Global Finance

SEPTEMBER 5, 2024

If the deal goes through—ACT submitted an offer to buy all outstanding shares of Seven & i last month—it will mark a significant step into Japan’s retail market by a foreign firm, but it wouldn’t be ACT’s first show of interest in the company or Japan. ACT made a previous offer for Seven & i in 2020.

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Restructuring Retail Finance Marketing 111

PYMNTS

FEBRUARY 7, 2020

The rise of eCommerce has been an inexorable one, and the retail landscape has shifted for retailers. The latest signs come from Macy’s , which in recent days announced a restructuring that will see the mall stalwart close 125 department stores and slash 2,000 jobs. Welcome, perhaps, to the mauling of the Great American Mall.

Retail 57

Retail Restructuring eCommerce Sales 57

PYMNTS

JULY 21, 2020

To bolster its financial status and let it better compete in a difficult retail climate, Tailored Brands plans to make changes that will lead to a reduction of roughly 20 percent of its corporate positions by the conclusion of fiscal Q2. and Canadian retail locations. The company, whose brands include Jos.

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Retail Restructuring Compliance Banking 52

CFO News Room

NOVEMBER 26, 2022

Bed Bath & Beyond (BBBY) – The housewares retailer is struggling to keep its stores stocked, according to a report in the Wall Street Journal. The paper cites analytics company DataWeave numbers showing more than 40% of the retailer’s products were out of stock in October. Manchester United Shares jumped 14.7% on Wednesday.

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Restructuring Banking Retail Sales 130

PYMNTS

MAY 7, 2020

And in retail, Nordstrom and Lord & Taylor are dampening the industry’s reopening plans. 60 cents: Earnings per share Disney reported for Q2 after adjusting for restructuring charges and other effects. The pandemic also hit other parts of the firm’s media empire, including its movie segment. All this, Today in Data.

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Retail Restructuring Numbers Planning 52

PYMNTS

JUNE 2, 2020

Another month of the pandemic and another first of the month when retail lease payments are due. As the crisis enters its fourth month, counting March, two new earnings reports indicate that about 60 percent of retailers are paying their rent — with a few very notable exceptions. percent of retail rent was collected, compared to 48.9

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Retail Restructuring Banking Numbers 52

CFO News Room

NOVEMBER 6, 2022

Carvana — The online used car retailer stock dropped more than 8% after the company reported disappointing third-quarter results on the top and bottom lines, according to consensus estimates from Refinitiv. PayPal reported earnings that surpassed profit and sales expectations. Discovery — The stock dipped 5% after Warner Bros. Source link.

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Restructuring Forecasting Advertising Communication 130

PYMNTS

NOVEMBER 4, 2020

In addition, Lloyds is reducing its headcount by another 730 positions as part of a significant restructuring effort. Workers in the group transformation and retail banking workforces will be primarily impacted by the reductions, which will reportedly bring about no additional bank closings.

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Retail Restructuring Banking Numbers 53

PYMNTS

SEPTEMBER 12, 2019

And additional retail bankruptcy filings are expected in the second half of the year, while brick-and-mortar stores will continue to close at a higher rate, according to a report by professional services firm BDO USA LLP. The reported noted that a subpar 2018 holiday season was a main factor, with December retail sales dropping 1.6

Retail 54

Retail Restructuring Sales Marketing 54

PYMNTS

MARCH 30, 2020

There’s $454 billion earmarked for retailers in the vast series of COVID-19 relief legislation passed last week. But none of it will arrive in time for the April rent and lease deadline staring retailers right in the bank account come Wednesday. And if it’s any consolation, retail rents will almost certainly drop in the short term.

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Retail Restructuring Healthcare Economics 52

PYMNTS

MAY 19, 2020

The results reversed a trend from last quarter, where the chain was one of many physical retailers facing a tepid holiday season that missed analyst expectations for sales, comparable-sales growth and earnings across the board. But things have reversed dramatically for the retailer amid the COVID-19 pandemic. percent to $134.6

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Retail Restructuring CFO eCommerce 88

PYMNTS

JULY 22, 2019

Retailers are feeling the heat from high rent costs. According to a report in The Wall Street Journal , while commercial retail rents are down, rent costs still remain higher than prerecession levels in many prime shopping areas, including Manhattan, Los Angeles and Dallas. The retailer fought the rent increase but lost.

