Shoe Stations performed “exceptionally well,” according to CEO Mark Worden.

    By • Sept. 11, 2024