Financial News: Page 5
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Caroline Jansen/Retail Dive
Allbirds plans reverse stock split to regain Nasdaq compliance
The once-DTC darling was warned of a possible delisting in April and has until the end of the month to regain compliance.
By Cara Salpini • Sept. 3, 2024 -
Daphne Howland/Retail Dive
Off-price retailers poised to take even more market share from department stores
TJX, Ross and Burlington all enjoyed higher sales and profits in the second quarter.
By Daphne Howland • Sept. 3, 2024 -
Permission granted by Dollar General
Dollar General sees ‘cash-strapped consumer,’ cuts guidance
The company said its core base of lower-income shoppers had less to spend, as it reported top-line results that were below expectations for Q2.
By Nate Delesline III • Aug. 30, 2024 -
Kaarin Vembar/Retail Dive
Ulta slashes guidance again on flat sales and declining comps
Usually a high performer, the beauty retailer is losing share and struggling with the impacts of Sephora’s broad expansion at Kohl’s.
By Cara Salpini • Aug. 30, 2024 -
Courtesy of Abercrombie & Fitch
ColumnThe Weekly Closeout: Pacsun names CFO, Abercrombie posts ‘record’ Q2 net sales
The teen retailer hired BowFlex, Inc. veteran Aina Konold, while the apparel company saw sales increase 21% year over year to $1.1 billion.
By Retail Dive Staff • Aug. 30, 2024 -
Permission granted by Gap
Gap Inc. CEO: ‘We’re running a fundamentally stronger business’
The retailer gained share in Q2, with Old Navy and namesake Gap making strides. Can the momentum continue?
By Daphne Howland • Aug. 30, 2024 -
Daphne Howland/Retail Dive
A slowing women’s business is hurting Lululemon’s growth
While CEO Calvin McDonald said the Breezethrough leggings debacle had a “negligible impact” on its sales, the brand continues to suffer from other merchandise misses.
By Cara Salpini • Aug. 30, 2024 -
Daphne Howland/Retail Dive
Best Buy revenue falls 3% in Q2
The electronics retailer is updating in-store merchandising across multiple categories as it increasingly competes with big-box rivals for market share.
By Nate Delesline III • Aug. 30, 2024 -
Daphne Howland/Retail Dive
Is Victoria’s Secret finally on the upswing?
Ahead of welcoming a new CEO, the intimates giant bumped up its expectations for the year and the third quarter, when its Fashion Show returns.
By Daphne Howland • Aug. 29, 2024 -
Daphne Howland/Retail Dive
Kohl’s CEO ‘disappointed’ with 4.2% sales drop in Q2
As the retailer nears having a Sephora in every store and 200 Babies R Us openings, there's still “work to do” to improve apparel and footwear sales, the executive said.
By Nate Delesline III • Aug. 29, 2024 -
Courtesy of Foot Locker
Foot Locker to exit several international markets, move headquarters to Florida
Yet another cost-cutting and simplification effort will see the retailer exit South Korea, Denmark, Norway and Sweden by mid-2025, and switch its New York City base for one in St. Petersburg, Florida.
By Cara Salpini • Aug. 28, 2024 -
Daphne Howland/Retail Dive
Anniversary Sale, Rack propel Nordstrom’s Q2 sales
Strong regular-price sales also helped boost margins, but the retailer raised its guidance only slightly.
By Daphne Howland • Aug. 28, 2024 -
Caroline Jansen/Retail Dive
What lies ahead for Bonobos under new ownership
The DTC darling has changed hands several times over the past decade. Does that matter?
By Caroline Jansen • Aug. 28, 2024 -
Courtesy of Big Lots
Big Lots offers $5.2M in retention bonuses to 4 executives
The move could signal a potential bankruptcy on the horizon, according to Debtwire's global head of legal and restructuring.
By Nate Delesline III • Aug. 27, 2024 -
Joe Raedle / Staff via Getty Images
Consumers tap credit cards, loans to manage inflation: Fed report
Gen Z and millennials were the age groups most likely to use loans and credit cards in response to higher prices, a Federal Reserve research report said.
By Lynne Marek • Aug. 27, 2024 -
Daphne Howland/Retail Dive
Urban Outfitters sees return to ‘pre-COVID behavior’ as sales slow in recent weeks
The apparel conglomerate’s CEO said that, starting in July, already careful shoppers grew even more selective, which could be a new reality.
By Daphne Howland • Aug. 23, 2024 -
Ace Hardware sales up 3% as it leans into stores
The retailer debuted its Elevate Ace store concept in the quarter and is on track to open 200 stores by the end of the year.
By Nate Delesline III • Aug. 23, 2024 -
Courtesy of Hollister
ColumnThe Weekly Closeout: Amazon’s October sales event returns and Hollister goes back to school
The e-commerce giant is prepping for its unofficial holiday kickoff event, while the apparel brand launched a collection featuring over 30 U.S. universities.
By Retail Dive Staff • Aug. 23, 2024 -
Permission granted by Peloton
Peloton projects nearly 10% sales decline for the year
CFO Liz Coddington expects “softness” in connected fitness demand in the medium term, but remains optimistic about the category’s growth potential.
By Caroline Jansen • Aug. 22, 2024 -
insta_photos via Getty Images
Survey: 31% of back-to-school shoppers will take on debt
While that’s relatively flat to 2022, there are fewer shoppers this year opting for cheaper brands or using other money saving strategies, Bankrate found.
By Nate Delesline III • Aug. 22, 2024 -
Daphne Howland/Retail Dive
Same day services, price cuts drive Target growth in Q2
Results show that deal-hunting consumers are “still willing and able to spend,” said the retailer’s Chief Commercial Officer Rick Gomez.
By Nate Delesline III • Aug. 21, 2024 -
Courtesy of Unified Commerce Group
Steve Madden sells Greats to Unified Commerce Group
The upscale sneaker label will join apparel brands Frank And Oak and Spiritual Gangster on the growing retail platform.
By Lara Ewen • Aug. 21, 2024 -
Daphne Howland/Retail Dive
Macy’s Q2 sales disappoint as stores slated for closure post steep declines
The department store is preparing for its all-important holiday quarter with a value message that goes beyond discounts, executives said.
By Daphne Howland • Aug. 21, 2024 -
Daphne Howland/Retail Dive
Lowe’s lowers guidance amid Q2 sales, profit declines
The home improvement retailer was hit by bad weather and a soft housing market, but some analysts say it’s poised to take share.
By Daphne Howland • Aug. 20, 2024 -
Courtesy of Under Armour
Deep DiveKevin Plank can’t let go of Under Armour. Is that hampering a turnaround?
Three CEOs have come and gone in the four years since Plank stepped down. Now, the sportswear brand’s founder is back with another plan to revive the brand amid flagging sales and relevance.
By Cara Salpini • Aug. 19, 2024
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