Financial News: Page 2

  • A cardboard box with a round light-blue logo and the words "Stitch Fix" leans against a bright yellow door.
    Image attribution tooltip
    Courtesy of Stitch Fix
    Image attribution tooltip

    Stitch Fix mulls exiting the UK amid ongoing sales declines

    The apparel box e-retailer, focused on profits and expense cuts, is closing two warehouses. But analysts wonder when revenues will rebound.

    By • June 7, 2023
  • Joann store.
    Image attribution tooltip
    Courtesy of Joann
    Image attribution tooltip

    Joann looks to private labels to help cut costs, boost sales

    Falling freight expenses are also getting the sewing and crafts retailer closer to its $200 million savings goal, announced earlier this year.

    By • June 6, 2023
  • An online shopper is sitting outside on the street and is ordering something on her mobile phone with a credit card in hand. Explore the Trendline➔
    Image attribution tooltip
    RgStudio via Getty Images
    Image attribution tooltip
    Trendline

    Retail Dive's DTC outlook for 2023

    A look at DTC trends and predictions for what direct-to-consumer brands can expect in the year ahead.

    By Retail Dive staff
  • Great Jones Dutch Baby Enameled Cast Iron Round Dutch Oven.
    Image attribution tooltip
    Courtesy of Great Jones
    Image attribution tooltip

    Great Jones sold to maker of KitchenAid, Farberware

    Under Meyer, the DTC cookware brand’s co-founder and CEO, Sierra Tishgart, will continue to lead the brand.

    By • June 6, 2023
  • The exterior of a Five Below store during the daytime with a blue sky
    Image attribution tooltip
    Courtesy of Five Below
    Image attribution tooltip

    Five Below sales up nearly 14% as it scoops up Tuesday Morning leases

    The retailer is also on track to convert 400 stores to its higher-priced Five Beyond format before the end of the year.

    By • June 5, 2023
  • Person using lab equipment.
    Image attribution tooltip
    Courtesy of Debut, L'Oreal
    Image attribution tooltip

    L’Oréal’s VC firm invests in biotech company Debut

    The $34 million series B funding round was led by the beauty giant in order to bring novel bioactive cosmetic ingredients and products to consumers. 

    By Tatiana Walk-Morris • June 5, 2023
  • Image attribution tooltip
    BarkBox
    Image attribution tooltip

    Bark’s Q4 revenue takes a hit as order volume falls

    By channel, the BarkBox and Super Chewer parent company saw DTC revenue fall 1.5% year over year, while wholesale revenue fell 9.3%.

    By Howard Ruben • June 5, 2023
  • A white brick Lululemon storefront in WIlliamsburg, Virginia
    Image attribution tooltip
    Dani James/Retail Dive
    Image attribution tooltip

    Lululemon rides 60% international growth to $2B quarter

    Greater China in particular grew 79%, and the region will account for the majority of international store openings planned for the year.

    By • June 2, 2023
  • A black store banner reads "Victoria's Secret."
    Image attribution tooltip
    Daphne Howland/Retail Dive
    Image attribution tooltip

    Victoria’s Secret prepares to relaunch Pink following challenging Q1

    Sales in North America were “more promotional than planned,” according to CEO Martin Waters. 

    By • June 2, 2023
  • A Dr. Martens storefront on Abbot Kinney Boulevard in California.
    Image attribution tooltip
    Cara Salpini/Retail Dive
    Image attribution tooltip

    Dr. Martens reaches revenue milestone while sales in the Americas disappoint

    The footwear company attributed its struggle in the region to a poor transition of distribution centers and its marketing campaigns.

    By • June 2, 2023
  • A Dollar General storefront at nighttime featuring the company's signature yellow and black sign
    Image attribution tooltip
    Courtesy of Dollar General
    Image attribution tooltip

    Dollar General cuts guidance, shareholders OK safety audit

    The retailer also plans to slow the opening pace of its PopShelf stores this year. 

    By • June 1, 2023
  • Four birch trees to left of a light brick wall with a red star and a "Macy's" sign, with a small row of bushes in snow.
    Image attribution tooltip
    Daphne Howland/Retail Dive
    Image attribution tooltip

    Macy’s slashes outlook after weak Q1

    The department store has fared worse this year than it expected, and is bracing for customers to continue to pull back in coming months.

    By • June 1, 2023
  • External shot of a Williams Sonoma store.
    Image attribution tooltip
    Spencer Platt via Getty Images
    Image attribution tooltip

    Higher shipping costs keep biting into Williams-Sonoma’s earnings

    The retailer has shipped from out-of-market distribution centers and made multiple deliveries for multi-unit products in order to reach customers quicker.

