Financial News: Page 156
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Several HBC shareholders resist big CEO pay
About a quarter of the company's investors cast non-binding "no" votes on Helena Foulkes' $29.4 million package, among the highest in Canada.
By Daphne Howland • June 24, 2019 -
Deep Dive
Can a new owner rewrite the story of Barnes & Noble?
The bookseller has a healthy balance sheet and brand, as well as a buyer. But that may not be enough to turn around years of lost sales and dashed hopes.
By Ben Unglesbee • June 24, 2019 -
FullBeauty brings on new CEO
Jim Fogarty, who has experience in multi-brand retail and bankruptcy restructuring, replaces Emilie Arel in the role and on the board.
By Daphne Howland • June 21, 2019 -
EBay rolls out AI-based personalization features
The e-commerce company is using machine learning to further support individual shopping patterns.
By Tatiana Walk-Morris • June 21, 2019 -
J.C. Penney and Macy's decry tariffs, warn of price hikes
Proposed import taxes would fall disproportionately on women, who are Penney's core shoppers, and would leave retailers with few short-term options.
By Ben Unglesbee • June 21, 2019 -
The image by Massachusetts Office of Travel & Tourism is licensed under CC BY-ND 2.0
Crate & Barrel acquires home decor brand Hudson Grace
While the addition is relatively small, it could indicate that Crate & Barrel is exploring options with smaller format stores.
By Caroline Jansen • June 20, 2019 -
Snap alum launches curated online store Verishop
The e-commerce storefront promises free two-day shipping and round-the-clock customer service.
By Lisa Rowan • June 20, 2019 -
Fred's to close another 129 stores as it pares down footprint
The ailing drugstore retailer said it was focused on simplifying its store base and paying down debt.
By Ben Unglesbee • Updated July 12, 2019 -
Lululemon shutters men's only stores
A company spokesperson said shoppers have reacted better to the athletics retailer as "a dual-gender brand."
By Cara Salpini • June 20, 2019 -
Barnes & Noble sales fall 4%
The retailer managed to stem the losses from last year through cost cuts, but sales still declined in its fourth quarter and for the full fiscal 2019.
By Ben Unglesbee • June 19, 2019 -
Debtwire: Charming Charlie hires financial adviser
The apparel and accessories retailer has been struggling with its balance sheet and a "liquidity crisis" since emerging from bankruptcy last year.
By Ben Unglesbee • June 19, 2019 -
Tapestry names Abercrombie & Fitch exec new CFO
Joanne Crevoiserat is a seasoned retail executive who also did stints at Kohl's, Walmart and May Department Stores.
By Daphne Howland • June 19, 2019 -
Amazon takes down Spark discovery platform
The retailer will encourage users to save items on #FoundItOnAmazon instead.
By Lisa Rowan • June 18, 2019 -
Walmart expands wireless experts to 3K stores
To make it easier for customers to upgrade their cellphones, the big-box retailer will add wireless experts to an additional 600 stores.
By Tatiana Walk-Morris • June 18, 2019 -
Moody's says department store closures to slow significantly
But thanks to the generally poor performance, the service now predicts operating income will decline by 10% in 2019, twice its original forecast.
By Cara Salpini • June 18, 2019 -
Best Buy launches home fitness products
Currently available online only, the products will be introduced through dedicated fitness spaces in over 100 stores by the end of 2019.
By Kaarin Moore • June 18, 2019 -
Walmart to lay off nearly 600 finance workers
The retail giant is outsourcing all finance and accounting work to global professional services firm Genpact, the company said.
By Daphne Howland • June 18, 2019 -
Target registers go down due to 'internal technology issue'
The retailer confirmed that the company did experience technical problems on both Saturday and Sunday, and emphasized that the issues were unrelated.
By Kaarin Moore • Updated June 17, 2019 -
Spring was cold to specialty retail
Unseasonable weather and looming tariff jumps knocked several companies off their game, but a few only have themselves to blame.
By Daphne Howland • June 17, 2019 -
May retail sales rebound
The U.S. Commerce Department also revised April's results upward, providing much relief at a time of tariff concerns.
By Daphne Howland • June 17, 2019 -
Academy Sports + Outdoors parent downgraded after debt buyback
S&P viewed the repurchases as a form of partial default, though getting its debt back at a discount could give the sports retailer some wiggle room.
By Ben Unglesbee • June 17, 2019 -
Deep Dive
Down the aisle: It's a new day for wedding apparel
One of the most disrupted retail markets today is one that Amazon has hardly touched.
By Daphne Howland • June 17, 2019 -
As 3rd-party sellers take over, Amazon's own market share loses 10 points
Jeff Bezos' recent disclosure of Marketplace's scale caused eMarketer to revise sales estimates, but the e-commerce giant still has much to gain.
By Daphne Howland • June 14, 2019 -
Lord & Taylor chief is out
President Vanessa LeFebvre announced her departure as executives at owner Hudson's Bay Co. said four more of its locations will shutter.
By Daphne Howland • June 14, 2019 -
How Pier 1, Rite Aid and other distressed retailers stacked up in Q1
We pulled key data from struggling industry players as they try to compete in retail's "survival of the fittest."
By Ben Unglesbee • Updated June 27, 2019
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