Overstock.com CEO Jonathan Johnson, June 29, 2023.Scott Mlyn | CNBCThe new Bed Bath & Beyond announced Monday its CEO Jonathan Johnson is immediately stepping down from his position in a sudden and surprising move. Johnson had been Overstock's chief executive since 2019. He led the company through its acquisition of...
A Peloton Bike inside a showroom in New York, US, on Wednesday, Nov. 1, 2023. Peloton Interactive Inc. is scheduled to release earnings figures on November 2.Michael Nagle | Bloomberg | Getty ImagesShares of Peloton plunged about 8% in premarket trading Thursday after the company reported a wider-than-expected quarterly...
E.l.f. Beauty raised its full-year outlook for the second quarter in a row on Wednesday after posting another 76% year-over-year sales jump, beating Wall Street's expectations. The cosmetics company, known for its viral TikTok marketing and middle-of-the-road pricing, also saw profits nearly triple compared with the year-ago period. Shares jumped about...
Wayfair IPO on the floor of the New York Stock Exchange.Lucas Jackson | ReutersWayfair is inching closer to profitability, but its third-quarter results still fell short of revenue expectations as the home market continues to be under pressure. Here's how the online furniture retailer did during the period compared with...
American sportswear fashion brand Champion store seen in Hong Kong.Chukrut Budrul | SOPA Images | Sipa via AP ImagesBrand management firms WHP Global and Authentic Brands Group are both interested in buying Champion from its parent company Hanesbrands, which is considering offloading the sportswear line amid pressure from activist...
Clothes displayed at the Shein Group Ltd. headquarters in Singapore, on Monday, June 19, 2023. Ore Huiying | Bloomberg | Getty ImagesShein has bought British fast fashion brand Missguided from the Frasers Group as the company looks to expand its market share and global reach ahead of a rumored U.S....
Abercrombie and Fitch is in the midst of a major comeback, but the retailer is still being haunted by the alleged sins of former chief executive Mike Jeffries. The company was sued Friday for turning a blind eye to Jeffries' alleged misconduct, court records show. He's accused of running a...
Amazon is considering an expansion into veterinary telehealth in its latest bid to compete with Walmart, which began offering the service to Walmart+ subscribers earlier this year, people familiar with the matter told CNBC. The e-commerce giant, which has already expanded into human health with its acquisition of One Medical,...
Illustration by Elham AtaeiazarIt's no secret that Shein has ambitions to go public, but the fast-fashion juggernaut will have to overcome a slew of hurdles before it can win over Wall Street.The digitally native retailer skyrocketed to prominence during the Covid-19 pandemic after shoppers across the globe fell in...
A Rite Aid store in Kingston, New York, on May 15, 2023.Angus Mordant | Bloomberg | Getty ImagesRite Aid lost more than $1 billion in the months before it filed for bankruptcy, the failed drugstore chain revealed in a Wednesday regulatory filing, as it warned investors it may not...