Financial News: Page 2

  • Person in athletic gray shorts and tights holds a dumbell weight while looking at TV
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    Courtesy of Peloton
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    A Peloton subscriber will be its next CEO

    Ford Executive Peter Stern has also held leadership roles at Apple — where he was co-founder of Apple Fitness+ — and Time Warner Cable.

    By • Oct. 31, 2024
  • Stéphane de La Faverie, Estée Lauder CEO
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    Courtesy of Estée Lauder
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    Estée Lauder appoints CEO

    Stéphane de La Faverie has been with the beauty giant since 2011 and succeeds Fabrizio Freda, who announced his retirement earlier this year.

    By Howard Ruben • Oct. 31, 2024
  • A white storefront with a blue Container Store logo on it.
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    Courtesy of The Container Store
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    The Container Store could file bankruptcy if Beyond equity deal fails

    Despite facing several challenges, turnaround efforts are gaining momentum, CEO Satish Malhotra said.

    By • Oct. 30, 2024
  • A large, lit-up sportswear store at night.
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    Courtesy of Adidas
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    Adidas reaches settlement with Ye as Yeezy inventory dwindles

    The brand says it has momentum, though some analysts wonder what will follow the current hype around its legacy Terrace styles.

    By • Oct. 29, 2024
  • A Crocs storefront
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    "Crocs International Mall" by Phillip Pessar is licensed under CC BY 2.0
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    Crocs lowers outlook as Heydude continues to drag down revenues

    The company is working to build Heydude’s brand awareness and momentum through influencer partnerships after a 17% revenue drop in Q3.

    By • Oct. 29, 2024
  • A black flag that says "The Real Real" hangs off a building's dark trim.
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    Daphne Howland/Retail Dive
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    The RealReal CEO out after less than 2 years

    Rati Sahi Levesque, who helped found the company in 2011, has replaced John Koryl, who arrived in February last year and has now left the company.

    By • Oct. 28, 2024
  • A window display of a Coach store.
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    Michael M. Santiago via Getty Images
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    Tapestry and Capri merger blocked in win for FTC

    The owners of Coach and Michael Kors plan to appeal the decision, but experts say it’s unlikely the deal will go through.

    By Laurel Deppen • Oct. 25, 2024
  • A Tractor Supply storefront on a sunny day with a blue sky.
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    "Tractor Supply Company" by Mike Mozart is licensed under CC BY 2.0
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    Tractor Supply to acquire online pet pharmacy

    The move expands the retailer’s market opportunity. Meanwhile, new locations spurred Q3 sales, as store comps and net income declined.

    By • Oct. 25, 2024
  • skechers
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    Courtesy of Business Wire
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    Consumer demand, star ambassadors key to Skechers’ record Q3 growth

    The footwear company is trying to sustain its momentum by pushing deeper into its product offering for team-based sports.

    By • Oct. 25, 2024
  • Puffy clouds in a blue sky frame a storefront that says "Bed Bath & Beyond" in large dark letters.
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    Daphne Howland/Retail Dive
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    Beyond’s revenue falls nearly 17% in Q3

    The company said it wants to reduce fixed expenses by an annualized $65 million heading into 2025.

    By • Oct. 24, 2024
  • A Bed Bath & Beyond sign on a brick facade with clear blue sky
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    Nate Delesline III/Retail Dive
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    Beyond to lay off 20% of workforce

    Chief Product Officer Carlisha Robinson was terminated without cause Tuesday, according to a regulatory filing.

    By • Oct. 23, 2024
  • Tupperware bowl full of fruit on a table.
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    Courtesy of Tupperware
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    Lender group to buy Tupperware out of bankruptcy

    The lenders, which include Stonehill Capital Management Partners and Alden Global Capital, are offering $63.8 million in debt relief and about $23.5 million in cash.

    By • Oct. 23, 2024
  • People inside and outside a store.
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    Courtesy of REI Co-op
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    REI sticks to store expansion plans despite declines

    Amid layoffs, falling sales, widening losses and some turmoil at unionized locations, the outdoor retailer seeks a path to growth.

