Financial News: Page 309
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Lands' End swings to Q1 loss as sales plummet
The clothing retailer reported a Q1 net loss of $5.8 million, fueled by a drop in same-store sales and closures of Lands' End shops within Sears stores.
By Daphne Howland • June 1, 2016 -
Ascena blames sales, traffic woes on poor weather
The owner of Ann Taylor, Loft and others was the latest to lower its outlook and says it has hired Accenture to help figure out what’s next.
By Daphne Howland • June 1, 2016 -
Wal-Mart turning to e-commerce to fuel growth in China
Wal-Mart currently controls just 1.6% of China's overall online retail market, far behind Alibaba at 46.9% and JD.com at 20.1%.
By Daphne Howland • June 1, 2016 -
Deep Dive
With merger hopes dashed, what's next for Staples and Office Depot?
Antitrust concerns ended Staples' plan to acquire rival Office Depot. Now the office supply retailers are scrambling to figure out their next moves.
By Daphne Howland • May 31, 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 CEO to step down
CEO Ron Sargent will exit his position following the company's annual shareholders meeting June 14.
By Kelsey Lindsey , Jason Ankeny • May 31, 2016 -
US consumer spending sees largest boost in 6 years
But retailers’ biggest challenge could be getting consumers to spend on material things rather than experiences.
By Daphne Howland • May 31, 2016 -
Wal-Mart crowned world's largest retailer as Amazon rises
Movement within Forbes’ list of the biggest and most powerful global companies reflects the current challenges in retail.
By Daphne Howland • May 31, 2016 -
Credit Suisse: Whole Foods' new 365 stores could cannibalize flagship sales
The 365 stores provide good value and a compelling customer experience—factors that could keep shoppers out of nearby Whole Foods stores.
By Daphne Howland • May 31, 2016 -
Apple hits snag setting up shop in India
India has officially rejected Apple's plan to sell refurbished iPhones in the country.
By Daphne Howland • May 31, 2016 -
Deep Dive
Retail Therapy: Retailers tag along on 2 social media triumphs
'Chewbacca Mom' and Trevor the Trolley took the internet by storm this week—and two retailers profited.
By Kelsey Lindsey • May 27, 2016 -
Mall owners: Under-performing retailers to blame for current struggles
Real estate experts say that e-commerce and changing consumer tastes pose less of a threat to malls than retailers think.
By Daphne Howland • May 27, 2016 -
Abercrombie sales slide as it struggles with muted traffic
But the retailer says that consumers are now willing to pay more for better apparel, once they get into the store.
By Daphne Howland • May 27, 2016 -
Ulta crushes estimates, boosts outlook
Sales rose 23.7% during the first quarter, demonstrating the resiliency of the beauty retail category.
By Daphne Howland • May 27, 2016 -
Sears CFO to depart as company explores options for key brands
The struggling retailer is assessing ways to get more out of its still-strong Kenmore, Craftsman and DieHard brands.
By Daphne Howland • May 26, 2016 -
J. Crew's struggle continues as flagship brand falters
But the retailer's Madewell brand saw a double-digit sales increase in the first quarter.
By Daphne Howland • May 26, 2016 -
Costco misses US same-store sales growth for first time in 6 years
Sales of memberships, Costco’s primary path to profits, rose to $584 million from $561 million a year earlier.
By Daphne Howland • May 26, 2016 -
Dollar General, Dollar Tree hold steady in Q1
The two discount retailers don't really compete with Amazon and they don't depend on apparel sales, and that helped both this quarter.
By Daphne Howland • May 26, 2016 -
Deep Dive
Should retailers take action on controversial issues?
Target's declaration that customers may use the restroom that "corresponds with their gender identity" created a national debate. But the outcry could benefit the retailer in the long run, experts say.
By Daphne Howland • May 25, 2016 -
Uniqlo still keeping a keen eye on US expansion
The Japanese retailer hasn’t given up on what CEO Tadashi Yanai says is its "most important" market.
By Daphne Howland • May 25, 2016 -
Alibaba facing SEC inquiry over accounting practices
Alibaba said it’s cooperating voluntarily with the SEC investigation, which is no indication that laws were broken.
By Daphne Howland • May 25, 2016 -
Best Buy CEO: Customer service key to battling Amazon
The electronics retailer is expanding store associate training efforts and enhancing the capabilities of its Geek Squad tech support team, CEO Hubert Joly said.
By Daphne Howland • May 25, 2016 -
Nordstrom pulls Michael Kors bag line from some stores
Many of the handbags have quality issues and are among the most returned by customers.
By Daphne Howland • May 25, 2016 -
Deep Dive
What does 'innovation' in retail look like? 8 leaders weigh in
The word 'innovation' can be buzzy—but it's also something every retailer needs to think about in this changing retail environment.
By Kelsey Lindsey • May 24, 2016 -
Activist investor Barington Capital launches proxy fight at Chico's
Barington believes that better management and more cost-cutting could unlock value in the struggling mall-based retailer.
By Daphne Howland • May 24, 2016 -
Best Buy stock sinks on soft forecast, CFO exit
The consumer electronics retailer managed to beat expectations for its first quarter results, but shares fell on disappointing guidance for the current quarter.
By Daphne Howland • May 24, 2016