Financial News


  • A person taking in a package from their front doorstep.
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    Courtesy of Amazon
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    Shoppers find better deals this year as Prime Day fuels record $14.2B across e-commerce

    Consumers avoided big-ticket purchases, but steep discounts drew in back-to-school shoppers and others — and not just at Amazon.

    By July 18, 2024
  • A red sign with the Supreme logo is pictured illuminated at night.
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    The image by cchana is licensed under CC BY-SA 2.0
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    VF sells Supreme for $1.5B

    Luxury eyewear company EssilorLuxottica agreed to buy the brand, and the deal is expected to close at the end of the year.

    By Laurel Deppen • July 18, 2024
  • Trendline

    The direct-to-consumer landscape in retail

    More mature brands are pursuing exit strategies and expanding their reach, while traditional retailers are increasingly shifting to a DTC model.

    By Retail Dive staff
  • The exterior of a Five Below store during the daytime with a blue sky
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    Courtesy of Five Below
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    Five Below CEO Joel Anderson resigns

    The executive left “to pursue other interests” and will be replaced by COO Ken Bull in the interim. The discount retailer also cut its Q2 guidance.

    By July 17, 2024
  • An Adidas store stands in Manhattan on October 25, 2022 in New York City.
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    Spencer Platt via Getty Images
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    Adidas raises guidance again as Q2 sales surge 9%

    Even without Yeezy, the activewear giant’s sales are trending strongly in the right direction as styles like the Samba gain renewed steam.

    By July 17, 2024
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    Daphne Howland/Retail Dive
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    Macy’s ends talks with Arkhouse and Brigade, foiling $6.9B takeover

    The firms raised their bid in June, but their financing, tied in part to Macy’s own real estate, was lacking, the department store said Monday.

    By July 15, 2024
  • A person wearing Von Dutch apparel.
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    Courtesy of Von Dutch
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    Column

    The Weekly Closeout: Von Dutch is acquired and Bath & Body Works partners with Crocs

    The fashion company was sold to WSG Brands, while the shoe collab is all decked out in gingham. 

    By Retail Dive Staff • July 12, 2024
  • Two people walk down a store aisle past a sign that reads, "Everyday Low Price."
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    Joe Raedle via Getty Images
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    One-third of consumers cut spending in Q2: report

    Inflation concerns continue to weigh on shoppers, with 84% saying it has affected how they spend their money, according to a report from Jungle Scout.

    By Howard Ruben • July 12, 2024
  • The Nike "swoosh" on the side of a building, with another building seen behind it.
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    Daphne Howland/Retail Dive
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    Nike taps former executive Tom Peddie to return as vice president of marketplace partners

    The 30-year veteran of the athletics retailer, who retired in 2020, is set to return as the company shifts its direct-to-consumer strategy.

    By July 10, 2024
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    Courtesy of Athletic Brewing
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    Nonalcoholic beer maker Athletic boosts coffers with $50M investment

    The financing round will help fund the fast-growing company’s expansion efforts.

    By Christopher Doering • July 10, 2024
  • A Target employee completes an in-store checkout purchase and hands a customer a receipt.
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    Permission granted by Target
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    Target to stop accepting personal checks

    The retailer highlighted that customers will still have six payment options after the change takes effect in about a week.

    By July 9, 2024
  • Jay Foreman stands near a toy display with the Basic Fun company logo in the background.
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    Andrew Kelly/AP

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    Toy company Basic Fun to restructure in bankruptcy

    The downfall of Toys R Us — its largest customer — plus its own supply chain issues and the pandemic have left Chapter 11 as its best recourse.

    By July 3, 2024
  • White puffy clouds against a blue sky, behind a store with a blue and white banner.
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    "Bob's Stores" by Mike Mozart is licensed under CC BY 2.0
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    All Bob’s Stores locations to close

    The retailer was unable to secure the financing necessary to keep operating. The fate of sibling Eastern Mountain Sports remains unclear.

