Financial News: Page 88
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Banks reportedly seize equity stake in Mall of America
Triple Five Group is handing over stock in the megamall to lenders after defaulting on the American Dream project.
By Ben Unglesbee • March 29, 2021 -
Courtesy of Nuro
New investors join Nuro's Series C funding round
As competitors test autonomous deliveries, Nuro has collaborated with major retailers and won approval from regulators.
By Tatiana Walk-Morris • March 29, 2021 -
Cara Salpini/Retail Dive
L Brands gets a boost from stimulus and easing pandemic rules
The retailer raised its first quarter forecast on "unusual shifts in consumer spending patterns" that are lifting Victoria's Secret and Bath & Body Works.
By Ben Unglesbee • March 26, 2021 -
Ikea assembles chief creative officer role as marketing, product development needs converge
Agency vet Linus Karlsson steps into the newly created position as the home goods retailer tries to keep pace with fast-moving consumer trends.
By Peter Adams • March 26, 2021 -
Cara Salpini/Retail Dive
Report: Nike drops DSW, Urban Outfitters, Macy's in quest for more DTC sales
After the wind down of nine wholesale accounts last August, the retailer has notified seven others of closure, according to Williams Trading.
By Cara Salpini • March 26, 2021 -
Courtesy of Tommy Hilfiger
Tommy Hilfiger hires former Gap exec as CMO
Alegra O'Hare will be responsible for the brand's global marketing strategy, engaging with existing consumers and acquiring new ones.
By Tatiana Walk-Morris • March 26, 2021 -
Gap Inc. sells off Janie and Jack after 2 years
Former Gap CEO Art Peck touted the 2019 acquisition as a great deal with a lot of growth potential, and that's how new owner Go Global sees it too.
By Daphne Howland • March 26, 2021 -
Permission granted by Athleta
Ex-Gap CEO Art Peck launches $200M SPAC
The timing may be awkward, as the Securities and Exchange Commission is reportedly scrutinizing the increasing use of shell corporations to go public.
By Daphne Howland • March 25, 2021 -
Retrieved from Piqsels.
Amazon tests book clubs
The virtual book clubs are currently in an "early access" stage where all customers with an Amazon account are able to join for free.
By Kaarin Moore • March 25, 2021 -
Fanatics hits $12.8B valuation after latest funding round
The sports merchandising retailer has added another $320 million from existing investors as it expands into new territory and product lines.
By Ben Unglesbee • March 25, 2021 -
Kendall Davis/Retail Dive
Podcast
The Backroom: How a $15 minimum wage could impact retail
At the federal level, the minimum wage hasn't changed since 2009 at $7.25 an hour. The team discusses what an increase could mean for the industry.
By Ben Unglesbee • March 25, 2021 -
Permission granted by Care/of
Wellness brand Care/of to drop new vitamin line at Target
The DTC brand's brick-and-mortar partnership will include three different multivitamins and five benefit-led blends.
By Maria Monteros • March 25, 2021 -
Courtesy of Tylko
DTC furniture startup Tylko raises $26M
The company uses AR tech to allow consumers to visualize products in their homes before making a purchase.
By Tatiana Walk-Morris • March 25, 2021 -
Cara Salpini/Retail Dive
GameStop lays out an 'anti-climactic' 2021 plan after highly anticipated Q4 report
Instead of a tech-focused revolution, analysts said the retailer laid out a pretty "normal" retail strategy following a shakeup by Chewy founder Ryan Cohen.
By Ben Unglesbee • March 24, 2021 -
Chico's hires chief digital officer
The retailer appointed Jay Topper to oversee the company's technology functions, supply chain as well as infrastructure and security.
By Tatiana Walk-Morris • March 24, 2021 -
andresr via Getty Images
Consumers set a high customer service bar, but not every brand can deliver
The customer may not always be right, but experts say there's a price to pay when brands don't take care of them.
By Maria Monteros • March 24, 2021 -
Courtesy of Stitch Fix
Second Amazon exec jumps to Stitch Fix
Sharon Chiarella will lead the product, design and technical teams and joins Chief Financial Officer Dan Jedda in making the same leap.
By Daphne Howland • March 23, 2021 -
"DXL Men's Apparel store located in Natick, MA." by JCarnellDXLG is licensed under CC BY-SA 4.0
Destination XL gets $17.5M lifeline
Listed by S&P as among the most vulnerable in retail, the men's apparel seller might have dodged bankruptcy with the capital infusion.
By Ben Unglesbee • Updated March 24, 2021 -
Courtesy of Bed Bath & Beyond
Bed Bath & Beyond kicks off private label rollout with Nestwell launch
Chief Merchandising Officer Joe Hartsig discusses the first of eight owned brands set to debut this year and how they fit into the retailer's turnaround plan.
By Caroline Jansen • March 22, 2021 -
Courtesy of Fabletics
Fabletics to open 24 new stores this year
The expansion, which will bring its footprint to 74 stores, is less ambitious than what was previously announced.
By Daphne Howland • March 22, 2021 -
The image by Michael Rivera is licensed under CC BY-SA 3.0
Shoe Carnival names new CEO
The footwear company's current chief customer officer, Mark Worden, will step into the role as part of a planned succession.
By Kaarin Moore • March 19, 2021 -
Store openings are outpacing closures in 2021: Coresight
So far, retailers collectively plan to open 3,344 stores, many of them dollar stores and other discounters.
By Ben Unglesbee • March 19, 2021 -
Courtesy of Nike
Despite port congestion and revenue declines at home, Nike posts a profit
The company is benefiting from its previous move to sell more directly to consumers, through stores and online, and that's paid off during the pandemic.
By Daphne Howland • March 19, 2021 -
Retrieved from Dollar General on October 08, 2020
Dollar General ramps up expansion of Popshelf concept
The discounter is eyeing 3,000 total locations for the new format, which targets higher income women in suburbs.
By Ben Unglesbee • March 19, 2021 -
Cara Salpini/Retail Dive
Les Wexner to exit L Brands board
The original plan when he stepped down as CEO last year was for the company founder and retail legend to remain as "chairman emeritus."
By Daphne Howland • March 18, 2021
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