Retail 43

Retail Restructuring Entertainment Numbers 43

CFO News Room

JANUARY 5, 2023

Signage outside a Bed Bath & Beyond retail store in New York, Aug. Bed Bath & Beyond — The home goods retailer plummeted 24% after reporting it’s running out of cash and is considering bankruptcy , citing weaker-than-expected sales. Gabby Jones | Bloomberg | Getty Images. The bank said it $3.8

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Restructuring Healthcare Sales Retail 130

CFO News Room

DECEMBER 9, 2022

These debtholders are joining together amid reports earlier this week that the company is looking to restructure its debt, the paper said. However, the retailer also said it expected business trends to deteriorate. after activist investor Dan Loeb boosted his stake in the retailer.

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Restructuring Forecasting Retail Economics 130

CFO News

FEBRUARY 20, 2023

In India, retail and wholesale prices of alcohol are controlled by states that account for over 65% of the overall market, making it difficult for companies to raise prices quickly.Companies said they are advocating both for immediate price increases as well as for a more fundamental restructuring of the way prices are handled for the industry.

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Restructuring Retail Accounting Marketing 52

PYMNTS

MARCH 2, 2020

s most high-profile retailers is doing well in the U.S. and another one is ready to open, both of them seeking a new market as their home turf sees retail struggles. s fastest growing brick-and-mortar retailer, Wren Kitchens. And also in training our retail staff to offer the customer a fantastic service.”.

Retail 52

Retail Marketing Restructuring Sales 52

PYMNTS

FEBRUARY 5, 2018

The retailer said it voluntarily filed for Chapter 11 bankruptcy protection in Delaware and is exploring a sale, Fortune reported. The retailer said in a filing last week that it might have to file for Chapter 11 if it could not reach a deal with creditors.

Retail 51

Retail Restructuring Sales eCommerce 51

PYMNTS

MAY 19, 2020

Amazon could be in talks to acquire the bankrupt clothing retailer JCPenney , Fox Business reported, citing Women’s Wear Daily (WWD). JCPenney officially filed for bankruptcy late Friday (May 15), ending speculation as to the beleaguered former retail titan’s financial status. Now, Amazon could be moving in. According to the U.S.

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Restructuring Retail eCommerce Securities 110

PYMNTS

APRIL 10, 2017

Changing eCommerce and technological shifts in the retail space are now impacting payrolls. ECommerce and technology have absolutely changed the rules of the game and given massive amounts of power to the consumer,” Simeon Siegel, retail analyst for Nomura, told the NYT. According to a new report from the U.S.

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eCommerce Retail Restructuring Economics 40

PYMNTS

MAY 31, 2017

Under the watch of the former head of the retail business, Carrie Tolstedt, employees created as many as 2.1 The San Francisco-based bank has since replaced Tolstedt with Mary Mack as head of the retail business and is now reassigning four executives to report directly to Mack.

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Restructuring Leadership Banking Retail 40

PYMNTS

JANUARY 24, 2020

Marijuana retail company MedMen is in the midst of a cash crunch in the industry, and it has been offering its vendors shares in the company in lieu of payment, according to a report Thursday (Jan. 23) by MarketWatch. . These are brands that heavily rely upon MedMen for their business.” .

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Restructuring Accounts Payable Retail Investments 54

PYMNTS

MARCH 9, 2017

For years, the retail industry has added more and more locations to help feed the hungry consumer, but the main issue now is whether this has backfired on retailers. One company speaking to this is clothing retailer Urban Outfitters. One company speaking to this is clothing retailer Urban Outfitters.

Retail 40

Retail Restructuring eCommerce Investments 40

PYMNTS

MAY 22, 2017

Automation has hit the manufacturing industry hard, costing the industry millions of factory jobs — yet it has the potential to hit retail even harder. million jobs over the next 10 years across retail and other sectors. That breaks down to 38 percent of the current 16 million-strong retail workforce.

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Retail Restructuring Education Manufacturing 44

PYMNTS

JUNE 20, 2017

There’s no question about it — today’s retail landscape is undergoing a digital revolution. With the online world enabling individuals to more easily start their own businesses, we’ve seen the likes of Etsy, Warby Parker and Dollar Shave Club come onto the retail scene. With Macy’s and Kohls’ shares down 20 percent alongside J.C.

Retail 54

Retail Restructuring Advertising eCommerce 54

PYMNTS

JULY 23, 2020

Ascena Retail Group, Inc. The retailer and “certain of its subsidiaries” have come to a restructuring support agreement (RSA) with more than 68 percent of secured term lenders, according to a Thursday (July 23) statement.

