Financial News: Page 2


  • A Bed Bath & Beyond label scar is seen on a beige storefront with a blue sky.
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    Nate Delesline III/Retail Dive
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    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 May 13, 2024
  • The interior entrance to a JC Penney mall store, with fronds of a plant in the foreground.
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    Daphne Howland/Retail Dive
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    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 May 10, 2024
  • Trendline

    The direct-to-consumer landscape in retail

    More mature brands are pursuing exit strategies and expanding their reach, while traditional retailers are increasingly shifting to a DTC model.

    By Retail Dive staff
  • Korn wearing the Korn Adidas collection.
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    Courtesy of Adidas
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    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 storefront of Sam Ash Music in Manhattan in New York City
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    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
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    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 May 10, 2024
  • Two mannequins are seen on display in a Sweaty Betty store window.
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    Ben Pruchnie/Getty Images via Getty Images
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    Wolverine World Wide names new CFO, reports 34% revenue decline

    Despite the revenue dip, the Merrell owner said results were better than expected as it continues its restructuring plan.

    By Laurel Deppen • May 10, 2024
  • A person walks across a stage holding a red balloon and wearing a trench coat.
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    Arturo Holmes via Getty Images
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    Tapestry Q3 sales down as smaller brands continue to struggle

    Against the backdrop of an FTC lawsuit, Coach sales were flat, and Kate Spade and Stuart Weitzman continued to decline.

    By Lara Ewen • May 10, 2024
  • Reflections of buildings on a Warby Parker store window, dominated by white and blue.
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    Daphne Howland/Retail Dive
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    Warby Parker narrows losses in Q1 as it posts 16.3% revenue growth

    The brand is continuing to build out its footprint, opening eight stores in the first quarter and planning 40 net new stores by the end of the year.

    By May 9, 2024
  • Exterior of an Allbirds store in Washington, D.C.'s Georgetown neighborhood
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    Caroline Jansen/Retail Dive
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    Allbirds revenue plummets 28% in Q1 as CEO says the brand is ‘executing with urgency’

    Joe Vernachio said the retailer shuttered three stores in the quarter and is on track with its planned closures, which will amount to 10 to 15 this year.

    By May 9, 2024
  • Oddity launches beauty brand SpoiledChild.
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    Courtesy of SpoiledChild
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    Oddity posts ‘record’ revenue growth in Q1, raises full-year outlook

    The company said that Il Makiage and SpoiledChild are on track to become billion-dollar brands. 

    By Howard Ruben • May 9, 2024
  • A bright-red mall entrance to a clothing store.
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    Daphne Howland/Retail Dive
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    Simon Property Group would put up no capital to buy Express

    That price could explain why the mall REIT is willing to jump back into ownership of retail tenants after scaling back over the past several months.

    By May 9, 2024
  • Exterior of a Foxtrot store in Washington, D.C.
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    Kaarin Vembar/Retail Dive
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    Foxtrot’s assets to be sold this week

    Friday’s foreclosure sale will include “substantially all of the assets” of the c-store retailer, including inventory, intellectual property, documents and more.

    By Brett Dworski • May 8, 2024
  • In a screenshot, two people demonstrate a kitchen stand mixer during a QVC segment
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    Courtesy of Qurate Retail Inc.
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    Qurate Retail Group swings to a net loss as revenue falls 11% in Q1

    The company's U.S. QVC and HSN unit saw sales decrease 4% during the period, citing declines in home and apparel. 

    By May 8, 2024
  • A hand holds a bundle of herbs above a fiery double-decker grill with Meati Steaks and Cutlets with grill marks on the bottom left, asparagus on the bottom right, and a frying pan of stir fry and corn
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    Courtesy of Meati Foods
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    Meati bucks trend and gets $100M funding boost

    While the alternative meat sector has been struggling to raise funds, the Boulder-based company is on its way to becoming a household name.

    By Elizabeth Flood • May 8, 2024
  • Person wearing HeyDude shoes stands on the grass.
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    Courtesy of HeyDude X Foot Locker
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    Heydude still a drag on Crocs in Q1

    Former Ulta exec Susan Healey has been appointed chief financial officer, replacing Anne Mehlman, now Crocs brand chief.

    By May 7, 2024
  • Two people walk by a Bed Bath & Beyond store on a cloudy day.
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    Daphne Howland/Retail Dive
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    Beyond Inc. focuses on brand differentiation as losses widen in Q1

    The company is expected to relaunch Zulily in Q3 as it looks to build out sister brands Bed Bath & Beyond and Overstock.

    By May 7, 2024
  • OLAPLEX DUPES THE DUPERS ON TIKTOK WITH OLADUPÉ, WHICH WAS REVEALED AS ITS BLOCKBUSTER NO. 3 HAIR PERFECTOR
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    Courtesy of Olaplex
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    Olaplex reports Q1 sales declines across all channels

    The hair care company’s overall sales fell 13.1%, with its DTC segment down almost 16%, while net income dropped 63% compared to last year. 

    By Howard Ruben • May 3, 2024
  • Poppi, soda
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    Courtesy of Poppi
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    Healthy soda brand Poppi denies being M&A target of large beverage companies

    The drink, introduced in March 2020, is posting triple-digit growth as it benefits from surging consumer interest in better-for-you offerings.

    By Christopher Doering • May 3, 2024
  • Exterior of Wayfair's headquarters in Boston
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    Caroline Jansen/Retail Dive
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    Wayfair net sales fall 1.6% in Q1

    Despite challenges across the home goods category, executives remained optimistic that demand will return.

    By May 3, 2024
  • Column

    The Weekly Closeout: Boscia plans to shutter website and L’Occitane takes steps to go private

    The clean skin care brand said it will close its website on May 31, while the beauty brand’s chairperson, Reinold Geiger, launched a buyout bid.

    By Retail Dive Staff • May 3, 2024
  • Peloton CEO Barry McCarthy in a blue vest and glasses.
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    Kevin Dietsch / Staff via Getty Images
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    Peloton lays off 15% of global workforce as CEO Barry McCarthy exits

    The staff reductions impact about 400 employees and come as the fitness company faces declining sales and members.

    By May 2, 2024
  • A large cardboard box sits on a welcome mat on the front porch of a house.
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    Courtesy of Amazon
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    Amazon services outpace retail growth in Q1

    The e-commerce giant’s third-party services, advertising, subscriptions and cloud unit generated double-digit revenue increases in the period.

    By May 1, 2024
  • A person and mannequins stand inside a store, seen through the store window.
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    Daphne Howland/Retail Dive
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    Royalty fees squeeze Vince margins

    The company is targeting more than $30 million in savings in part to offset the new cost of licensing its own brand from Authentic Brands Group.

    By April 30, 2024
  • A person is seen looking at a wall of Skechers shoes in a store.
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    Photo by Spencer Platt/Getty Images via Getty Images
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    Skechers logs record Q1 sales amid wholesale revival

    The company expects revenue to increase by up to 11% for the fiscal year, which an analyst called “a pleasant surprise.”

    By Laurel Deppen • April 29, 2024
  • A Mented Cosmetics palette
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    Courtesy of Mented
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    West Lane Capital Partners acquires Mented Cosmetics

    West Lane has been building out its portfolio of beauty brands, recently acquiring Seven hair care earlier this month.

    By Howard Ruben • April 26, 2024
  • Joann store.
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    Courtesy of Joann
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    Joann to exit bankruptcy ‘in the coming days’ as reorganization plan gets court OK

    The craft retailer expects to cut $505 million in debt and emerge from bankruptcy as a privately held company.

    By April 26, 2024