Financial News: Page 2
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Permission granted by Shoe Carnival
The big switch: Why Shoe Carnival is flipping some of its stores into Shoe Stations
In a few test locations, stores that were rebannered as Shoe Stations performed “exceptionally well,” according to CEO Mark Worden.
By Kaarin Vembar • Sept. 11, 2024 -
Permission granted by Backcountry
Backcountry acquired by CSC Generation Enterprise
The outdoor gear retailer will continue to operate under its own name and recently moved to expand into wholesale.
By Nate Delesline III • Sept. 10, 2024 -
Cara Salpini/Retail Dive
Under Armour to close California distribution center amid restructuring plan
The decision to exit one of its primary distribution facilities will cost the athletics retailer an additional $70 million in restructuring charges.
By Cara Salpini • Sept. 10, 2024 -
"Lumber Liquidators store, 2321 Ellsworth Road, Ypsilanti Township, Michigan." by Dwight Burdette is licensed under CC BY 3.0
Private equity firm sweeps up LL Flooring, which will stay in business after all
The bankrupt home improvement company, previously Lumber Liquidators, has inked a deal to be acquired by F9 Investments, its largest shareholder.
By Daphne Howland • Sept. 9, 2024 -
Nate Delesline III/Retail Dive
Big Lots files for Chapter 11 bankruptcy
The bargain-focused retailer said Nexus Capital Management has offered a $620 million stalking horse bid.
By Nate Delesline III • Sept. 9, 2024 -
"Lumber Liquidators store, 2321 Ellsworth Road, Ypsilanti Township, Michigan." by Dwight Burdette is licensed under CC BY 3.0
LL Flooring to liquidate, close all stores after no buyer found
"This is not the outcome that any of us had hoped for," CEO Charles Tyson said in messages to customers and vendors.
By Nate Delesline III • Sept. 6, 2024 -
Kaarin Vembar / Retail Dive/Retail Dive
ColumnThe Weekly Closeout: Under Armour hires (another) Adidas vet and Bluemercury turns 25
The athletics retailer appointed a new leader in its Europe, the Middle East and Africa division, while the beauty company refreshed its online presence.
By Retail Dive Staff • Sept. 6, 2024 -
Nate Delesline/Retail Dive
Dollar Tree delivers weak Q2, cuts full-year guidance
Family Dollar customers are leaving for other stores like Walmart, according to analysts, as the banner shrinks its footprint.
By Nate Delesline III • Sept. 4, 2024 -
Daphne Howland/Retail Dive
While others falter, Dick’s stays strong with 8% sales growth
CEO Lauren Hobart said the retailer continues to thrive thanks to long-term investments in product assortment, customer experience and stores.
By Cara Salpini • Sept. 4, 2024 -
Courtesy of L Brands
Bath & Body Works’ semi-annual sale ‘fell short of our expectations’
As a result, the company is evaluating its approach to the event, including the timing, marketing and messaging.
By Kaarin Vembar • Sept. 4, 2024 -
Michael M. Santiago via Getty Images
Walgreens sued by shareholder amid plummeting stock price
The company’s top directors — including CEO Tim Wentworth and CFO Manmohan Mahajan — allegedly breached their fiduciary duty by inflating Walgreens’ performance projections.
By Rebecca Pifer • Sept. 4, 2024 -
Caroline Jansen/Retail Dive
Allbirds plans reverse stock split to regain Nasdaq compliance
The once-DTC darling was warned of a possible delisting in April and has until the end of the month to regain compliance.
By Cara Salpini • Sept. 3, 2024 -
Daphne Howland/Retail Dive
Off-price retailers poised to take even more market share from department stores
TJX, Ross and Burlington all enjoyed higher sales and profits in the second quarter.
By Daphne Howland • Sept. 3, 2024 -
Permission granted by Dollar General
Dollar General sees ‘cash-strapped consumer,’ cuts guidance
The company said its core base of lower-income shoppers had less to spend, as it reported top-line results that were below expectations for Q2.
By Nate Delesline III • Aug. 30, 2024 -
Kaarin Vembar/Retail Dive
Ulta slashes guidance again on flat sales and declining comps
Usually a high performer, the beauty retailer is losing share and struggling with the impacts of Sephora’s broad expansion at Kohl’s.
By Cara Salpini • Aug. 30, 2024 -
Courtesy of Abercrombie & Fitch
ColumnThe Weekly Closeout: Pacsun names CFO, Abercrombie posts ‘record’ Q2 net sales
The teen retailer hired BowFlex, Inc. veteran Aina Konold, while the apparel company saw sales increase 21% year over year to $1.1 billion.
By Retail Dive Staff • Aug. 30, 2024 -
Permission granted by Gap
Gap Inc. CEO: ‘We’re running a fundamentally stronger business’
The retailer gained share in Q2, with Old Navy and namesake Gap making strides. Can the momentum continue?
By Daphne Howland • Aug. 30, 2024 -
Daphne Howland/Retail Dive
A slowing women’s business is hurting Lululemon’s growth
While CEO Calvin McDonald said the Breezethrough leggings debacle had a “negligible impact” on its sales, the brand continues to suffer from other merchandise misses.
By Cara Salpini • Aug. 30, 2024 -
Daphne Howland/Retail Dive
Best Buy revenue falls 3% in Q2
The electronics retailer is updating in-store merchandising across multiple categories as it increasingly competes with big-box rivals for market share.
By Nate Delesline III • Aug. 30, 2024 -
Daphne Howland/Retail Dive
Is Victoria’s Secret finally on the upswing?
Ahead of welcoming a new CEO, the intimates giant bumped up its expectations for the year and the third quarter, when its Fashion Show returns.
By Daphne Howland • Aug. 29, 2024 -
Daphne Howland/Retail Dive
Kohl’s CEO ‘disappointed’ with 4.2% sales drop in Q2
As the retailer nears having a Sephora in every store and 200 Babies R Us openings, there's still “work to do” to improve apparel and footwear sales, the executive said.
By Nate Delesline III • Aug. 29, 2024 -
Courtesy of Foot Locker
Foot Locker to exit several international markets, move headquarters to Florida
Yet another cost-cutting and simplification effort will see the retailer exit South Korea, Denmark, Norway and Sweden by mid-2025, and switch its New York City base for one in St. Petersburg, Florida.
By Cara Salpini • Aug. 28, 2024 -
Daphne Howland/Retail Dive
Anniversary Sale, Rack propel Nordstrom’s Q2 sales
Strong regular-price sales also helped boost margins, but the retailer raised its guidance only slightly.
By Daphne Howland • Aug. 28, 2024 -
Caroline Jansen/Retail Dive
What lies ahead for Bonobos under new ownership
The DTC darling has changed hands several times over the past decade. Does that matter?
By Caroline Jansen • Aug. 28, 2024 -
Courtesy of Big Lots
Big Lots offers $5.2M in retention bonuses to 4 executives
The move could signal a potential bankruptcy on the horizon, according to Debtwire's global head of legal and restructuring.
By Nate Delesline III • Aug. 27, 2024
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