[ad_1] Dr. Martens is a brand of footwear known for its yellow stitching and patented air-cushioned soles. The brand was adopted by British punk rockers in the 1970s, but went mainstream during the grunge movement of the 1990s. drmartens.com Shares of Dr. Martens plunged 30% on Tuesday to hit a …
Read More »Tag Archives: Retail industry
Peloton quietly drops unlimited free app membership because it failed to bring in paid subscribers
[ad_1] A stationary bicycle inside of a Peloton store is pictured in the Manhattan borough of New York City, U.S., January 25, 2022. Carlo Allegri | Reuters Peloton has quietly removed its unlimited free-membership tier on its fitness app less than a year after it debuted because the initiative was …
Read More »Off-price retail is poised to keep taking market share. Why is TJX’s stock stuck?
[ad_1] Off-price is not going off-trend anytime soon. That might not be clear based on recent trading in TJX Companies’ stock. Club holding TJX Companies and rival Ross Stores are well-positioned to keep stealing market share from other retailers, particularly department stores, UBS said in a recent note, keeping a …
Read More »Macy’s proxy fight is over, but the battle for the department store’s future wages on
[ad_1] Shopping bags in front of the Macy’s Inc. flagship store in the Herald Square area of New York, US, on Monday, Nov. 13, 2023. US holiday sales will grow at a slower pace this year amid economic headwinds such as higher interest rates, the National Retail Federation said. Bing …
Read More »Nike CEO says focus on its own website and stores went too far as it embraces wholesale retailers again
[ad_1] Illuminated trademark of the American athletic footwear and apparel corporation Nike, Inc. seen on the Nike Store window in Antwerp, Belgium. (Photo by Karol Serewis/SOPA Images/LightRocket via Getty Images) Karol Serewis | Lightrocket | Getty Images Nike CEO John Donahoe acknowledged Friday that the company moved too far away …
Read More »Nike CEO blames remote work for innovation slowdown, saying it’s hard to build disruptive products on Zoom
[ad_1] Nike President and CEO John Donahoe. Source: Nike Nike CEO John Donahoe on Friday blamed remote work for the company falling behind on innovation, saying that it’s tough to be disruptive when people are working from home. In an interview with CNBC’s Sara Eisen from Paris, Donahoe was asked …
Read More »Ohtani translator accused of stealing $16 million from Dodgers star
[ad_1] Shohei Ohtani’s former translator Ippei Mizuhara allegedly stole more than $16 million from the Los Angeles Dodgers star to cover millions of dollars of gambling debts, the U.S. attorney’s office announced Thursday. The office, which filed a criminal complaint against Mizuhara on Thursday, also said Ohtani had no knowledge …
Read More »Macy’s settles proxy fight with activist Arkhouse, adds two of the firm’s nominees as directors
[ad_1] Macy’s flagship store in Herald Square in New York, Dec. 23, 2021. Scott Mlyn | CNBC Macy’s on Wednesday said it settled its proxy fight with real estate investor Arkhouse, appointing two of the firm’s nominees to its 15-person board. Ric Clark and Rick Markee will join Macy’s board …
Read More »Department stores face another squeeze. This time, with store credit card revenue
[ad_1] A customer uses a credit card to pay for items January 28, 2022 at a retail shop in New York City. Robert Nickelsberg | Getty Images Department stores like Macy’s and Kohl’s have long used store-branded credit cards to drive purchases and get a cut of cash. Starting this …
Read More »3G Capital quietly exited its Kraft Heinz investment last year
[ad_1] Brazilian private equity firm 3G Capital quietly sold off its 16.1% stake in Kraft Heinz in the fourth quarter, nearly nine years after masterminding the blockbuster merger of Kraft Foods and Heinz with Warren Buffett. The sale marks the end of an era for 3G. The firm’s influence over …
Read More »