Financial News: Page 85
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Courtesy of Walmart
Walmart maintains growth with online sales up 37%
After a "strong" first quarter, CEO Doug McMillon said the retailer expects "continued pent-up demand" throughout the year.
By Maria Monteros • May 18, 2021 -
Bark
Ahead of public debut, BarkBox parent posts 79% revenue increase
The brand reported preliminary Q4 results before a shareholder vote at the end of this month to approve its acquisition by Northern Star Acquisition Corp.
By Caroline Jansen • May 18, 2021 -
Daphne Howland/Retail Dive
Macy's credits speedy vaccinations, pandemic relief for Q1 rebound
People are buying apparel again — even dresses — after living in sweats during the pandemic, but a comparison to 2019 reveals a retailer in decline.
By Daphne Howland • May 18, 2021 -
Courtesy of Casper
Growth in wholesale helps push Casper's revenue up 13% in Q1
Revenue from the brand's retail partners, which include Nordstrom and Sam's Club, increased 53.7%, while its DTC business saw an 11.1% rise.
By Caroline Jansen • May 18, 2021 -
Permission granted by At Home Group
At Home's largest shareholder to vote against sale
CAS Investment Partners, which owns about 17% of the retailer's common stock, sent a letter to the board opposing the sale to Hellman & Friedman.
By Caroline Jansen • May 17, 2021 -
Retrieved from Overstock on May 12, 2021
How Overstock learned to love retail again
CEO Jonathan Johnson discusses why he brought the company back to its roots and away from the blockchain experiments that infatuated his predecessor.
By Ben Unglesbee • May 17, 2021 -
Dillard's surprises with 73% sales spike
Vaccinations, stimulus and warm weather drove up margins, profits and the top line, a sign of major recovery from last year's declines.
By Ben Unglesbee • May 14, 2021 -
Sean Gallup via Getty Images
PayPal acquires returns startup Happy Returns
After investing in the startup in 2019, the payments platform is now buying it, to better serve consumers throughout their purchase journey.
By Tatiana Walk-Morris • May 14, 2021 -
Courtesy of Walmart
Walmart to acquire virtual fitting room startup Zeekit
The testing technology's three founders — Yael Vizel, Alon Kristal and Nir Appleboim — will join Walmart as part of the deal.
By Maria Monteros • May 13, 2021 -
Raysonho. (2016). "Saks Fifth Avenue in Toronto" [photograph]. Retrieved from Wikimedia Commons.
The digital Saks raises $465M in debt capital to fuel growth
The funding is aimed at helping the newly separated e-commerce company capitalize on an expanding market in online luxury retail.
By Ben Unglesbee • May 13, 2021 -
Ralph Lauren unloads Club Monaco to private equity
The apparel company has been working to sharpen its focus and trim its portfolio, including turning its low-cost Chaps brand into a licensed business.
By Daphne Howland • May 13, 2021 -
Centric Brands adds to exec ranks, board as it eyes post-bankruptcy growth
The licensing specialist has brought in a former Pandora executive and past president of Lord & Taylor to help lead it in a new era.
By Ben Unglesbee • May 12, 2021 -
alvarez via iStock
Report: Retail tech investments at fastest run rate in 5 years
The enhancement of supply chain and omnichannel capabilities continue to drive funding as retailers approach a post-pandemic world, CB Insights found.
By Maria Monteros • May 12, 2021 -
"Nordstrom wing of the Fashion Centre at Pentagon City" by Ben Schumin is licensed under CC BY-SA 2.0
Simon Q1 shows a mall business on the mend, but in flux
Traffic and purchases are recovering, but the REIT is signing more temporary leases, agreeing to more rents based on sales and leaving some space empty.
By Daphne Howland • May 12, 2021 -
Cara Salpini/Retail Dive
Paper Source to be acquired in Ch. 11 by owner of Barnes & Noble
Elliott Investment Management emerged as the successful bidder for the gift specialist and sees it as "highly complementary" to the book retailer.
By Ben Unglesbee • May 11, 2021 -
Dean Mitchell via Getty Images
Sponsored by KatapultRetailers are leaving almost half of American consumers without an option to buy
Three reasons why lease-to-own is the best option for retailers that want to expand the number of customers that can engage with their brands.
May 10, 2021 -
Courtesy of https://corporate.walmart.com/photos/walmart-store-exterior-at-night
Walmart acquires telehealth provider MeMD, upping competition in telehealth space
Bringing the telehealth vendor under Walmart's umbrella may pit the big-box retailer directly against Amazon in the virtual care arena.
By Rebecca Pifer • May 7, 2021 -
Permission granted by At Home Group
At Home to be acquired by private equity firm for $2.8B
After years of speculation of a sale, Hellman & Friedman entered into a definitive agreement with the retailer that would take it private.
By Caroline Jansen • May 7, 2021 -
Cara Salpini/Retail Dive
GameStop upgraded as it raises cash for turnaround and pays off debt
After raising more than half a billion dollars from a stock market bullish on the retailer, it has more flexibility to invest in digital efforts.
By Ben Unglesbee • May 7, 2021 -
Daphne Howland/Retail Dive
Brookfield sells off its interest in Forever 21 as retail drags down Q1
The REIT, which is set to go private in the third quarter, also recently walked away from three malls with delinquent loans.
By Daphne Howland • May 7, 2021 -
Courtesy of Walmart corporate blog
Walmart gives diverse suppliers option for early payment to help increase access to capital
The retailer is expanding its early payments program through a partnership with the financial technology company C2FO.
By A.B. Brown • May 7, 2021 -
Wayfair CEO sees growth potential post-pandemic
The retailer, which has largely benefited over the past year by operating both online and in an in-demand category, reported 49% revenue gains in Q1.
By Caroline Jansen • May 6, 2021 -
J.C. Penney cuts 650 jobs under new owners
The layoffs came after an operational review by Simon Property Group and Brookfield Asset Management.
By Ben Unglesbee • May 6, 2021 -
Office Depot parent plans to break up its retail and B2B businesses
The office supplies retailer intends to split itself into two separate companies shortly after rebuffing an offer from Staples and its backer, Sycamore Partners.
By Ben Unglesbee • May 6, 2021 -
Courtesy of Nogin
ModCloth changes hands once again
When financial firm Go Global Retail bought the brand from Walmart in 2019, it wasn't interested in quickly flipping it, but the pandemic interfered.
By Daphne Howland • May 6, 2021
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