Financial News: Page 17
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Courtesy of Gap Inc.
Gap Inc. turns a corner as all brands notch gains in Q1
Under CEO Richard Dickson, who arrived last August, the apparel retailer is working to improve operational efficiencies as well as brand storytelling.
By Daphne Howland • May 31, 2024 -
Courtesy of Sierra
ColumnThe Weekly Closeout: Best Buy sales fall 6.5% and Sierra hits 100 stores
The electronics retailer continues to face pressure in its core segment, while T.J. Maxx’s outdoors-focused sibling eyes more growth ahead.
By Retail Dive Staff • May 31, 2024 -
Cara Salpini/Retail Dive
Ulta cuts guidance as it loses share in prestige beauty
The beauty retailer said 1,000 new points of distribution in the category have opened in the past two years, a possible nod to Kohl’s Sephora tie-up.
By Cara Salpini • May 31, 2024 -
Daphne Howland/Retail Dive
Nordstrom Rack continues to overshadow the department store in Q1
Both banners enjoyed sales increases, though margins were challenged by shrink caused by theft in its transportation network.
By Daphne Howland • May 31, 2024 -
Permission granted by Dollar General
Dollar General to eliminate ‘vast majority’ of self-checkout, reduce new store openings
Despite a 6% Q1 net sales rise and performance that beat analyst expectations, shrink remains a significant headwind, CEO says.
By Nate Delesline III • May 31, 2024 -
Justin Sullivan/Getty Images via Getty Images
Birkenstock logs record Q2 revenue increase of 22%
In its second earnings report since becoming a publicly traded company, the Germany-based footwear giant raised its outlook after gains in the quarter.
By Laurel Deppen • May 31, 2024 -
Courtesy of Foot Locker, Inc.
Foot Locker: ‘I think it’s fair to say Nike’s going back on offense’
The retailer, which saw sales fall nearly 3% in Q1, teased a return to growth with Nike later this year and expressed excitement about upcoming innovation.
By Cara Salpini • May 30, 2024 -
Daphne Howland/Retail Dive
Kohl’s touts progress in Q1 despite sales declines, loss
Aside from some merchandising improvements, the department store isn’t revamping its stores. Some analysts say that’s a mistake.
By Daphne Howland • May 30, 2024 -
Permission granted by Chewy
Chewy posts 3.1% sales gain in Q1, announces $500M share repurchase program
The online pet retailer boosted its profits during the quarter even as its active customer base continues to shrink.
By Caroline Jansen • May 29, 2024 -
Courtesy of Abercrombie & Fitch
Abercrombie & Fitch Co. sets a record with billion-dollar Q1
The retailer is considering more brand extensions as one way to maintain its momentum.
By Daphne Howland • May 29, 2024 -
Retrieved from Feat Clothing on May 29, 2024
Private equity firm acquires majority stake in Feat Clothing
Co-founder Taylor Offer will step down as CEO while the remainder of Feat Clothing’s team will stay in place.
By Howard Ruben • May 29, 2024 -
Daphne Howland/Retail Dive
Dick’s Sporting Goods is taking share ‘across the board’ as sales stay strong
As it expands House of Sport, openings of the experiential format at local malls are driving meaningful traffic growth to those shopping centers.
By Cara Salpini • May 29, 2024 -
Daphne Howland/Retail Dive
GameStop raises $933M from stock sale
The funds could go toward acquisitions or investments, which may be important as its core business shrinks.
By Nate Delesline III • May 28, 2024 -
Cara Salpini/Retail Dive
Margins balloon at Deckers as Hoka takes off
The running shoe line and sister brand Ugg lead a footwear portfolio that Wedbush calls “one of the fundamentally strongest names in our coverage.”
By Daphne Howland • May 28, 2024 -
Joe Raedle / Staff via Getty Images
Walmart and Capital One break up
The retail behemoth and its credit card issuer said in a terse, joint press release Friday that they’re parting ways.
By Lynne Marek • May 28, 2024 -
Courtesy of e.l.f. cosmetics
ColumnThe Weekly Closeout: E.l.f. Beauty reports $1B in net sales and Wayfair opens its first large-format store
The cosmetics brand increased sales 77% year over year, while the DTC furniture company debuted a store in Wilmette, Illinois.
By Retail Dive Staff • May 24, 2024 -
Pablo Cuadra/Getty Images via Getty Images
VF names new CFO, still feels revenue slump as it considers selling assets
The declining performance of the Vans brand continued to weigh on the apparel and footwear conglomerate’s Q4 earnings despite various transformation programs.
By Laurel Deppen • May 24, 2024 -
Permission granted by Peloton
Peloton refinances debt as financial challenges persist
The struggling fitness brand is issuing new notes to pay off debt with a closer maturity date, just weeks after losing its CEO and laying off employees.
By Suzette Parmley • May 23, 2024 -
Nate Delesline III/Retail Dive
Target Q1 sales drop 3%
The retailer is losing ground in grocery and household items as customers shop for less elsewhere, according to analysts.
By Nate Delesline III • May 22, 2024 -
Nate Delesline III/Retail Dive
Lowe’s beats expectations despite soft Q1
Net sales at the home improvement retailer fell over 4% in part because of a decline in big-ticket DIY spending.
By Nate Delesline III • May 21, 2024 -
Daphne Howland/Retail Dive
A glimpse into a future Macy’s
The department store has provided financial metrics for the fleet of stores that will survive a massive downsizing over the next three years.
By Daphne Howland • May 21, 2024 -
Vanni Bassetti/Getty Images via Getty Images
Coach scraps its copyright infringement lawsuit against Gap
The complaint, filed last month, focused on the use of the word “coach” on Old Navy T-shirts.
By Laurel Deppen • May 21, 2024 -
Daphne Howland/Retail Dive
Dick’s Sporting Goods employee connected to SEC insider trading charges
A data analytics employee communicated nonpublic information about the company to Frank Poerio, who was charged with insider trading that netted over $800,000.
By Kaarin Moore • May 20, 2024 -
Courtesy of Canada Goose
Canada Goose yanks long-term targets, names creative director
The brand has slowed its store expansion and paused its five-year plan to focus on “doing fewer things really, really well,” CEO Dani Reiss said Thursday.
By Daphne Howland • May 17, 2024 -
Daphne Howland/Retail Dive
GameStop expects Q1 revenue drop
The company is also looking to sell up to 45 million shares in an attempt to cash in again on its meme stock status.
By Nate Delesline III • May 17, 2024
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