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After less than 6 months under Chapter 11, Saks Global is now "Exemplar Luxury Group," the mashup of Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman whose first year was pretty much just a steady march toward bankruptcy court. The company didn't just change its name -- here are at least 5 other things that got dumped, too. https://lnkd.in/g6n7C6eB
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IPO news‼️Real fans will know how much I appreciate a business that is actually profitable [net income positive], not just "adjusted EBITDA profitable" Reformation filed a registration statement for a proposed initial public offering Thursday, which means we now have a deeper look at the brand's financials: 📈 Net revenue of about $507 million and a net income of $12.6 million in 2025 💲 Positive net income from 2018 to 2025, except for 2020 due to the COVID-19 pandemic 🛒 About 90% of the brand’s net revenue comes from its direct-to-consumer channel, PLUS Reformation's well-known showroom store model & two-way wardrobes are actually patented Maybe DTC and sustainability-focused marketing aren't dead? For more: https://lnkd.in/e6U7bNsq
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I'm sure we can all relate to this situation, but GameStop has nixed CEO Ryan Cohen's performance award proposal (valued at about $35B) based on his own request to do so 💸 Instead, Cohen wants the retailer to be “fully focused on GameStop’s operating performance and its proposed eBay acquisition." More details on a renewed takeover bid are expected this week. The move also comes a week after a class action lawsuit was filed by a stockholder seeking to enjoin the vote at the annual meeting in July on a proposal to add 1.5 billion authorized shares. The complaint alleges the proposal was enacted after the board realized “that the charter amendment needed to make the pay package effective will not receive the requisite support." 👀 More details: https://lnkd.in/eGcXHjxF
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This move surprised me! Bath & Body Works is launching at Ulta. 🫧 https://lnkd.in/gH7Mmks8
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Kohl's has left open the chief operations officer post for three years, amid a lot of turnover up and down the C-suite. In September though Ulta / Foot Locker veteran Elliott Rodgers will take the job: https://lnkd.in/gUFaWPKu
Retail Dive reposted this
Remember the stylish, joyous collections from Isaac Mizrahi for Target in the early aughts? It was a collaboration that made so much sense and did so much for Target. The designer had a major role in shaping the retailer's influence around bringing high design to the masses. Target has floundered more recently. And the company's new leadership has decided it could once again use Mizrahi's help. Many thanks to Liza Amlani for her commentary this morning around what Mizrahi can do for Target this time around. https://lnkd.in/gQcMkZya
Retailers are rethinking the checkout experience. As AI shopping agents become more common and biometric authentication gains traction, payment technologies continue to evolve rapidly. Join us June 24 for a discussion with payments and retail leaders from PayPal, JPMorganChase, Klarna, U.S. Faster Payments Council, and more as we explore how retailers are deploying new payments technologies across physical and digital environments. Register for the free virtual event: https://lnkd.in/gE-nE82n
On June 24, join us for a free virtual event exploring how retailers are adapting to the ever-evolving payments landscape, from digital wallets to buy now, pay later services and emerging biometric solutions. What you'll learn: ➡️ How checkout has evolved with more ways to pay, from PayPal to Apple Pay to BNPL ➡️ What the growing reliance on buy now, pay later signals about consumers ➡️ C-store checkout innovation and what's actually working for operators ➡️ How biometrics are shaping checkout experiences and preventing fraud Featuring leaders from: PayPal, U.S. Faster Payments Council, Bolt, Klarna, Mashgin, Carnegie Mellon University, Socure, and JPMorganChase Register today: https://lnkd.in/gE-nE82n #Payments #BNPL #Fintech #RetailTech
The payments landscape in retail is undergoing a fundamental shift. From scan-and-go technology to mobile kiosks and biometric authentication, retailers have moved beyond the experimentation phase and are working to scale operations to best meet consumers' needs. Join Payments Dive, Retail Dive and C-Store Dive journalists on June 24 for a free virtual event where we'll explore how retailers are deploying new or improving payments technologies across physical and digital environments. Featured sessions: ✓ Checkout evolves with more ways to pay ✓ How BNPL is transforming the payments landscape ✓ C-Store checkout innovation: What's actually working? ✓ Biometrics shape checkout Featuring: Senior Director of Product at PayPal, Global Head of Product at JPMorganChase, Head of GTM Partnerships, North America at Klarna, CEO at U.S. Faster Payments Council, and more. Register for free: https://lnkd.in/gE-nE82n #Payments #BNPL #Fintech #RetailTech
Retail Dive reposted this
When's the last time you heard of Macy's as a taker of market share, rather than a giver? At the very least the department store is successfully protecting its share, analysts say. More on what happened there in Q1, and how the department store and sibling Bloomingdale's are working together. https://lnkd.in/g8Wf89ee