Financial News: Page 8
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Daphne Howland/Retail Dive
Dick’s continues to dodge the rest of retail’s problems as comps jump 4%
Warm weather and price-conscious shoppers didn’t meaningfully dent the retailer’s performance — and tariffs won’t either, executives said.
By Cara Salpini • Nov. 26, 2024 -
Daphne Howland/Retail Dive
Macy’s delays full Q3 report over millions in fraudulent expense accounting
Starting in 2021 an employee hid $132 million to $154 million in delivery expenses, a disclosure overshadowing an otherwise decent quarter.
By Daphne Howland • Nov. 25, 2024 -
Daphne Howland/Retail Dive
Vuori doesn’t need money. Investors keep knocking anyway.
A recent $825 million fundraise from General Atlantic and Stripes tipped the brand into the $5 billion valuation range. Investor Jon Kossow says the company still doesn’t need the cash to fund its own operations.
By Cara Salpini • Nov. 25, 2024 -
Courtesy of Big Lots
Big Lots sold to private equity
An affiliate of Nexus Capital Management plans to acquire the retailer for $2.5 million in cash, debt payoff and some assumed liabilities.
By Nate Delesline III • Nov. 25, 2024 -
Courtesy of Olive & June
Olive & June to be acquired by Hydro Flask owner for $240M
Olive & June’s founder and CEO Sarah Gibson Tuttle will remain on the team as the nail care company joins Helen of Troy’s portfolio of brands.
By Caroline Jansen • Nov. 22, 2024 -
Courtesy of Gap Inc.
As Gap Inc. makes progress in Q3, all eyes are on the CEO
Richard Dickson has caught investors’ attention with a string of improvements across the portfolio since his arrival last year from Mattel.
By Daphne Howland • Nov. 22, 2024 -
Courtesy of Stitch Fix
ColumnThe Weekly Closeout: Stitch Fix adds stylist profiles, NRF and RILA respond to overtime rule block
The apparel box retailer is introducing customers to the brains behind its boxes while retail organizations express relief to a ruling on overtime pay.
By Retail Dive Staff • Nov. 22, 2024 -
Courtesy of The Container Store
Beyond’s $40M investment in The Container Store may be off
The Container Store’s failure to reach a satisfactory agreement with lenders puts their deal at risk, both retailers warned this week.
By Daphne Howland • Nov. 21, 2024 -
Courtesy of Amer Sports
Amer Sports revenue jumps 17% as it names new Salomon CEO
Salomon Chief Product Officer Guillaume Meyzenq will take on the position in January, as the company continues to benefit from Arc’teryx’s runaway growth.
By Nate Delesline III • Nov. 21, 2024 -
Nate Delesline III/Retail Dive
Target misses Q3 earnings expectations, lowers guidance
The retailer will focus on deals and value as consumers become pickier with discretionary purchases.
By Nate Delesline III • Nov. 20, 2024 -
Courtesy of Lowe's
Lowe’s prepping for ‘what may be coming from the administration’ on tariffs
The retailer said it diversified its supply chain after Trump’s first tariffs, but that 40% of its assortment is sourced abroad and more levies would add costs.
By Daphne Howland • Nov. 19, 2024 -
Kaarin Vembar/Retail Dive
Walmart raises guidance boosted by strong revenue, e-commerce growth
Store improvements, an accelerated digital presence and a growing advertising business is separating the retailer from its competitors, according to analysts.
By Nate Delesline III • Nov. 19, 2024 -
Ace Hardware revenue grows to record $2.3B in Q3
Operating expenses also rose nearly 13% in the quarter as the company invests in store openings, marketing and more ad spending.
By Nate Delesline III • Nov. 18, 2024 -
Daphne Howland/Retail Dive
Auction of struggling San Francisco Centre mall postponed
The property, previously anchored by a Nordstrom flagship that left last year and now more than $625 million in default, was set to be sold Thursday.
By Daphne Howland • Nov. 18, 2024 -
Daphne Howland/Retail Dive
ColumnThe Weekly Closeout: Target extends store hours for the holidays, Nuuly launches ‘The Thrift Shop’
The mass merchant will be open from 7 a.m. to midnight from Nov. 30 to Dec. 23, while the subscription company debuted a perk for discounted styles.
By Retail Dive Staff • Nov. 15, 2024 -
Drew Angerer/Getty Images via Getty Images
Tapestry and Capri terminate merger agreement
After losing a lawsuit against the FTC, both companies agreed to cancel the deal, calling the legal process “uncertain and unlikely to be resolved.”
By Laurel Deppen • Nov. 14, 2024 -
Courtesy of Dillard's
Dillard’s keeps the focus on expenses in Q3 as sales edge down
Compared to some rivals, the department store is less dependent on the holiday quarter when it comes to the year’s operating profits.
By Daphne Howland • Nov. 14, 2024 -
Ivan Pantic via Getty Images
US holiday retail sales to reach $1 trillion
About a quarter of those sales will occur online this year, a Forrester report predicts.
By Tatiana Walk-Morris • Nov. 14, 2024 -
Courtesy of Grove Collaborative
Grove doubles down on DTC, will ditch brick-and-mortar partnerships
The sustainability-focused consumer products brand said that selling through retail stores generated few sales and has been “consistently unprofitable.”
By Daphne Howland • Nov. 13, 2024 -
Nate Delesline III/Retail Dive
Hurricane prep, recovery help drive Q3 growth at Home Depot
The company is also benefiting from its acquisition earlier this year of SRS Distribution, which is on track to contribute $6.4 billion in sales for the fiscal year.
By Nate Delesline III • Nov. 12, 2024 -
Courtesy of On
On pulls back on wholesale as Q3 sales surge more than 32%
The Swiss footwear brand said that opening flagship stores in China will help take advantage of its momentum in Asia.
By Daphne Howland • Nov. 12, 2024 -
Courtesy of Vuori
With latest investment, Vuori’s valuation hits $5.5B
An $825 million infusion led by General Atlantic and Stripes will fortify the athleisure brand’s already formidable challenge to market leader Lululemon.
By Daphne Howland • Nov. 11, 2024 -
(Drew Angerer/Staff) via Getty Images
Beyond Meat posts positive growth for first time in almost 3 years
Despite quarterly sales volumes taking a hit, CEO Ethan Brown told analysts that the company’s price hikes are helping on its path to profitability.
By Elizabeth Flood • Nov. 11, 2024 -
Michael M. Santiago via Getty Images
Capri revenue falls sharply as hopes of a Tapestry merger dim
Jimmy Choo saw single-digit growth, while the company attributed second quarter declines at Versace and Michael Kors to soft luxury demand.
By Lara Ewen • Nov. 11, 2024 -
Chip Somodevilla/Getty Images via Getty Images
ColumnThe Weekly Closeout: E.l.f. Beauty enters Dollar General as retail preps for a new president
The beauty brand is looking to democratize its offerings, while retail trade groups and analysts sound the alarm on tariffs amid the election results.
By Retail Dive Staff • Nov. 8, 2024
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