Financial News: Page 16
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Daphne Howland/Retail Dive
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 Daphne Howland • June 24, 2024 -
Courtesy of Big Lots
ColumnThe 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 -
Courtesy of Care/of
Care/of is shutting down
The vitamin and supplement company said it no longer has the needed funding to operate and has canceled all existing subscriptions.
By Caroline Jansen • June 17, 2024 -
Courtesy of Bark, Inc.
ColumnThe Weekly Closeout: GameStop raises $2B and Bark Air has a ruff start
The meme stock frenzy continues to be kind to the gaming retailer, while Bark’s new airline effort faced a lawsuit within its first month of operation.
By Retail Dive Staff • June 14, 2024 -
Daphne Howland/Retail Dive
Torrid moves toward 50-50 mall split as sales fall 5%
CEO Lisa Harper said that while 65% of the apparel retailer’s stores are currently inside malls, shoppers are increasingly going off-mall.
By Nate Delesline III • June 14, 2024 -
Courtesy of Lego
Adults account for more toy sales than preschoolers: report
Nearly half of shoppers over the age of 18 purchased a toy for themselves in the past year, according to a report by Circana.
By Kaarin Moore • June 13, 2024 -
Daphne Howland/Retail Dive
Ryan Cohen dodges Bed Bath & Beyond shareholder lawsuit
Claims that the activist investor collected “short-swing” profits, leaving shareholders holding the bag, are moot, a judge ruled Tuesday.
By Daphne Howland • June 12, 2024 -
Nate Delesline III/Retail Dive
Five Below wants employees to handle 75% of checkouts
Despite Q1 performance that missed expectations, the company still sees a path to more than double its store count by 2030.
By Nate Delesline III • June 11, 2024 -
Courtesy of Garnet Hill
Qurate faces Nasdaq delisting
The struggling company, which runs home shopping networks QVC and HSN and a small brand portfolio, has until Dec. 9 to regain share price compliance.
By Daphne Howland • June 11, 2024 -
Courtesy of HanesBrands
HanesBrands sells Champion to Authentic Brands Group
The proceeds of the $1.2 billion sale will be used to pay down debt.
By Laurel Deppen • June 10, 2024 -
Shutterstock/bbernard
Sponsored by TeleperformanceThe role of strategic partnership management and rebadging in transformation and enhanced CX
The retail industry saw a drop in new global in-house centers last year. See why strategic business process services partnerships may be more appealing, and how to use them to unlock long-term value.
By Mike Lytle, North America CEO, Teleperformance • June 10, 2024 -
Daphne Howland/Retail Dive
GameStop Q1 sales drop 29% as it issues new stock offering
The video game-focused retailer plans to capitalize again on meme stock interest by selling 75 million more shares.
By Nate Delesline III • June 7, 2024 -
Courtesy of Claire's, Hello Kitty
ColumnThe Weekly Closeout: Kirkland’s explores strategic alternatives as Claire’s celebrates Hello Kitty
The home retailer is also instituting a cost-savings plan as sales fell 5% in Q1. Meanwhile, the tween brand is honoring the iconic character’s 50th anniversary.
By Retail Dive Staff • June 7, 2024 -
Courtesy of Big Lots
Big Lots may be making more turnaround progress than it seems
Despite double digit sales declines and rising debt levels, one analyst says the bad consumer backdrop is masking its improvements.
By Nate Delesline III • June 6, 2024 -
Kaarin Vembar/Retail Dive
Lululemon CEO says it missed opportunities in the women’s business in Q1
A narrow color palette and insufficient inventory in smaller sizes contributed to slower growth in the U.S., though overall revenue was still up 10%.
By Cara Salpini • June 6, 2024 -
Courtesy of Victoria's Secret & Co.
Victoria’s Secret beat expectations in Q1, but is it enough?
Its namesake and Pink brands have held onto some 20% market share in intimates, though its beauty business is its best-performing category.
By Daphne Howland • June 6, 2024 -
Designer Brands acquires Canadian footwear retailer Rubino
The retailer also named a new chief marketing officer for its largest banner, DSW, as it reported flat sales for Q1.
By Nate Delesline III • June 5, 2024 -
Brett Dworski/Retail Dive
6 Foxtrot stores leased to Further Point Enterprises
The holding company that acquired the non-real-estate assets from 15 Foxtrot locations last month is now the official tenant for half a dozen of its locations.
By Brett Dworski • June 5, 2024 -
Courtesy of Stitch Fix
Amid ongoing declines, Stitch Fix pilots customer experience improvements for summer launch
A core group of customers is keeping and spending more per box, suggesting that the company is on the right track, analysts said.
By Daphne Howland • June 5, 2024 -
Kaarin Vembar/Retail Dive
Dollar Tree to explore spinoff or sale of Family Dollar
The underperforming banner has been a drag on operations since its acquisition.
By Nate Delesline III • June 5, 2024 -
Permission granted by Liquid Death
Liquid Death names former PepsiCo, Keurig Dr Pepper exec as CFO
The fast-growing startup, known for its canned water, has entered new beverage categories while adding experienced executives to its C-suite.
By Christopher Doering • June 5, 2024 -
Courtesy of Bath & Body Works
New products boost Bath & Body Works in Q1 as candle sales decline
With steeper competition, the retailer is losing market share, including in one of its signature product lines, according to GlobalData research.
By Daphne Howland • June 4, 2024 -
Cara Salpini/Retail Dive
After abruptly shuttering its stores, Outdoor Voices has a new owner
Consortium Brand Partners, which also owns Draper James, plans to open new stores next year and expand into adjacent product categories.
By Cara Salpini • June 4, 2024 -
Joe Raedle via Getty Images
Costco’s CFO calls $1.50 hot dog ‘safe’ in debut earnings call
The retailer’s new finance chief, Gary Millerchip, is staying the course on the company’s popular $1.50 hot dog and soda combo pricing.
By Maura Webber Sadovi • June 4, 2024 -
Children’s Place CEO Jane Elfers out after 14 years
Muhammad Umair, who joined as a board member in February when Mithaq Capital bought a majority stake in the company, will serve as interim chief.
By Nate Delesline III • June 3, 2024
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