    By • Oct. 21, 2024
  • A gray and white Bed Bath & Beyond store.
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    Daphne Howland/Retail Dive
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    Bed Bath & Beyond stores to return with Kirkland’s partnership

    The companies will open neighborhood, small-format stores, and Beyond will invest $25 million in Kirkland's in a combined debt and equity transaction.

    By • Oct. 21, 2024
  • The exterior of H&M's pop-up in New York City's Nolita neighborhood. There are metallic silver mannequins in the window with a red background.
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    Courtesy of H&M
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    Column

    The Weekly Closeout: Foot Locker partners with the Chicago Bulls, H&M pops up in New York

    The footwear retailer’s deal includes a series of community events, in-store activations and more, while the apparel retailer’s pop-up store runs for two months.

    By Retail Dive Staff • Oct. 18, 2024
  • A series of beauty displays at an Ulta Beauty shop-in-shop inside of a Target.
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    Cara Salpini/Retail Dive
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    Ulta looks to open 200 stores over the next 3 years as it plots growth in a tough market

    Chief Financial Officer Paula Oyibo noted that this year and next “will be transitional years” as competition intensifies and category demand normalizes.

    By • Oct. 18, 2024
  • A white storefront with a blue Container Store logo on it.
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    Courtesy of The Container Store
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    Beyond to invest $40M in The Container Store

    As part of the deal, an assortment of Bed Bath & Beyond merchandise will be offered at The Container Store's brick-and-mortar locations.

    By • Oct. 16, 2024
  • People walking and biking on a street that is closed to automobile traffic.
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    "Holiday Shopping - Downtown Crossing" by Massachusetts Office Of Travel & Tourism is licensed under CC BY-ND 2.0
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    NRF expects holiday sales to rise as much as 3.5%, reaching at least $980B

    With an expansive economy and wages outpacing inflation — and despite ongoing consumer wariness — spending will set a record, the group said.

    By • Oct. 16, 2024
  • Kanye West stands in front of Adidas and Yeezy logo.
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    Jonathan Leibson via Getty Images
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    Adidas momentum continues with 7% sales growth

    Preliminary results for the third quarter also showed that, excluding Yeezy sales from this year and last, currency-neutral revenue surged 14%.

    By • Oct. 16, 2024
  • A living room with a person laying down on a tan sofa
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    Permission granted by Havenly
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    Havenly Brands acquires Burrow as it builds out its portfolio of home brands

    Havenly CEO Lee Mayer discusses the company’s fifth acquisition, its multibrand strategy and why she remains bullish on retail.

    By • Oct. 16, 2024
  • A True Value freight truck.
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    Permission granted by True Value
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    True Value files for Chapter 11

    The 75-year-old brand, whose stores are largely excluded from the bankruptcy, is seeking court approval to sell itself to rival Do it Best for $153 million.

    By • Oct. 15, 2024
  • A Walgreens drugstore with green awnings.
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    Daphne Howland/Retail Dive
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    Walgreens to close 1,200 stores

    The drugstore retailer’s plans reverse its expansion ambitions from a few years ago, when the company attempted to merge with rival Rite Aid.

    By • Oct. 15, 2024
  • 7-Eleven
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    Courtesy of 7-Eleven
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    7-Eleven shuttering over 400 North American stores amid strategic pivot

    The retailer also aims to generate $520 million through sale-leasebacks of an undisclosed number of stores as its parent company slashes its profit forecast and spins off noncore segments.

    By Brett Dworski • Oct. 11, 2024
  • Choice Market
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    Retrieved from Choice Market website.
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    Choice Market to cease operations

    The Denver-based retailer filed for Chapter 11 bankruptcy in May and intended to restructure. That plan fell through, CEO Mike Fogarty said.

    By Brett Dworski • Oct. 11, 2024
  • A white storefront with a blue Container Store logo on it.
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    Courtesy of The Container Store
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    The Container Store adopts poison pill

    The company announced a limited duration stockholder rights plan after a “rapid and significant” accumulation of stock by a single shareholder.

    By • Oct. 9, 2024