    By July 2, 2024
  • A person walks in front of a Nike store.
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    Kevin Frayer/Getty Images via Getty Images
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    Nike expects more revenue declines ahead after ‘sluggish’ Q4

    CEO John Donahoe said the company is “embracing a more balanced approach” to DTC and wholesale after a rough set of numbers.

    By June 28, 2024
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    Permission granted by Chewy
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    Column

    The Weekly Closeout: Chewy plans $500M share buyback, Conn’s receives Nasdaq delinquency notice

    The online pet retailer agreed to repurchase shares from its largest shareholder, while the home retailer received the notification after not filing its latest quarterly report.

    By Retail Dive Staff • June 28, 2024
  • The Walgreens logo is displayed outside a store.
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    Scott Olson via Getty Images
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    Walgreens to close ‘significant’ number of US stores

    The company is reviewing about 25% of its 8,700 domestic stores, with profitability and level of shrink factoring into which locations stay open. 

    By Rebecca Pifer • June 27, 2024
  • An Amazon Prime delivery truck
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    Courtesy of Amazon
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    Amazon market cap reaches $2 trillion

    As the company reaches a financial milestone, it is reportedly developing a budget marketplace to compete with Temu and Shein.

    By June 27, 2024
  • A store display with a red Levi's sign includes jeans in various shades of blue, folded on shelves and hanging on racks.
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    Daphne Howland/Retail Dive
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    Levi’s DTC growth speeds up in Q2 as wholesale improves

    The iconic jeans maker is responding to demand for looser fits and non-denim categories and plans to expand its global footprint by 70 new stores.

    By June 27, 2024
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    Justin Sullivan via Getty Images
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    Consumers splurge on cosmetics online despite inflation: report

    While shoppers are trading down in categories like electronics and apparel, they’re continuing to buy luxury goods like fragrances and lipsticks, Adobe Analytics found.

    By Howard Ruben • June 27, 2024
  • The Nike "swoosh" on the side of a building, with another building seen behind it.
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    Daphne Howland/Retail Dive
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    Lawsuit claims Nike CEO John Donahoe misled investors about the success of its DTC strategy

    The lawsuit alleges that Donahoe and Chief Financial Officer Matt Friend continually touted the strength of its strategy when in fact it was “unable to generate sustainable revenue growth.”

    By June 25, 2024
  • Naomi Watts sitting near a Stripes Beauty product
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    Courtesy of Stripes Beauty
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    L Catterton acquires Naomi Watts’ Stripes Beauty

    As part of the deal, the brand has named ex-Revlon CEO Debra Perelman as executive chair.

    By Howard Ruben • June 25, 2024
  • DTC EBIT margins ‘meaningfully below’ wholesale, per report

    BMO Capital Markets found that brands that grew DTC did not see a notable increase in revenue, merchandise margins, EBIT margins or EBIT dollars.

    By Howard Ruben • June 24, 2024
  • Under Armour to pay $434M to settle lawsuit that claimed Kevin Plank misled investors

    If approved, the agreement requires the retailer to keep its CEO and chair roles separate for three years and install a performance-based condition for some executive stock benefits.

    By June 24, 2024
  • Two of Stanley's Quencher tumblers in blue and orange.
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    Permission granted by Stanley
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    Arc’teryx, Stanley among fastest-growing outdoor brands

    A report from Circana found the two brands led the apparel and equipment accessories segments, respectively, with strong year-over-year growth.

    By June 24, 2024
  • A mall store with a "JC Penney" banner in white letters on a wood-paneled background.
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    Daphne Howland/Retail Dive
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    J.C. Penney Q1 loss widens as sales fall 8%

    The department store’s start to the year was fairly weak, though improvements to merchandise and some stores have paid off, GlobalData said.

    By June 24, 2024
  • Big Lots to remain open on Thanksgiving.
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    Courtesy of Big Lots
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    Column

    The Weekly Closeout: Big Lots issues ‘going concern’ warning and Amazon ditches plastic air pillow packaging

    The discount retailer said it may not meet its credit and term loan obligations, while Amazon aims to drop plastic air pillows in North American shipments by the holidays.

    By Retail Dive Staff • June 21, 2024