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FINANCE

  • Stage Stores to acquire bankrupt department store chain — but not all of it

    Gordmans is being rescued from liquidation — at least, part of it.    Stage Stores won a bid to acquire about half of Gordmans’ stores. The Omaha, Nebraska-based department store chain filed for Chapter 11 on March 13.    The retailer’s bid edged out Jeff Gordman, the former CEO of Gordmans, who also made a play to revive the bankrupt 106-store department store chain.   

  • VF Corp. introduces 2021 growth plan

    VF Corp.'s new strategy is focused on maintaining the company's longevity — even in a rapidly changing marketplace.

  • Fast-fashion chain plans operational changes following disappointing quarter

    Excess inventory and markdowns took their toll on H&M’s first fiscal quarter.   For the period spanning December 1, 2016 - February 28, 2017, H&M’s first-quarter pretax profit fell 3.6% to 3.21 billion kronor ($362 million), compared with an average estimate of 3.03 billion kronor. H&M blamed the decline on lower than expected sales growth, as well as higher mark-downs.  

  • Extreme value retailer continues to expand

    Ollie’s Bargain Outlet Holdings Inc. is on track for store growth in 2017.   The retailer, which beat the Street in the fourth quarter, ended the year with a total of 234 stores in 19 states, an increase of 15.3% year over year. It expects to open 33 to 35 stores in 2017, with no planned closures.   Ollie’s reported fiscal fourth-quarter net income increased 52% to $24.4 million, surpassing Wall Street expectations.   

  • Luxe home furnishings retailer Q4 tops Street

    Things are looking up at RH (formerly known as Restoration Hardware) which capped a busy year with better-than-expected results for its fourth quarter.    RH reported that revenue fell 9% to $586.7 million in the fourth quarter, beating analysts’ estimates.    

  • Furniture retailer adopts poison pill

    Rent-A-Center Inc. has taken action to reduce the likelihood that an investor gains unsolicited control of the company.   The nation's largest rent-to-own operator has adopted a stockholder rights plan, or a so-called poison pill, that would become exercisable if a group buys 15% or more of its outstanding shares.  

  • Report: Amazon to buy Middle Eastern online retailer

    A new deal could give Amazon a foothold in the Middle East.   Amazon has agreed in principle to buy Souq.com, a leader in the Middle East's online shopping market, according to a report in Reuters.   

  • Sportswear retailer has a ‘disappointing finish’ in Q4, fiscal year

    A combination of sluggish mall traffic, a shaky sporting goods industry, and poorly performing merchandise took a toll on The Finish Line in the fourth quarter and fiscal 2016.  
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