Financial News: Page 96
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Courtesy of Etsy
Etsy will buy the 'Etsy of Brazil' for $217M
The acquisition helps push the artisan marketplace beyond its core markets, continuing a measured but ambitious expansion.
By Daphne Howland • June 28, 2021 -
'Listen to the frontline': Hubert Joly on the art of the turnaround at Best Buy
The former CEO's own friends called him crazy for taking on a retailer left for dead. Today Best Buy is the poster child of thriving in the Amazon age.
By Ben Unglesbee • June 25, 2021 -
Courtesy of Nike
Nike plans for $50B in revenue next year
By 2025, the company expects to reach a 60% DTC business and 50% digital, through both owned and partner channels.
By Cara Salpini • June 25, 2021 -
Courtesy of GOAT
GOAT valuation doubles to $3.7B following $195M funding round
The company, which was primarily known as a sneaker resale marketplace before adding apparel and accessories, will expand its global footprint.
By Tatiana Walk-Morris • June 25, 2021 -
Daphne Howland/Retail Dive
Best Buy plans to spend $1.2B on diverse suppliers across its business
The retailer joins Target and others in an effort to diversify supplier bases. The initiatives' success depends on their centrality within an organization.
By Ben Unglesbee • June 24, 2021 -
Courtesy of Amazon
All retailers win as biggest Prime Day ever pushes US e-commerce above $11B
Online sales surpassed Cyber Monday and Amazon benefited the most, but the early summer event got shoppers into stores, too.
By Daphne Howland • June 24, 2021 -
Kendall Davis/Retail Dive
Podcast
The Backroom: In e-commerce, it's growth versus profits
In 2020, digital operations saved retailers when consumers couldn't or wouldn't visit stores. But how sustainable is online retail in the long run?
By Daphne Howland • June 24, 2021 -
Daphne Howland/Retail Dive
Warby Parker confidentially files to go public
The eyewear company, which launched in 2010, was among the first class of direct-to-consumer brands to enter the scene, popularizing the DTC model.
By Caroline Jansen • June 23, 2021 -
PVH to sell Izod, Van Heusen and other labels to Authentic Brands for $220M
The apparel conglomerate is focusing on its core Tommy Hilfiger and Calvin Klein brands, while Authentic Brands continues its acquisition spree.
By Ben Unglesbee • June 23, 2021 -
Daphne Howland/Retail Dive
Victoria's Secret seeks $500M loan to fund split with Bath & Body Works: Bloomberg
The retailer has indicated it could take on as much as $1 billion in debt to pay back to L Brands on its way out the door.
By Ben Unglesbee • June 22, 2021 -
Sean Gallup via Getty Images
PayPal to increase merchant fees in August
The company is raising some U.S. transaction fees despite a crowd of competitors angling to lure merchants and consumers to alternative payment services.
By Lynne Marek • June 22, 2021 -
Westfield turns over Florida mall to lenders
The mall operator has been reducing its portfolio of malls in the U.S. to focus on Europe.
By Ben Unglesbee • June 21, 2021 -
Getty Images
Sponsored by SplititAre all BNPL solutions the same?
BNPL options may be creating additional friction that lead to cart abandonment.
June 19, 2021 -
Staples Inc. parts with CEO as owner Sycamore Partners plots Office Depot takeover
The chief of the Staples distribution business is out as the Staples retail company tries to acquire a rival.
By Ben Unglesbee • Updated June 18, 2021 -
Bruce Bennett via Getty Images
An influential critic of Amazon and big tech now chairs the FTC
Lina Khan was counsel for a House committee that scrutinized tech platforms and entered the spotlight with a paper that took aim at Amazon's market power.
By Ben Unglesbee • June 16, 2021 -
Daphne Howland/Retail Dive
Deep DiveCustomers love them. Investors love them. But which online players can survive in the long run?
As they seek scale, some of the fastest-growing e-commerce firms have a license from investors to burn cash. A business can't lose money forever, though. (Right?)
By Ben Unglesbee • June 16, 2021 -
Raysonho. (2016). "Saks Fifth Avenue in Toronto" [photograph]. Retrieved from Wikimedia Commons.
NBA star James Harden joins board of new digital Saks spinoff
One of pro basketball's most prolific scorers and stylish players has taken a minority stake in the new e-commerce company.
By Ben Unglesbee • June 15, 2021 -
Courtesy of Boxed
Boxed to go public in SPAC deal valuing online grocer at $900M
The merger, which keeps existing CEO Chieh Huang at the helm, is expected to be completed by the end of the year.
By Catherine Douglas Moran • June 14, 2021 -
Citing COVID-19, mall REIT Washington Prime Group lands in bankruptcy court
But like most of the retailers filing under Chapter 11 in the past several months, the company's woes predate the pandemic.
By Daphne Howland • June 14, 2021 -
Iconix Brands to be acquired by private equity firm
Lancer Capital has agreed to buy the brand aggregator, which has been searching for a solution to its debt load for years.
By Ben Unglesbee • June 14, 2021 -
Astrid Stawiarz via Getty Images
Klarna raises $639M, eyes international expansion
Klarna, now with a $45 billion market valuation, aims to expand its global market share and in-store buy now, pay later options.
By Vaidik Trivedi • June 14, 2021 -
Permission granted by Wilmington Air Park
No end in sight for Amazon's e-commerce growth: S&P
With a major structural shift toward more digital shopping underway, the company is poised to continue its history of dominance, analysts said.
By Ben Unglesbee • Updated June 11, 2021 -
NRF now says retail sales could grow as much as 13.5% this year and top $4.4 trillion
The organization previously pegged growth at 6.5% but now says vaccines and the government's financial support to consumers have spiked the economy.
By Daphne Howland • June 11, 2021 -
Alex and Ani files for bankruptcy, hoping for a sale
Leadership turmoil and significant debt were hobbling the charm bracelet maker. Then last year came a ransomware attack and the pandemic.
By Daphne Howland • June 10, 2021 -
Cara Salpini/Retail Dive
GameStop fills CEO, CFO spots with former Amazon execs
The retailer has filled out its leadership ranks with e-commerce veterans as it undertakes an overhaul of its model.
By Ben Unglesbee • June 10, 2021
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