Financial News: Page 47

  • A Rent the Runway subscriber searches the company's "closet in the cloud" on mobile.
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    Permission granted by Rent the Runway
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    Why some digital natives are always tweaking their models

    Shaking up a business can be a sign of innovation, or trouble. For DTC brands, the best move may be found in retail’s oldest playbook.

    By • Jan. 11, 2023
  • Puffy clouds in a blue sky frame a storefront that says "Bed Bath & Beyond" in large dark letters.
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    Daphne Howland/Retail Dive
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    Bed Bath & Beyond sales fall 33% in Q3 as it seeks strategic alternatives

    After warning of a potential bankruptcy filing last week, the struggling home retailer’s operating loss swelled to over $450 million during the quarter.

    By • Jan. 10, 2023
  • A Five Below discount store.
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    "https://www.flickr.com/photos/jeepersmedia/14853082845/in/photolist-2k8nwKQ-2jkjsvv-oCvW4g-oCuf3U-oEgTw6-oCufvN-oAuaV1-oCfiot-oAub5j-om2TrM-2ihyE2T-ofj1tt-oEgSPe-om2vPR-oCvUVV-om2ajd-2pC7eGW-owLTPE-2m" by Mike Mozart is licensed under CC BY 2.0
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    Five Below to convert hundreds of stores to higher-priced concept

    The discounter sees roughly twice the spend from customers who purchase Five Beyond products and has received positive feedback on the format. 

    By • Jan. 10, 2023
  • Bed Bath & Beyond
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    Bruce Bennett via Getty Images
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    Fitch: Gulf between retail’s winners and losers to widen in 2023

    Default rates will likely remain low, but the firm is watching for bankruptcies from major players like Party City, Rite Aid and Bed Bath & Beyond.

    By • Jan. 10, 2023
  • To the right of a mall store entrance, a minimalist gray granite facade features the red and white Lululemon logo and white lettering.
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    Daphne Howland/Retail Dive
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    Lululemon’s stock drops after margin warning

    The athletics company raised its revenue expectations for the quarter, but it has a lot of inventory to clear through after the holidays.

    By Dani James • Jan. 9, 2023
  • Give Love is in lights on the storefront of Macy's in Herald Square in NYC.
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    Kaarin Vembar/Retail Dive
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    Macy’s lowers holiday sales prediction

    The department store managed to maintain its guidance within its previous range, but its warning suggests that it lost market share, analysts say.

    By • Jan. 9, 2023
  • Poshmark introduces shoppable Poshmark Stories feature
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    Courtesy of Poshmark
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    Naver closes on Poshmark acquisition

    The resale marketplace has stopped trading on the Nasdaq as a result of the deal.

    By • Jan. 9, 2023
  • Interior shot of a busy mall.
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    danielvfung via Getty Images
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    Deep Dive

    9 retail trends to watch in 2023

    With the threat of a recession looming, the new year brings about a slew of challenges for retailers — but not all is gloomy.

    By Retail Dive Staff • Jan. 9, 2023
  • A corner store with lit signage in various colors reads "Walgreens Drugs, photo, cosmetics, prescriptions." Red "Walgreens" signs adorn the sign and a big circular overhang above the corner door.
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    Daphne Howland/Retail Dive
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    Column

    The Weekly Closeout: Tuesday Morning to go private and Walgreens ‘cried too much’ over theft

    The discount home brand is taking itself off the Nasdaq Stock Market, while the drugstore admitted it might have overblown the theft issue.

    By Retail Dive Staff • Jan. 6, 2023
  • Bed Bath & Beyond
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    Bruce Bennett via Getty Images
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    Bed Bath & Beyond warns it could file for bankruptcy

    The struggling home retailer issued a "going concern" warning as sales continue to slide and losses widen.

    By • Jan. 5, 2023
  • A person wearing glasses leans over a table with sketches as a child looks on.
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    Courtesy of Stitch Fix
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    Stitch Fix cuts 20% of salaried staff, CEO steps down

    Founder Katrina Lake has returned to take over from Elizabeth Spaulding in the interim as the company searches for a new chief executive.

