Financial News: Page 311
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Anti-counterfeit group suspends Alibaba after member outcry
Tiffany & Co. was the latest member of the International AntiCounterfeiting Coalition to leave over the inclusion of what they say is their “biggest adversary” in sales of fakes.
By Daphne Howland • May 16, 2016 -
J.C. Penney shares plummet on unexpected sales drop
Same-store sales fell 0.4% in the retailer's first quarter, compared to an expected gain of 3.2%.
By Daphne Howland • May 13, 2016 -
Retail sales grew 1.3% in April, the largest jump in a year
Spending increases were across multiple categories, but many retailers in apparel will still likely struggle to attract customers.
By Daphne Howland • May 13, 2016 -
Nordstrom stock tumbles 17% after disappointing earnings
With yet another worst-than-expected quarter, the retailer cut its financial forecast for the year after warning about slowing sales.
By Daphne Howland • May 13, 2016 -
Analyst: One-third of malls will shutter in upcoming years
One in three malls and, for some retailers, a half of existing stores will have to close as consumers move online.
By Daphne Howland • May 13, 2016 -
Aeropostale settles heated dispute with clothing supplier
Aeropostale claimed that its terms with MGF Sourcing in part forced the retailer into bankruptcy.
By Daphne Howland • May 13, 2016 -
Deep Dive
Do or die: How retailers can innovate in an age of disruption
Pretty much everyone agrees the traditional retail model needs to change—how to do so is another matter.
By Kelsey Lindsey • May 12, 2016 -
Deep Dive
Retail Therapy: A Reese's miracle, the Minnie Mouse fashion trend and $15,000 sex toys
Among other retail oddities, Gwyneth Paltrow's lifestyle/e-commerce site is now peddling pricey sex toys for the bored (and rich).
By Kelsey Lindsey • May 12, 2016 -
Kohl's profit sinks 87% on unexpected sales decline
Overall sales fell 3.7% in Q1 to $3.97 billion, Kohl's first drop in six quarters.
By Daphne Howland • May 12, 2016 -
Cowen: 'More confident' Amazon will topple Macy's apparel sales by 2017
Cowen & Co.'s John Blackledge calculates that Amazon's share of the U.S. apparel and accessories market has grown from 5% to 14% over the last year.
By Daphne Howland • May 12, 2016 -
Sears surprises with plans for smaller stores
The ailing retailer has been on its last legs for years, but CEO Eddie Lampert said it’s not done trying new things.
By Daphne Howland • May 12, 2016 -
Macy's slashes outlook, shares plummet
Sales and revenue beat expectations, but investors balked when Macy's lowered its fiscal year guidance.
By Daphne Howland • May 11, 2016 -
Lumber Liquidators sinks on disappointing Q1
A year after the '60 Minutes' report that set its struggles into motion, the embattled flooring retailer continues to stumble.
By Daphne Howland • May 11, 2016 -
Report: Sports Authority reorganization hopes dwindle as Modell's backs away
With bids due Wednesday, liquidation appears to be the most lucrative and most likely scenario facing the bankrupt sporting goods retailer.
By Daphne Howland • May 11, 2016 -
Wal-Mart sues Visa over chip-and-PIN security
Wal-Mart alleges that Visa is forcing stores to allow customers to use a signature in EMV transactions.
By Daphne Howland • May 11, 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
UPDATED: Judge rules against Staples-Office Depot, ending merger deal
More than a year after Staples agreed to acquire Office Depot, a U.S. District Court Judge on Tuesday granted the Federal Trade Commission's request to halt the deal.
By Jason Ankeny • May 10, 2016 -
J.C. Penney expanding appliance, home improvement sales
The retailer hopes to capitalize on the strong U.S. housing market and create synergies in several home categories.
By Daphne Howland • May 10, 2016 -
Scoop NYC shuttering all stores nationwide
The 20-year-old boutique retailer was felled by high rents and increased competition.
By Daphne Howland • May 10, 2016 -
Analyst: Dick's might scoop up 180 Sports Authority stores
Investment bank Canaccord Genuity believes Dick's could gain $500 million in incremental sales.
By Daphne Howland • May 10, 2016 -
Gap sales nosedive, company vows to streamline
Same-store sales at Banana Republic plummeted 11% during the first quarter of 2016, and Old Navy dropped 6%.
By Daphne Howland • May 10, 2016 -
Apple VP of online retail Kupbens calls it quits
Bob Kupbens' departure follows days after Apple reported its first decline in quarterly revenue in 13 years.
By Daphne Howland • May 9, 2016 -
Gucci, Michael Kors quit anti-counterfeit group over Alibaba membership
Not only has the International Anti-Counterfeiting Coalition allowed Alibaba to join its ranks, but also is featuring founder Jack Ma as the keynote speaker at its spring conference this month.
By Daphne Howland • May 9, 2016 -
Amazon pledges same-day delivery to all urban neighborhoods after outcry
Amazon also said it will provide service in all zip codes whenever launching same-day delivery in additional markets moving forward.
By Daphne Howland • May 9, 2016 -
Wayfair revenue soars 76% on healthy repeat business
The online home furnishings and décor retailer delivered 3 million orders in Q1 2016, an increase of 66.7% year over year.
By Daphne Howland • May 9, 2016 -
U.S. jobs growth slows in April, retail employment unchanged
American employers added just 160,000 non-farm jobs in April, the fewest since September 2015.
By Daphne Howland • May 6, 2016