American Eagle Outfitters Inc. plans to launch a beauty business before the upcoming holiday season, citing a big opportunity lying ahead for the company in this sector. The apparel retailer’s decision was announced by CEO Jay Schottenstein on Wednesday during an earnings call with analysts.
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Walmart said Thursday it will be expanding a new “unlimited” grocery delivery service, which costs users $98 annually, to 1,400 stores this fall. The biggest retailer in the world had earlier this year been testing what it calls Delivery Unlimited in four markets — Houston, Miami, Salt Lake City and Tampa.
A shareholder filed a class action against L Brands over what the lawsuit alleges were false and misleading statements by the company and its executives about the retailer’s financial situation, according to a complaint filed last month in an Ohio federal district court. Attorneys last week issued a press release inviting other plaintiffs to join […]
Teen retailer Forever 21 Inc. is preparing for a potential filing as its turnaround options fade, Bloomberg reported Wednesday, citing people with knowledge of the plans. According to Bloomberg, Forever 21 hired a team of advisers to help restructure its debt and has been in talks for additional financing, but negotiations with possible lenders have […]
After years of rolling out private-label brands in apparel and home goods, Target is starting a new grocery brand. Products from the new line Good & Gather will hit Target stores beginning Sept. 15. The retailer said that by the end of 2020, the brand will have more than 2,000 items — everything from organic […]
Shares of Target soared as much as 18% to a record high on Wednesday after the retailer reported second-quarter earnings that outperformed Wall Street forecasts. Here are the key numbers from Target’s second-quarter earnings: Revenue: $18.42 billion versus $18.25 billion expected by analysts. Earnings per share: $1.82 compared with $1.62 estimated by analysts. Profit: $1.32 […]
Groupon, the beleaguered daily deals website, has officially launched a rewards program to increase engagement and repeat purchase rates. For $4.99 per month, Groupon Select members receive an extra: Twenty-five percent off local deals, including activities, restaurants and spas; Fifteen percent off and free shipping off goods orders, such as consumer electronics, home furnishings and […]
Americans have gotten used to ordering huge quantities of products online and that has had a considerable impact on traditional bricks-and-mortar retailers, spelling doom for countless businesses from the local bookshop to malls that are struggling to compete with the e-commerce juggernaut.
Walmart’s stock jumped 6.5% on Thursday after the retailer reported second-quarter results that topped Wall Street forecasts. Here are the key numbers from Walmart’s results: Revenue: $130.4 billion, compared to $130.07 billion expected by analysts Earnings per share: $1.27, versus $1.22 expected by analysts Net income: $3.64 billion, compared to $3.51 billion estimated by analysts
Macy’s on Wednesday said that second quarter net sales fell to $5.55 billion from $5.57 billion in the year-ago quarter. Store comps on an owned plus licensed basis rose 0.3% after a 0.5% rise a year ago; on an owned basis only, comps, flat a year ago, rose 0.2%, according to a company press release.