Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "Suzanne Kapner"


19 mentions found


Black Friday is back—even if many of the door-buster deals aren’t. Millions of Americans are expected to visit bricks-and-mortar stores on the Friday after Thanksgiving as the Covid-19 pandemic recedes and people return to prepandemic habits. That is a reversal of the past two years, when they were largely stuck at home and did more shopping online. This year, however, many household budgets are pinched by high gas and grocery prices.
Black Friday is back—even if many of the door-buster deals aren’t. Millions of Americans are expected to visit bricks-and-mortar stores on the Friday after Thanksgiving as the Covid-19 pandemic recedes and people return to prepandemic habits. That is a reversal of the past two years, when they were largely stuck at home and did more shopping online. This year, however, many household budgets are pinched by high gas and grocery prices.
Black Friday is back—even if many of the door-buster deals aren’t. Millions of Americans are expected to visit bricks-and-mortar stores on the Friday after Thanksgiving as the Covid-19 pandemic recedes and people return to prepandemic habits. That is a reversal of the past two years, when they were largely stuck at home and did more shopping online. This year, however, many household budgets are pinched by high gas and grocery prices.
Black Friday is back—even if many of the door-buster deals weren’t. Millions of Americans were expected to visit bricks-and-mortar stores on the Friday after Thanksgiving, as the Covid-19 pandemic recedes and people return to prepandemic habits. That is a reversal of the past two years, when they were largely stuck at home and did more shopping online. This year, however, many household budgets are pinched by high gas and grocery prices.
Bed Bath & Beyond Inc. is gearing up for what could be a make-or-break holiday season as the company struggles to keep its stores stocked and win back shoppers. More than 40% of the retailer’s products were out of stock in October, according to DataWeave Inc., an analytics company that tracked online availability of 150,000 items. That is nearly twice the level it was in the first half of the year, DataWeave said.
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/macys-m-q3-earnings-report-2023-11668688592
Retailers are dangling big sales well ahead of Black Friday, a reversal from the past two years when scarcity allowed stores to charge full price for many products, from sweaters to washing machines. The deep discounting, which started in October, could weigh on retail profits as chains enter the year-end shopping rush, analysts said. The pressure is particularly acute for apparel retailers, which have started to see prices fall after two years of gains.
Makers of Pricey Handbags, Clothing Warn of a Slowdown
  + stars: | 2022-11-10 | by ( Suzanne Kapner | ) www.wsj.com   time to read: 1 min
Shoppers continued to snap up expensive handbags and clothes from Michael Kors, Coach and Ralph Lauren in the recent quarter. But there were signs of a slowdown in the U.S. and China over a range of factors that include inflation, a strong dollar and China’s stringent Covid-19 policies. Michael Kors parent Capri Holdings Ltd. and Tapestry Inc., which owns Coach, lowered guidance for their current fiscal years.
Gap Starts Selling Its Apparel on Amazon
  + stars: | 2022-11-10 | by ( Suzanne Kapner | ) www.wsj.com   time to read: 1 min
Gap Inc. started selling some of its apparel on Amazon .com Inc., as the retailer looks to the e-commerce giant to revive sales of its flagship brand. Hundreds of jeans, sweaters, hoodies and other Gap items were available on Amazon.com/Gap for customers in North America. Shares of Gap jumped more than 8% by the closing bell on Thursday.
Kohl’s CEO Michelle Gass Resigns to Join Levi Strauss
  + stars: | 2022-11-08 | by ( Suzanne Kapner | ) www.wsj.com   time to read: 1 min
Michelle Gass, who took over as Kohl’s CEO in 2018, will step down next month. Kohl’s Corp. Chief Executive Michelle Gass is leaving the department-store chain early next month to join Levi Strauss & Co. with plans to have her take over as the jeans maker’s CEO. At Kohl’s, Ms. Gass has been under attack from activist investors for sales declines and a steep drop in the company’s stock price. In September, activist investor Ancora Holdings Inc., urged the company to replace Ms. Gass and its chairman. Kohl’s shares, down nearly 40% on the year, jumped 8% in early Tuesday trading.