    By • Jan. 5, 2023
  • A Hydro Flask water bottle.
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    "Hydro Flask" by Tony Webster is licensed under CC BY 2.0
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    Hydro Flask, Drybar owner to cut 10% of global workforce

    Helen of Troy saw net sales revenue decrease across all segments in its third quarter, while operating and net incomes both fell by double digits.

    By Dani James • Jan. 5, 2023
  • Amazon Go Mill Creek
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    Jeff Wells/Retail Dive
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    Amazon layoffs will top 18K, many in retail

    The e-commerce giant misjudged the longevity of the pandemic’s impact on demand, and its cuts could undermine its innovation, analysts say.

    By • Jan. 5, 2023
  • A red bullseye logo with the word Target underneath decorates a storefront against a bright blue sky with puffy white clouds.
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    Daphne Howland/Retail Dive
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    Wells Fargo downgrades Target amid signs the worst isn’t yet over

    The analysts, saying the mass merchant’s troubles may go deeper than many observers appreciate, have downgraded its stock.

    By • Jan. 4, 2023
  • Amazon logo on a sign
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    David Ryder via Getty Images
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    Amazon snags $8B term loan

    The e-commerce giant said the “uncertain macroeconomic environment” pushed it to use a variety of financing options over the past few months. 

    By Dani James • Jan. 4, 2023
  • Three signs plastered to a grey tiled wall announce a store liquidation sale, with the middle one saying that "Everything must go!"
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    Daphne Howland/Retail Dive
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    Sears Hometown stores disappearing from rural America

    Liquidation sales are ongoing at 115 locations across 36 states and Puerto Rico, amid the Sears-affiliated home goods retailer's bankruptcy.

    By • Jan. 4, 2023
  • Sundry
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    Retrieved from Sundry on January 25, 2022
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    Digital Brands Group completes Sundry acquisition

    The direct-to-consumer company took on new debt and closed a $10 million public offering last month to help finalize the deal.

    By Dani James • Jan. 3, 2023
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    Bark
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    Bark names chief financial officer

    Zahir Ibrahim replaces Howard Yeaton, who has been serving as interim CFO since late 2021, and comes with nearly three decades of financial experience.

    By • Jan. 3, 2023
  • Storefront of a Rebecca Taylor location.
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    The image by Phillip Pessar is licensed under CC BY 2.0
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    Vince Holding sells intellectual property of Rebecca Taylor

    The IP was purchased by an affiliate of Ramani Group and is part of a strategic effort announced last year to shut down the fashion brand.

    By • Jan. 3, 2023
  • Grove Collaborative Sparks of Joy collection
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    Permission granted by Grove Collaborative
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    Grove Collaborative refinances debt with $72M term loan

    The sustainability-focused consumer products company recently received a delisting notice from the New York Stock Exchange. 

    By Dani James • Jan. 3, 2023
  • An illuminated Nike Style store in Seoul, South Korea, at night.
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    Courtesy of Nike
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    Nike CEO: ‘The inventory peak is behind us’

    The company has worked with Foot Locker CEO Mary Dillon, in addition to other wholesale partners, as it plans its channel strategy.

    By • Dec. 21, 2022
  • Two shelves of Grove Collaborative products.
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    Courtesy of Grove Collaborative
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    Grove Collaborative receives NYSE delisting notice

    The notice comes just six months after the company’s shares began trading on the New York Stock Exchange.

    By • Dec. 21, 2022
  • Mannequins grouped together wearing winter clothes in fake snow.
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    Kaarin Vembar/Retail Dive
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    Consumers are hitting the brakes on apparel purchases: UBS

    Department stores and other retailers dependent on clothing sales face a gloomy 2023 and may shutter more locations, according to the analysts.

    By • Dec. 21, 2022
  • Party City storefront
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    Party CIty
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    Party City faces NYSE delisting

    The troubled retailer has six months to regain compliance with the New York Stock Exchange’s minimum share price requirement. 

    By • Dec. 20, 2022
  • Deciem's The Ordinary
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    Courtesy of Estée Lauder
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    Skincare brands The Ordinary, Dr. Dennis Gross to raise prices

    In social posts giving a heads-up to shoppers, the brands cited the costs of raw ingredients and supply chain logistics as reasons for the change.

    By Dani James • Dec. 20, 2022