Financial News: Page 91
-
Michaels to be acquired by private equity firm for $5B
Apollo Global Management will tap long-term debt to partly finance the deal, which comes as the crafts retailer enjoys pandemic-fueled sales.
By Daphne Howland • March 3, 2021 -
Tailored Brands seeks $75M lifeline just months after exiting Ch. 11
The owner of Men's Wearhouse is nearing a loan deal as the pandemic continues to weigh on apparel, according to court documents.
By Ben Unglesbee • March 3, 2021 -
Inventory mismatch squeezes Nordstrom's holiday quarter
The problems hurt sales and margins, and led to a performance that was among the worst in both the department store and off-price sectors.
By Daphne Howland • March 3, 2021 -
Courtesy of Target
Target's $15B sales growth in 2020 outpaces past 11 years
The mass merchant's digital sales during the year ballooned by nearly $10 billion, while its same-day services increased by 235%.
By Maria Monteros • March 2, 2021 -
Courtesy of Kohl's
At least 2M Amazon customers went to Kohl's to make a return last year
Kohl's CEO Michelle Gass said a third of those new visitors were millennials, but hasn't revealed just how much the extra traffic actually drives sales.
By Daphne Howland • March 2, 2021 -
Cara Salpini/Retail Dive
Paper Source files for bankruptcy with plans to sell itself
A year ago, the retailer acquired 30 stores from Papyrus as that gift seller was liquidating. And then the COVID-19 pandemic derailed its growth.
By Ben Unglesbee • March 2, 2021 -
Courtesy of Nike
Nike's head of North America resigns
Ann Hebert spent over 25 years with the sportswear giant and is leaving following a Bloomberg report on her son's sneaker reselling business.
By Cara Salpini • March 2, 2021 -
Daphne Howland/Retail Dive
Macy's shakes up leadership, nixes COO role
The departure and arrival of certain top executives suggests major changes afoot for the department store's physical and digital strategies.
By Daphne Howland • March 2, 2021 -
Fabletics releases fitness app
Like other activewear brands, the company is shifting its focus toward digital engagement and benefiting from the home workout trend.
By Tatiana Walk-Morris • March 2, 2021 -
Courtesy of Thinx
Thinx launches more affordable line at Target
The brand will also add the products to CVS and Urban Outfitters later this year.
By Maria Monteros • March 1, 2021 -
Courtesy of Walmart
Walmart drops $35 minimum purchase for 2-hour delivery
The retailer introduced its rapid Express service amid the pandemic as shoppers avoided stores.
By Ben Unglesbee • March 1, 2021 -
Courtesy of Nordstrom
Nordstrom partners with at-home fitness startup Tonal
The deal helps the retailer meet escalating demand for workout gear and reflects its willingness to work with up-and-coming brands.
By Daphne Howland • March 1, 2021 -
Courtesy of David's Bridal
David's Bridal debuts the Little White Dress Boutique
The collection, which starts at $90, is meant to reach a more casual bride, brought about by the downsizing of wedding events during the pandemic.
By Kaarin Moore • March 1, 2021 -
Dillenbeck, John. (2018). "Marshall Field's Building Chicago" [photograph]. Retrieved from Flickr Pro.
Deep DiveMacy's Windy City blues
The department store is closing its Magnificent Mile location in Chicago. Some who remember Marshall Field's wish it had never arrived.
By Daphne Howland • March 1, 2021 -
Outdoor Voices
Outdoor Voices names Urban Outfitters vet CEO
Gabrielle Conforti, who has 15 years of retail and apparel experience, will be in charge of launching products and setting the vision for the DTC brand.
By Caroline Jansen • Feb. 26, 2021 -
Bernie Sanders' mittens propelled $1.9M in Etsy sales last month
The marketplace embraced its maker ethos after a detour a few years ago. That and demand for masks led to massive growth during the pandemic year.
By Daphne Howland • Feb. 26, 2021 -
NRF: 2021 retail sales could rise more than 8% on vaccine rollout
The trade group estimates that the figure could top $4.3 trillion as consumers return to stores and the economy bounces back.
By Ben Unglesbee • Feb. 26, 2021 -
Best Buy
Best Buy cuts 5K jobs as it shifts to more part-time workers
The electronics retailer is also closing stores and reducing sales space as it preps for long-term digital shifts.
By Ben Unglesbee • Feb. 26, 2021 -
Courtesy of Sephora
Sephora plans 260-store expansion through Kohl’s, owned stores
Sixty of the stores will be freestanding Sephora locations, as part of a "2020 strategy shift due to the impact of the pandemic."
By Cara Salpini • Feb. 26, 2021 -
Courtesy of Target
Target to roll out dedicated Apple shops inside 17 locations
The recent announcement is the latest shop-in-shop partnership the retailer has made following similar deals with Ulta and Disney.
By Maria Monteros • Feb. 25, 2021 -
Cara Salpini/Retail Dive
Victoria's Secret to close as many as 50 more stores this year
L Brands' Bath & Body Works will also continue to shift away from enclosed malls, where stores have lower conversion rates than at off-mall locations.
By Daphne Howland • Feb. 25, 2021 -
Courtesy of Madison Reed
Madison Reed rakes in $52M to fuel 'omnichannel expansion'
The DTC hair color brand saw 130% growth in 2020, and opened 16 of its Color Bars, as part of a plan to expand to 600.
By Cara Salpini • Feb. 25, 2021 -
Kendall Davis/Retail Dive
Podcast
The Backroom: Amazon enters a new phase
The team talks about how retailers have paved their own way, as Jeff Bezos prepares to hand over the CEO reins at the e-commerce giant.
By Daphne Howland • Feb. 25, 2021 -
Benefiting from the home category boom, Wayfair posts 45% revenue increase
But the longevity of its success, largely built on pandemic-induced spending trends, remains a question as consumers eventually venture outside the home.
By Caroline Jansen • Feb. 25, 2021 -
Daphne Howland/Retail Dive
Macy's Media Network brings in $35M since launch
Debuted in August, the effort mirrors how other retailers are trying to combine existing capabilities in areas like loyalty with advertising sales.
By Peter Adams • Feb. 24, 2021
Previous
