Financial News: Page 6
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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 -
Noam Galai via Getty Images
Fabrizio Freda prepares to step down as Estée Lauder CEO
Freda has been at the helm for 16 years and will exit in the midst of a turnaround that has entailed layoffs and other leadership change.
By Daphne Howland • Aug. 19, 2024 -
Courtesy of Dillard's
Dillard’s Q2 disappoints as net income plunges
The company said it’s working to better align expenses with sales, but UBS analysts warn that margin and profit declines will likely continue.
By Daphne Howland • Aug. 16, 2024 -
Angela Weiss via Getty Images
Deckers sells Sanuk to apparel brand
The footwear brand will become part of Lolë Brands as the athleticwear company eyes portfolio expansion.
By Laurel Deppen • Aug. 16, 2024 -
Kaarin Vembar/Retail Dive
Walmart e-commerce sales surge 21%, but profitability remains elusive
E-commerce losses narrowed in the quarter, as CEO Doug McMillon told analysts the retailer will “eventually make money in e-commerce.”
By Nate Delesline III • Aug. 15, 2024 -
Courtesy of Trove
Trove acquires competing resale platform Recurate
The combined company will oversee 44 partners and control up to 80% of branded resale traffic in the U.S. as a result of the deal.
By Lara Ewen • Aug. 15, 2024 -
Daphne Howland/Retail Dive
Victoria’s Secret brings on Savage x Fenty head Hillary Super as CEO
Martin Waters is out as the chief executive as of Tuesday, but will stay on in a nonexecutive capacity with the company through the end of August.
By Nate Delesline III • Aug. 14, 2024 -
Courtesy of The Home Depot
SRS Distribution deal helps Home Depot return to sales growth in Q2
Even as the retailer raised full-year guidance, it continues to feel the impact of a challenging housing market and broader economic uncertainty.
By Nate Delesline III • Aug. 13, 2024 -
Courtesy of On
Like Nike before it, On plans to grow margins via DTC sales
A nine-fold boost to profits in Q2 nevertheless missed some analysts’ expectations, as margins inched up only slightly.
By Daphne Howland • Aug. 13, 2024 -
Marina Demidiuk via Getty Images
Toy sales stabilize in first half of year
“The tide is turning for the industry,” according to a new report from Circana. But there are no guarantees for the second half of 2024.
By Kaarin Moore • Aug. 13, 2024 -
Permission granted by Grove Collaborative
In latest effort to trim costs, Grove Collaborative switches to Shopify
The sustainably-minded consumer products company reported expanded margins and narrowed losses in Q2, but sales and active customers declined.
By Daphne Howland • Aug. 13, 2024 -
"Lumber Liquidators store, 2321 Ellsworth Road, Ypsilanti Township, Michigan." by Dwight Burdette is licensed under CC BY 3.0
LL Flooring files for bankruptcy with plans to close 94 stores
The company is pursuing a sale of its business and said it has a commitment for $130 million in debtor-in-possession financing from existing lenders.
By Nate Delesline III • Aug. 12, 2024 -
Funko delivers first sales growth, profit in almost 2 years
Yves LePendeven, who was serving as acting CFO since March, was also named to take over the role permanently.
By Nate Delesline III • Aug. 9, 2024 -
Daphne Howland/Retail Dive
Warby Parker notches highest e-commerce growth in 13 quarters
With e-commerce revenue growth of 4.4% in Q2, the DTC eyewear brand is making progress against the goals it outlined at the start of the year.
By Caroline Jansen • Aug. 9, 2024 -
Kaarin Vembar/Retail Dive
Under Armour sales fall 10% as Kevin Plank vows to sell more than ‘just a logo’
“We recognize where we are, we’re not crazy about it, but we’re also doing something to change the weather,” the executive said Thursday.
By Cara Salpini • Aug. 8, 2024 -
Tempur Sealy CEO ‘confident’ in acquiring Mattress Firm despite FTC challenge
Amid a drop in Q2 sales, Scott Thompson said the company has agreements with Mattress Firm suppliers that will go into effect after the deal’s closing.
By Tatiana Walk-Morris • Aug. 8, 2024 -
Denton Harryman. (2022). "The Allbirds store in the SouthEnd district new uptown Charlotte." [Photograph]. Retrieved from Flickr.
Store closures a factor in Allbirds Q2 sales nosedive
Executives said new designs are performing well, but the DTC footwear brand’s sales fell 27% in the period.
By Daphne Howland • Aug. 8, 2024 -
Keith Tsuji via Getty Images
VF revenue remains down despite ‘modest improvement’ at Vans
The struggling sneaker brand is showing signs of recovery in Europe, the Middle East and Africa, as its holding company works to boost its desirability.
By Laurel Deppen • Aug. 8, 2024 -
Courtesy of Hilco Merchant Resources
UK retailer Mountain Warehouse offers $5M stalking horse bid for Eastern Mountain Sports
Absent a higher offer, the U.K.-based outdoor gear retailer plans to keep less than half of the chain’s stores running.
By Daphne Howland • Aug. 7, 2024 -
The Container Store sales fall 12% in Q1
The results for the quarter, which included online sales decreasing nearly 26%, show a company "that remains in freefall," according to one analyst.
By Nate Delesline III • Aug. 7, 2024 -
Courtesy of ThredUp
ThredUp to exit Europe
The secondhand apparel company is also exploring strategic alternatives for Remix. Meanwhile, it reported a drop of nearly 4% in revenue in Q2.
By Kaarin Moore • Aug. 7, 2024 -
Justin Sullivan via Getty Images
Prestige beauty sales continue to outpace mass with 8% growth in the first half of the year
High-end fragrance was a bright spot, rising 12%, but its popularity is also driving sales of mass products and private-label dupes.
By Tatiana Walk-Morris • Aug. 7, 2024
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