Ross Stores Promotes Adam Orvos to CFO
Orvos joined the retailer in January as group senior vice president of supply chain administration.
Claire’s Sees Gen Z Growth in IPO Pitch
The specialty retailer says it is "a category leader in the girl’s fashion jewelry and accessories market" and a "leading piercing destination."
Adidas Sells Reebok to Authentic Brands
Adidas restored Reebok to profitability but "was far less successful in building a brand that was able to capture the hearts and minds of consumers."
Aeropostale, Forever 21 Owner Authentic Brands Exploring IPO
Over the past several years, Authentic Brands has scooped up brands on the verge of bankruptcy.
Business Inventories Increase 0.5% in February
February’s gain in the GDP component, which was in line with economists’ expectations, followed a 0.4% advance in January.
Godiva to Exit All North America Stores
Demand for in-person chocolate shopping had “waned as a result of the pandemic and its acceleration of changes in consumers’ shopping behavior."
U.S. Retail Sales Fall for Third Consecutive Month
"The further slump in retail sales in December confirms that the continued surge in coronavirus infections is now weighing heavily on the economy."
Luckin Coffee Fined $180M in Accounting Fraud
The SEC says the Chinese retailer fabricated more than $300 million in coupon sales to present a false picture of rapid growth to investors.
Embattled Industries: Profiles in Resilience
Although the pandemic nearly crushed their industries, these companies are finding ways to thrive.
Walmart Offloads 85% Stake in Seiyu to KKR, Rakuten
KKR will acquire 65% of the Japanese retailer and Rakuten will take a 20% share through a newly-created subsidiary.
Costco Posts 11.4% Same-Store Sales Increase
The big-box retailer continued to benefit from shoppers stocking up on everything from food to patio furniture.