Financial News

  • A store at a strip mall with a bright yellow and red storefront. A big red sign with white block letters on the left.
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    "Forman Mills on Aramingo" by Generic Brand Productions is licensed under CC BY-SA 2.0
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    Regional off-price retailer Forman Mills lays off nearly 300, closes stores as it mulls bankruptcy

    The 38-year-old company said it is working to sell itself and may have to file for Chapter 11 protection if it can't find a buyer.

    By • June 22, 2023
  • A gray and white Bed Bath & Beyond store.
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    Daphne Howland/Retail Dive
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    Overstock wins Bed Bath & Beyond IP at auction with $21.5M bid

    The bid gives Overstock ownership of Bed Bath & Beyond’s internet properties, social media, mobile platforms, business data, publicity rights and trademarks.

    By • June 22, 2023
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    RgStudio via Getty Images
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    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
  • The exterior of a Five Below store during the daytime with a blue sky
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    Courtesy of Five Below
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    Five Below poaches McDonald’s alum for CFO

    The extreme-budget retailer is reshuffling its C-suite, with Ken Bull’s promotion to COO and Kristy Chipman’s appointment to CFO.

    By Elizabeth Flood • June 20, 2023
  • On the brown tile floor of an indoor soccer pitch, a white scuffed up gear bag with the word PUMA sits behind a pair of blue and white soccer cleats. One cleat leans against a soccer ball.
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    Courtesy of Puma
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    Column

    The Weekly Closeout: Puma’s CEO overhauls marketing, Fanatics acquires Fexpro

    The athletics retailer underwent a reorg in its marketing division, while Fanatics bought the Latin America-based sports wholesaler. 

    By Retail Dive Staff • June 16, 2023
  • A light sage green baby high chair displayed next to a wood table with fruits
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    Permission granted by Lalo
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    Lalo raises $10.1M in Series A

    The baby and toddler brand plans to expand its footprint during the coming year both domestically and globally. 

    By • June 15, 2023
  • Three pink Gorgie energy drink cans displayed with a pink martini glass
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    Permission granted by Gorgie
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    Gorgie raises $6.5M in pre-seed funding

    The functional beverage brand, created by Lively founder Michelle Cordeiro Grant, turned to individual investors for the funds instead of established firms.

    By • June 14, 2023
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    Permission granted by Ten Thousand
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    Activewear brand Ten Thousand raises $21.5M

    The DTC men’s brand also announced it formed a three-year partnership with Life Time Athletic Country Clubs.

    By Howard Ruben • June 14, 2023
  • 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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    Overstock bids $21.5M for Bed Bath & Beyond’s intellectual property

    Competing bids for Bed Bath & Beyond, which is liquidating in Chapter 11, are due Friday.

    By • June 13, 2023
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    Nastasic via Getty Images
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    Adobe: Online prices fell 2.3% in May, the biggest drop since the pandemic began

    Overall inflation has slowed in recent months and grocery price hikes are easing, the research firm found.

    By Tatiana Walk-Morris • June 13, 2023
  • The entrance to a downtown mall, with people walking by.
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    Daphne Howland/Retail Dive
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    Westfield is handing over the keys to San Francisco Centre mall

    Following Nordstrom’s plan to exit, and as part of its own plans to reduce its U.S. holdings, Westfield will transfer the property to its lender.

    By • June 13, 2023
  • A pedestrian with a yellow bag walks by Nordstrom store windows decorated with red.
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    Daphne Howland/Retail Dive
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    New York City’s retail employment continues to lag

    Even hard-hit restaurants have bounced back faster, with areas dependent on tourists and office workers in the worst shape, according to a new report.

    By • June 12, 2023
  • External shot of an Ollie's.
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    The image by JJBers is licensed under CC BY 2.0
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    Ollie’s raises outlook, plans to open 45 new stores in 2023

    The closeout-oriented retailer said it may expand its mix of directly sourced merchandise as its store footprint grows. 

