Gap Blunts Covid Impact With E-Commerce Surge
"We nearly doubled our e-commerce business, with approximately 50% online penetration, demonstrating our ability to pivot to a digitally-led culture."
Men’s Wearhouse Owner Files for Bankruptcy
Tailored Brands is the latest of more than 20 private and public retailers to have declared bankruptcy this year.
Shopping Shifts Squeeze Target Profit in Q1
The retailer's sales jumped 11.3% but margins were pressured as consumers switched to e-commerce amid the coronavirus crisis.
Ascena Retail to Close All Dressbarn Stores
"The decision was difficult, but necessary, as the Dressbarn chain has not been operating at an acceptable level of profitability."
Nike Shares Fall 4% Despite Q3 Earnings Beat
The company reported weaker-than-expected revenue growth in North America but online sales topped $1 billion for the first time.
Gap to Spin off Old Navy, Keep Specialty Brands
"It’s clear that Old Navy’s business model and customers have increasingly diverged from our specialty brands over time."
Gap’s Namesake Brand Weighs on Comp Sales
The retailer plans to focus on the "healthy core" of Gap specialty stores while exiting "those that do not fit the future vision quickly.”
Perry Ellis Ends Takeover Talks With Randa
The apparent demise of Randa's $460 million proposal clears the way for Perry Ellis to be taken private by founder George Feldenkreis.
VF to Drop Denim Brands in Spinoff Move
The decision to spin off Wrangler and Lee into a separate company reflects VF's strategy of focusing on active-lifestyle brands such as The North Face.
Overseas Sales Fuel Under Armour Q2 Beat
"We are making progress toward our transformation of running a more operationally excellent company while amplifying the power of the Under Armour brand."
Under Armour Woes Drag Down Dick’s Sales
The sporting goods retailer attributes the 2% drop in Q4 same-store sales to "significant weakness in the Under Armour brand."