Financial News: Page 314
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Nordstrom slashing up to 400 additional jobs as cost cutting continues
The layoffs, representing about 6% of Nordstrom's workforce, are expected to save some $60 million in fiscal 2016.
By Daphne Howland • April 19, 2016 -
Report: Aeropostale launching strategic review as struggles continue
The teen apparel retailer hasn’t seen the rebound that its rivals have, and last month said it would explore a restructure or sale.
By Daphne Howland • April 19, 2016 -
Target boosting minimum pay to $10 per hour
The raise could dent Target’s earnings as it also invests in tech and store upgrades.
By Daphne Howland • April 19, 2016 -
New Avon names new CEO in turnaround effort
Scott White joins the newly spun-off but still-struggling company with loads of consumer product experience but none in Avon’s mainstay — direct selling.
By Daphne Howland • April 19, 2016 -
Ikea plots organizational overhaul to improve agility
The home furnishings retailer’s convoluted structure has allowed it to escape taxes, but may be hampering its ability to compete.
By Daphne Howland • April 18, 2016 -
US consumer confidence falls amid economic growth concerns
Consumer confidence fell for the fourth straight month according to the University of Michigan preliminary consumer sentiment index for April.
By Daphne Howland • April 18, 2016 -
Sport Chalet shutters all stores, halts online sales
The move is part of a new strategic focus on parent Vestis Retail Group's other two regional sports retailers, Bob’s Stores and Eastern Mountain Sports.
By Daphne Howland • April 18, 2016 -
Target's Marimekko collection fails to replicate Lilly Pulitzer frenzy
The newest collection with Helsinki-based design house Marimekko saw tepid response, according to news reports. But that didn't surprise or disappoint Target.
By Daphne Howland • April 18, 2016 -
Deep Dive
Retail Therapy: The strange selling power of celebrities
How do you sell $80 furry sandals? With Rihanna, of course!
By Kelsey Lindsey • April 15, 2016 -
Sports Authority bankruptcy auction pushed to May
Several entities are reportedly interested in bidding on Sports Authority's assets, including Dick’s Sporting Goods and Modell’s.
By Daphne Howland • April 15, 2016 -
Report: Amazon eyed multiple startups to boost fashion cred
Amazon considered acquiring Everlane, Rent The Runway, ThirdLove, and others, according to TechCrunch.
By Daphne Howland • April 15, 2016 -
CVS expands Hispanic-focused 'Pharmacy y más' to Los Angeles
The project was developed after research into local tastes and needs, according to the drugstore retailer.
By Daphne Howland • April 15, 2016 -
Survey: Americans favor bargains over 'Made in the USA' goods
The vast majority of consumers say they’d like to buy American, but that it costs too much.
By Daphne Howland • April 15, 2016 -
Gap names supply chain exec to lead Old Navy
Sonia Syngal previously led Gap's enterprise-wide global supply chain efforts.
By Jason Ankeny • April 14, 2016 -
More states question controversial on-call scheduling
The coordinated move follows a similar one last year, an effort that prompted six retail brands to end the practice.
By Daphne Howland • April 14, 2016 -
Deep Dive
Are retailers over-investing in omnichannel at brick-and-mortar's expense?
When Finish Line said it would refocus on the in-store experience, some took it as a sign that it's ditching omnichannel. But is it really an either/or choice?
By Kelsey Lindsey • April 13, 2016 -
US retail sales see surprise drop as consumers remain wary
Although employment has been steady or improving, incomes still must rise for Americans to widen their wallets.
By Daphne Howland • April 13, 2016 -
Abercrombie taps J. Crew vet to help evolve image
The teen retailer is bringing on Ashley Sargent Price as its creative marketing director.
By Daphne Howland • April 13, 2016 -
Tiffany turns to Net-A-Porter to boost online sales
The upscale American jeweler is selling select items for a limited time through the upscale online retailer, but if it’s successful, expect Tiffany to stay there.
By Daphne Howland • April 13, 2016 -
Alibaba buys controlling stake of retailer Lazada for $1b
The acquisition is Alibaba’s largest foreign investment so far, and reflects Southeast Asia’s huge growth potential.
By Daphne Howland • April 12, 2016 -
Petitions call on Amazon, Nike to cut Trump ties
Activists are pressuring Amazon and Nike to follow in Macy's footsteps and distance themselves from the controversial presidential candidate.
By Daphne Howland • April 12, 2016 -
Target teams up with celebrity trainer in newest wellness push
Tracy Anderson has her critics, but the collaboration is a canny merchandising move for Target.
By Daphne Howland • April 12, 2016 -
Under Armour sinks on Spieth meltdown, Morgan Stanley downgrade
As athleisure becomes more fashion forward, sportswear retailers like Under Armour and Nike may need to produce more stylish gear to boost sales.
By Daphne Howland • April 12, 2016 -
Overstock CEO to take 'indefinite' medical leave of absence
Founder Patrick Byrne is stepping down effective immediately to focus on fighting Stage IV hepatitis C.
By Kelsey Lindsey • April 11, 2016 -
UPDATE: American Apparel lays off hundreds in Los Angeles factories
According to the LA Times, 500 employees have been laid off, and the retailer may outsource some merchandise outside of the city.
By Daphne Howland • April 11, 2016