Financial News: Page 18
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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 -
Permission granted by Dollar General
ColumnThe Weekly Closeout: Dollar General taps store operations exec as PetSmart searches for a chief toy tester
Lee DeVille will lead operations for three of the discounter’s retail divisions. But the pet retailer’s new role requires a furrier candidate.
By Retail Dive Staff • May 17, 2024 -
Permission granted by On
Footwear brand On posts record quarterly sales with strong DTC growth
The company has plans to open a second store in Paris and is hoping to have a “notable impact’’ at the Summer Olympics that begin in July.
By Suzette Parmley • May 16, 2024 -
Courtesy of Walmart
Walmart beats expectations in Q1 as revenue surpasses $160B
The company's e-commerce sales rose 21%, driven by store-fulfilled pickup and delivery and strength within its marketplace.
By Nate Delesline III • May 16, 2024 -
Daphne Howland/Retail Dive
Under Armour plans layoffs, 25% SKU reduction
With founder Kevin Plank back at the helm, the retailer is overhauling its product strategy. The brand will cut back on promotions, reprioritize men’s and invest in innovation.
By Cara Salpini • May 16, 2024 -
Courtesy of Dillard's
Dillard’s beats expectations in tough Q1
CEO William Dillard said the department store focused on profitable sales as “the consumer environment remained challenging.”
By Daphne Howland • May 16, 2024 -
Daphne Howland/Retail Dive
Deep DiveMacy’s and J.C. Penney have two very different real estate strategies
One has a downsizing plan that includes profitable stores. The other plans to keep — and possibly open — even low-volume stores. What’s going on?
By Daphne Howland • May 16, 2024 -
Retrieved from Foxtrot website.
Foxtrot files for bankruptcy
The decision to file for Chapter 7 was made during a meeting with Outfox’s board of directors late last month.
By Brett Dworski • May 16, 2024 -
Courtesy of J. Jill
J. Jill pays $60M toward debt, announces quarterly dividend program
The retailer said in a preliminary earnings statement that it expects net sales of $160 million for the first quarter.
By Nate Delesline III • May 15, 2024 -
Permission granted by Purple
Purple Innovation posted 33.1% growth in wholesale, while DTC stayed flat in Q1
The sleep brand is targeting five areas of improvement as softness in the home furnishings industry persists.
By Suzette Parmley • May 14, 2024 -
Permission granted by Home Depot
Home Depot sales fall in Q1 on soft housing market
The company is continuing to lean in on capturing more market share with professional customers.
By Nate Delesline III • May 14, 2024 -
Courtesy of The Container Store
The Container Store faces delisting as Q4 sales plunge
The retailer continues to struggle, especially with general merchandise. But margins expanded and losses narrowed for the quarter and full year.
By Daphne Howland • May 14, 2024 -
Courtesy of Beyond Meat
Beyond Meat CEO sees 2024 as a ‘pivotal year’ despite grim Q1 results
The plant-based pioneer had its eighth straight quarter of revenue declines and is raising prices as it seeks to recapture margins.
By Elizabeth Flood • May 14, 2024 -
Brett Dworski/Retail Dive
Foxtrot’s assets sold for $2.2M in what one attendee called a ‘completely ramrodded’ auction
The virtual sale on Friday seemed to leave people with more questions than answers after organizer JPMorgan Chase didn’t describe the lot for sale and only entertained one bid.
By Brett Dworski • May 14, 2024 -
Paul Butterfield via Getty Images
Funko names former Hasbro executive CEO
Cynthia Williams was most recently president of the Wizards of the Coast and joins the company during a time of C-suite change.
By Kaarin Moore • May 13, 2024 -
GDMatt66 via Getty Images
S&P Global revises Staples outlook to stable
But the firm warns that a slow return to the office may worsen declining paper and printer sales and that printing won’t return to pre-pandemic levels.
By Nate Delesline III • May 13, 2024 -
Nate Delesline III/Retail Dive
Former Bed Bath & Beyond sues Hudson Bay investors for $300M
The lawsuit states that the hedge fund reaped a short-swing profit weeks before the retailer's bankruptcy. Hudson Bay disputes the claims.
By Nate Delesline III • May 13, 2024 -
Daphne Howland/Retail Dive
J.C. Penney remains profitable, could open new stores
Holiday and full-year sales fell, and net income plunged. But the CEO of one of the retailer’s owners says its ongoing profitability could merit an expansion.
By Daphne Howland • May 10, 2024 -
Courtesy of Adidas
The Weekly Closeout: Joann exits bankruptcy while Adidas teams with Korn
The craft retailer has $153 million in new financing as it goes private and the athletic giant released a follow up to last year's partnership.
By Retail Dive Staff • May 10, 2024 -
The image by By Kazuhisa OTSUBO from Tokyo, Japan CC BY 2.0, https://commons.wikimedia.org/w/index.php?curid=69411735 is licensed under CC BY 2.0
Music retailer Sam Ash files for Chapter 11 bankruptcy
The retailer is evaluating a potential sale of its e-commerce operations, related intellectual property and wholesale business.
By Nate Delesline III • May 10, 2024
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