    By Max Garland • June 1, 2023
  • Nordstrom New York
    Image attribution tooltip
    Daphne Howland/Retail Dive
    Image attribution tooltip

    Nordstrom gains steam in Q1, especially in off-price

    After a soft start to the quarter, sales gained momentum in April, thanks in large part to merchandise improvements at Rack, executives said Wednesday. 

    By • June 1, 2023
  • 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
    Image attribution tooltip
    Courtesy of Meati Foods
    Image attribution tooltip

    VC funding for food and beverage plunging amid challenging environment, data shows

    Over the last four quarters, the amount raised and the number of deals have fallen significantly compared to the prior year, according to PitchBook.

    By Christopher Doering • May 31, 2023
  • A hand holds a yellow paint roller on top of a tray with light blue paint
    Image attribution tooltip
    Courtesy of Clare
    Image attribution tooltip

    DTC paint brand Clare to raise prices

    The cost of a gallon of paint will increase by an average of 8% as the company faces “outsized inflation,” CEO Nicole Gibbons said in an email to customers.

    By • May 31, 2023
  • A Hoka storefront in Los Angeles
    Image attribution tooltip
    Cara Salpini/Retail Dive
    Image attribution tooltip

    Hoka to hit $2B in sales as DTC channel grows

    The athletic footwear brand reported its fourth consecutive year of revenue growth above 50%, according to Deckers CEO Dave Powers.

    By • May 30, 2023
  • Big Lots to remain open on Thanksgiving.
    Image attribution tooltip
    Courtesy of Big Lots
    Image attribution tooltip

    Big Lots reports ‘disappointing’ quarter, plans store leasebacks

    The retailer will also close four distribution centers and imposed a dividend suspension. 

    By • May 30, 2023
  • Dollar Tree storefront.
    Image attribution tooltip
    Flickr; Mike Mozart
    Image attribution tooltip
    Column

    The Weekly Closeout: Dollar Tree margins pressured by inflation, Tuesday Morning IP up for sale

    The dollar chain is seeing a pullback on discretionary purchases, while Hilco Streambank seeks a buyer for the discount home retailer’s assets.

    By Retail Dive Staff • May 26, 2023
  • A sign that reads "try love buy" in front of a range of beauty displays at an Ulta Beauty shop-in-shop inside of a Target.
    Image attribution tooltip
    Cara Salpini/Retail Dive
    Image attribution tooltip

    Ulta to put fragrance behind locked cabinets in 70% of stores thanks to increased theft

    The beauty retailer, with Q1 sales growth topping 12%, said it’s investing in security guards and police presence in parking lots to deter crime.

    By • May 26, 2023
  • A building with a pitched roof and "Athleta" in big block letters is seen at a slant from below.
    Image attribution tooltip
    Daphne Howland/Retail Dive
    Image attribution tooltip

    Gap Inc. losses shrink in Q1 as sales continue to slide

    Major cost cuts, including the elimination of some 2,300 jobs in recent months, are helping stabilize the bottom line.

    By • May 26, 2023
  • A dark blue van with the word "Geek" in large white letters is parked in a lot.
    Image attribution tooltip
    Daphne Howland/Retail Dive
    Image attribution tooltip

    Best Buy CEO: ‘2023 will be the bottom’ for falling electronics sales

    Profits and revenue declined in Q1, driven by falling computer, appliance, home theater and mobile phone sales, executives said Thursday.

    By • May 25, 2023
  • Image attribution tooltip
    Kendall Davis/Retail Dive
    Image attribution tooltip
    Podcast

    The Backroom: How the consumer is doing so far this year

    Discretionary goods are a low priority amid an uncertain economy and a desire to spend on experiences, but retailers are holding their own. What about the rest of 2023?

    By Retail Dive Staff • May 25, 2023
  • A Sephora at Kohl's location
    Image attribution tooltip
    Courtesy of Kohl's
    Image attribution tooltip

    Citing progress in Q1, Kohl’s will open new stores, avoid closures

    The department store is working on its turnaround this year, leaning heavily on its Sephora partnership to drive sales and traffic.

    By • May 24, 2023
  • The entrance to a store with the word "Express" repeated above each glass door.
    Image attribution tooltip
    Daphne Howland/Retail Dive
    Image attribution tooltip

    Express closes on Bonobos acquisition as sales fall 15%

    The apparel retailer has hired advisers to help it cut costs as losses pile up.

    By • May 24, 2023
  • External shot of a Dick's Sporting Goods store.
    Image attribution tooltip
    Daphne Howland/Retail Dive
    Image attribution tooltip

    Dick’s plans 9 House of Sport stores in 2023 as sales rise 5.3%

    Unlike Foot Locker, the sporting goods retailer said its consumer is holding up well as it reaffirmed its full-year outlook.

    By • May 24, 2023