    By • June 12, 2023
  • A person slices a Meati Crispy Cutlet on a white cutting board that sits on a coral-colored counter.
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    Courtesy of Meati Foods
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    Derek Jeter invests in Meati Foods

    The Baseball Hall of Famer will also serve as an adviser to the mycelium meat alternative maker, which is working to expand its products to stores nationwide.

    By Megan Poinski • June 12, 2023
  • A Scotch & Soda storefront in New York City
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    Cara Salpini/Retail Dive
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    A look at DTC acquisitions in 2023 so far

    Despite overall M&A activity declining, DTC brands including Richer Poorer, Great Jones and Scotch & Soda have already found buyers this year.

    By • June 12, 2023
  • Exterior of a DSW store.
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    "DSW" by Mike Mozart is licensed under CC BY 2.0
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    Nike will return to DSW stores, website this fall

    The news comes just a week after Macy’s CEO Jeff Gennette announced the athletics brand would return to key locations in October.

    By • June 9, 2023
  • Several multi-colored candles are displayed from Otherland
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    Permission granted by Otherland
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    DTC candle brand Otherland acquired by Curio

    The luxury candle company joins Curio Brands' portfolio, which includes fragrance lines Capri Blue and Thymes.

    By • June 9, 2023
  • A group of Yeezy shoe products on a beige background.
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    Courtesy of Adidas
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    Column

    The Weekly Closeout: Yeezy sells despite controversy, Tamagotchi makes a comeback

    All 12 styles Adidas released sold out, Wedbush said. Meanwhile, the ’90s-era toy has a new metaverse play and a tie-up with TikTok star Charli D’Amelio.

    By Retail Dive Staff • June 9, 2023
  • the top corner of a Rent the Runway store is seen from outside on a sunny day.
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    Michael M. Santiago via Getty Images
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    Rent the Runway touts subscriber growth but faces challenges

    Leaders pointed to 7.6% active subscriber growth in a Q1 earnings call, but cautioned a slowdown next quarter.

    By Laurel Deppen • June 9, 2023
  • The Macy's logo is seen above a display of clothing for sale
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    Mario Tama via Getty Images
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    Macy’s remains committed to tech investments after sluggish quarter

    The company plans to invest up to $3 billion over the next three years, with a focus on digital projects.

    By Lindsey Wilkinson • June 9, 2023
  • Neiman Marcus store in Friendship Heights, Maryland
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    Daphne Howland/Retail Dive
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    Excess inventory at Neiman Marcus squeezes Q3 margins

    Some consumers showed wariness in the period, but the department store said its top customers, brands and stores continue to do well.

    By • June 8, 2023
  • Lit-up store windows show mannequins wearing apparel, including dresses on the left and jeans and a jacket on the right. The banner name "J.Jill" is above and to each side of the door.
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    Courtesy of J. Jill
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    J. Jill refinances long-term debt, plans new POS

    After warning of potential bankruptcy in 2020, the retailer is now focused on investments to enhance its omnichannel capabilities.

    By • June 8, 2023
  • A tan swatch of mycelium leather against a teal background.
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    Courtesy of Ecovative
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    Mycelium technology company Ecovative raises over $30M

    The company plans to increase production of its Forager line of hides and flexible foams ahead of new brand partner footwear and apparel launches.

    By Lara Ewen • June 8, 2023
  • Exterior sign for a GameStop store.
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    Daphne Howland/Retail Dive
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    GameStop CEO fired, Ryan Cohen appointed executive chairman

    Matt Furlong has served as chief executive since June 2021. Meanwhile, the company canceled its first-quarter earnings call on Wednesday.

    By • Updated June 8, 2023
  • Two girls jumping on a couch
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    Courtesy of Lovesac
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    Lovesac C-suite shifts while Q1 net sales increase

    The furniture brand’s CFO and chief strategy officers are retiring effective June 30 while the company looks to invest in tech for growth.

    By • June 7, 2023
  • Adidas employees gather around a screen that says "Feedback."
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    Courtesy of Adidas
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    Adidas offers student loan help for US employees

    The company is also offering free financial coaching, as 80% of employees say that student debt is stressing them out.

    By • June 7, 2023