Financial News: Page 92
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Gap Inc. sells off Janie and Jack after 2 years
Former Gap CEO Art Peck touted the 2019 acquisition as a great deal with a lot of growth potential, and that's how new owner Go Global sees it too.
By Daphne Howland • March 26, 2021 -
Permission granted by Athleta
Ex-Gap CEO Art Peck launches $200M SPAC
The timing may be awkward, as the Securities and Exchange Commission is reportedly scrutinizing the increasing use of shell corporations to go public.
By Daphne Howland • March 25, 2021 -
Retrieved from Piqsels.
Amazon tests book clubs
The virtual book clubs are currently in an "early access" stage where all customers with an Amazon account are able to join for free.
By Kaarin Moore • March 25, 2021 -
Fanatics hits $12.8B valuation after latest funding round
The sports merchandising retailer has added another $320 million from existing investors as it expands into new territory and product lines.
By Ben Unglesbee • March 25, 2021 -
Kendall Davis/Retail Dive
Podcast
The Backroom: How a $15 minimum wage could impact retail
At the federal level, the minimum wage hasn't changed since 2009 at $7.25 an hour. The team discusses what an increase could mean for the industry.
By Ben Unglesbee • March 25, 2021 -
Permission granted by Care/of
Wellness brand Care/of to drop new vitamin line at Target
The DTC brand's brick-and-mortar partnership will include three different multivitamins and five benefit-led blends.
By Maria Monteros • March 25, 2021 -
Courtesy of Tylko
DTC furniture startup Tylko raises $26M
The company uses AR tech to allow consumers to visualize products in their homes before making a purchase.
By Tatiana Walk-Morris • March 25, 2021 -
Cara Salpini/Retail Dive
GameStop lays out an 'anti-climactic' 2021 plan after highly anticipated Q4 report
Instead of a tech-focused revolution, analysts said the retailer laid out a pretty "normal" retail strategy following a shakeup by Chewy founder Ryan Cohen.
By Ben Unglesbee • March 24, 2021 -
Chico's hires chief digital officer
The retailer appointed Jay Topper to oversee the company's technology functions, supply chain as well as infrastructure and security.
By Tatiana Walk-Morris • March 24, 2021 -
andresr via Getty Images
Consumers set a high customer service bar, but not every brand can deliver
The customer may not always be right, but experts say there's a price to pay when brands don't take care of them.
By Maria Monteros • March 24, 2021 -
Courtesy of Stitch Fix
Second Amazon exec jumps to Stitch Fix
Sharon Chiarella will lead the product, design and technical teams and joins Chief Financial Officer Dan Jedda in making the same leap.
By Daphne Howland • March 23, 2021 -
"DXL Men's Apparel store located in Natick, MA." by JCarnellDXLG is licensed under CC BY-SA 4.0
Destination XL gets $17.5M lifeline
Listed by S&P as among the most vulnerable in retail, the men's apparel seller might have dodged bankruptcy with the capital infusion.
By Ben Unglesbee • Updated March 24, 2021 -
Courtesy of Bed Bath & Beyond
Bed Bath & Beyond kicks off private label rollout with Nestwell launch
Chief Merchandising Officer Joe Hartsig discusses the first of eight owned brands set to debut this year and how they fit into the retailer's turnaround plan.
By Caroline Jansen • March 22, 2021 -
Courtesy of Fabletics
Fabletics to open 24 new stores this year
The expansion, which will bring its footprint to 74 stores, is less ambitious than what was previously announced.
By Daphne Howland • March 22, 2021 -
The image by Michael Rivera is licensed under CC BY-SA 3.0
Shoe Carnival names new CEO
The footwear company's current chief customer officer, Mark Worden, will step into the role as part of a planned succession.
By Kaarin Moore • March 19, 2021 -
Store openings are outpacing closures in 2021: Coresight
So far, retailers collectively plan to open 3,344 stores, many of them dollar stores and other discounters.
By Ben Unglesbee • March 19, 2021 -
Courtesy of Nike
Despite port congestion and revenue declines at home, Nike posts a profit
The company is benefiting from its previous move to sell more directly to consumers, through stores and online, and that's paid off during the pandemic.
By Daphne Howland • March 19, 2021 -
Retrieved from Dollar General on October 08, 2020
Dollar General ramps up expansion of Popshelf concept
The discounter is eyeing 3,000 total locations for the new format, which targets higher income women in suburbs.
By Ben Unglesbee • March 19, 2021 -
Cara Salpini/Retail Dive
Les Wexner to exit L Brands board
The original plan when he stepped down as CEO last year was for the company founder and retail legend to remain as "chairman emeritus."
By Daphne Howland • March 18, 2021 -
Courtesy of Adidas
Adidas, Peloton team up on apparel line
The tie-up furthers Peloton's apparel sales and can only help Adidas, though the fairly small collection won't likely be a game-changer.
By Daphne Howland • March 18, 2021 -
Petco adds 1M customers in Q4
The pet retailer made its return to the public stock markets after a year of heightened demand in the category.
By Caroline Jansen • March 18, 2021 -
Five Below to expand higher-price concept to 30% of stores by year-end
The retailer plans to add up to 180 prototype stores that incorporate the Five Beyond concept.
By Ben Unglesbee • March 18, 2021 -
Wayfair names new chief marketer
Bob Sherwin will succeed Ed Macri, who served as chief marketing and product officer and has been with the online retailer for the past 14 years.
By Caroline Jansen • March 17, 2021 -
Courtesy of DSW
DSW parent eyes 65 store closures
Designer Brands is focusing its efforts on the crowded athleisure footwear market as it pulls back on its store count.
By Kaarin Moore • March 17, 2021 -
Tailored Brands CEO to step down
After Dinesh Lathi led the owner of Men's Wearhouse through bankruptcy, the company decided it was "the right time to re-evaluate the skills" of a CEO.
By Ben Unglesbee • March 17, 2021
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