Many shoppers are trading down to less expensive clothing and accessories—swapping Lululemon leggings for Uniqlo and expensive lingerie for Target bras and panties—as inflation eats into their disposable income and a rocky stock market erodes their wealth. The downshift raises concerns about the coming holiday season, historically a time when many people splurge on designer handbags, fine jewelry and other extravagant purchases for themselves or loved ones. Investors will get updates on shopping attitudes this week when Ralph Lauren Corp., Michael Kors parent Capri Holdings Ltd. and Tapestry Inc., the owner of Coach, report their latest results.
Gone are claims from the original 24-page complaint that Mr. Arnal and Mr. Cohen colluded to boost the company’s share price. Bed Bath & Beyond has said the lawsuit was without merit. Bed Bath & Beyond and Mr. Cohen, along with JP Morgan Securities LLC, are still named as defendants in the suit, which seeks class-action status. Bed Bath & Beyond shares traded around $4.05 on Wednesday, down more than 70% since the beginning of the year. Mr. Toll said he hadn’t heard from Bed Bath & Beyond or Mr. Arnal’s estate leading up to the filing of the amended complaint.
“There’s plenty of grief in his family, and us making it even worse didn’t seem worth it,” Mr. Toll said. Gone are claims from the original 24-page complaint that Mr. Arnal and Mr. Cohen colluded to boost the company’s share price. Bed Bath & Beyond and Mr. Cohen, along with JP Morgan Securities LLC, are still named as defendants in the suit, which seeks class-action status. Mr. Cohen unloaded his entire stake in Bed Bath & Beyond in mid-August. Bed Bath & Beyond shares traded around $4.05 on Wednesday, down more than 70% since the beginning of the year.
On her first day as permanent chief executive of Bed Bath & Beyond Sue Gove made a plea to suppliers of the struggling home goods retailer: Stick with us. The company hosted roughly 500 suppliers virtually and at its Union, N.J., headquarters for a two-hour summit in which executives laid out their strategy for resuscitating the chain, which has been reeling from a failed overhaul under prior management that led to plunging sales, a cash crisis and a leadership vacuum. In September, its finance chief died by suicide.
Nordstrom Inc.’s finance chief is stepping down as the retailer confronts industrywide pressures including soft consumer spending and high inventory levels. The Seattle-based retailer said Monday evening that Anne Bramman will leave the company effective Dec. 2 after more than five years as CFO. Nordstrom’s senior vice president and chief accounting officer, Michael Maher, will serve as interim finance chief. Nordstrom is looking for ways to reduce its inventory levels, Mr. Nordstrom said during an earnings call in late August. Merchandise inventory levels increased 9.9% from a year ago, to around $2.4 billion, although they were lower than the previous quarter.
Low-Price Apparel Chains Lure Inflation-Weary Shoppers
  + stars: | 2022-10-16 | by ( Suzanne Kapner | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/low-price-apparel-chains-lure-inflation-weary-shoppers-11665862828
Bed Bath & Beyond’s Losses Widen as Sales Drop 28%
  + stars: | 2022-09-29 | by ( Suzanne Kapner | ) www.wsj.com   time to read: 1 min
Bed Bath & Beyond reported another quarter of falling sales and widening losses, underscoring the challenges the home-goods retailer faces in turning itself around. Sales fell 28% to $1.44 billion for the three months ended Aug. 27, compared with $1.99 billion a year earlier. Same-store sales, which excludes newly opened or closed locations, declined 26%.
The largest shareholder of Nordstrom is the Nordstrom family, which owns about 30% of the Seattle company. Nordstrom adopted a so-called poison pill to prevent outsiders from boosting their stake in the business after a Mexican company acquired a 9.9% stake in the upscale U.S. retailer. A roughly $300 million investment made El Puerto de Liverpool SAB—which operates high-end department stores in Mexico—the second largest shareholder after the founding Nordstrom family, which owns about 30% of the Seattle company.
Gap Is Cutting 500 Corporate Jobs
  + stars: | 2022-09-20 | by ( Suzanne Kapner | ) www.wsj.com   time to read: 1 min
Gap has endured years of slumping sales at its flagship brand, and its job cuts follow corporate layoffs at other companies. Gap is eliminating about 500 corporate jobs, according to people familiar with the matter, moving to reduce expenses at the apparel retailer amid declining sales and profits. The jobs are mainly at Gap’s main offices in San Francisco and New York as well as in Asia, the people said. The company is laying off staff and eliminating positions that are currently open across a range of departments. Some employees have been notified of the layoffs in recent days, the people said.
Total: 19