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Planning Restructuring Retail Forecasting 56

PYMNTS

MAY 12, 2017

Many retailers have been suffering over the past few years due to the increasing popularity of shopping online. With beauty bloggers, YouTube tutorials and Instagram coming into the mix, the entire beauty retail experience has been flipped on its head. With this new in-store shopping experience, many other retailers are following suit.

Retail 40

Retail Restructuring eCommerce Sales 40

PYMNTS

OCTOBER 21, 2016

Retailers that are unable to call on substantial financial reserves are struggling in the current environment. Mobile shopping is growing and a key focus of retailers going into the holiday season. Mobile shopping is growing and a key focus of retailers going into the holiday season. Along with Claire’s Stores Inc.,

Retail 55

Retail Marketing Profit and Loss Restructuring 55

PYMNTS

JUNE 5, 2020

JCPenney has identified the first round of 154 retail location closures, after an assessment of its store footprint and evaluation of “future strategic fit” as well as performance. The retailer said closing sales will commence at 154 stores following a court order entered at a U.S.

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Sales Restructuring Retail Securities 52

PYMNTS

SEPTEMBER 13, 2017

When the going gets tough, the tough restructure their retail operations in an attempt to better facilitate change. Consolidation is coming to Walmart starting today, when six retail business units will be contracted down to four, according to a recent news release. Well, they do if they’re Walmart anyway.

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Restructuring Leadership Communication Retail 55

PYMNTS

NOVEMBER 4, 2020

London-based Lloyd’s plans to cut roughly 730 additional jobs as part of its ongoing restructuring plan, which had been put on hold earlier this year due to the COVID-19 pandemic. The job cuts will be largely in its technology and retail operations. While the bank intends to create 300 new jobs, it will eliminate more than 1,000.

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Banking Restructuring Profit and Loss Planning 64

PYMNTS

JUNE 23, 2017

In the 1990’s, everyone talked about the Walmart effect on retail — the idea that the big box store was making every other kind of retail method obsolete. If I were a mid-sized retailer that was one more of the pack without an outstanding feature, I would be a little bit worried. They can’t make any big changes for a while.

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Retail Restructuring Planning 64

PYMNTS

JULY 2, 2020

Penney and home-goods retailer Pier 1, along with telecommunications company Frontier Communications. retail field, finally filed for Chapter 11 in May after several years going back and forth on whether it would happen. Penney, once a heavy hitter in the U.S. The company said it planned to keep soldiering on.

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Restructuring Retail Communication eCommerce 88

PYMNTS

DECEMBER 3, 2020

In July , Walmart cut its workforce by laying off hundreds in its logistics, real estate and retail location-planning divisions. “We The retailer confirmed the new round of layoffs to Footwear News on Wednesday (Dec. 2), adding it was part of a restructuring. The trade publication said that U.S.

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Restructuring eCommerce Retail Sales 76

PYMNTS

FEBRUARY 14, 2020

To recover following a lackluster display over the holidays, Modell’s Sporting Goods has brought on a series of advisers with the inclusion of a chief restructuring officer. The retail chain has encountered slumping sales and a competitive field from eCommerce, as well as big-box retailers, The Wall Street Journal reported.

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Sales Restructuring Retail Forecasting 52

PYMNTS

MARCH 1, 2019

looks to improve the channel mix of its eponymous brand and shutter specialty stores, the retailer beat analysts’ earnings estimates but fell short on top-line revenues for the fourth quarter of 2018. The retailer reported revenues of $4.62 He added that Old Navy is one of the quickest-growing apparel retailers in the U.S.,

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Retail Planning Restructuring Forecasting 46

PYMNTS

JUNE 5, 2020

The retailer, which employs 85,000 people, filed for Chapter 11 bankruptcy protection last month after the coronavirus forced it to shut its more than 800 stores, which followed years of weak sales. In mid-May, the struggling retailer disclosed that it paid $17 million in interest charges on a secured loan to avoid a default.

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Restructuring Retail Sales Planning 54

PYMNTS

OCTOBER 28, 2020

The big-box retailer, traditionally known for its mailed coupons that offered 15 or 20 percent discounts on bedding and other home accessories, will be stepping away from that touchstone. The effort is part of the retailer's restructuring plan.

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Restructuring Retail Economics Sales 79