Mall owners Simon Property and Brookfield Property Partners have reached an agreement in principle to acquire JC Penney out of bankruptcy proceedings in a deal valued at approximately $800 million, sources told the Wall Street Journal. The move will avoid a total liquidation and save...
Walmart has agreed to sell Shoes.com to CriticalPoint Capital, the Los Angeles based private investment firm and owner of JackRabbit and Olympia Sports, according to a report from Bloomberg. Walmart bought Shoes.com’s intellectual property for $9 million in 2017. It made Shoes.com the flagship domain for...
J.C. Penney’s discussions with potential acquirers of the company have hit a “stalemate” and the bankrupt retailer’s top lenders are considering making a “credit bid” to own the retailer as a stand-alone company. If the deal goes through, the lenders would own J.C. Penney, likely as...
Toms, the company that designs and markets shoes as well as eyewear, coffee, apparel, and handbags, based in Los Angeles, CA, generated a total of $2 million in support of COVID-19 front line workers. This follows its move in March to direct one-third of its...
In his first shareholder letter since taking over as Nike’s CEO and president in January, John Donahoe wrote that COVID-19 “offered a stress-test” of its Consumer Direct Offense strategy while stating “Nike’s underlying strengths and resilience have become even more evident in this crisis.” Donahoe wrote,...
Timberland announced a goal for its products to have a net positive impact on nature by 2030. The goal includes having all products designed for circularity and made from natural materials sourced from regenerative agriculture. “The environment today is in a degraded state. As a footwear...
Shoe Carnival Inc. reported record sales in the third quarter as same-store sales grew 12.6 percent and online sales more than tripled. Earnings were down slightly due to \higher shipping costs from elevated online sales and a shift to adult athletic sales which typically carry...
Nordstrom Inc., as expected, took it on the chin with fiscal second-quarter top-line results, but company management saw a silver lining to the dark clouds of the COVID-19 experience. Nordys saw the hit from the virus as an opportunity to accelerate strategic plans and to...
Foot Locker Inc. reported earnings rose 7.6 percent on an adjusted basis as same-store sales jumped 18.6 percent. Results were in line with a pre-announcement provided on August 10. Second Quarter Results Net income for the company’s second-quarter of 2020 was $45 million, or $0.43 per share,...
Susquehanna International Group said in a note Monday that proprietary checks confirm that Nike will be closing nine wholesale accounts: City Blue, VIM, EbLens, Belk, Dillard’s, Fred Meyer, Bob’s Stores, Boscov’s, and Zappos. In the note, Sam Poser, the lead analyst in the space for Susquehanna,...