Financial News

Instacart’s Long-Awaited IPO Values Company at $10 Billion

Instacart has made its initial public offering (IPO), pricing its stock at $30 per share and valuing the grocery delivery and technology…

Instacart, Klaviyo Move Closer to IPO Filings

Instacart has moved another step closer to an IPO, filing an S-1 form with the Securities and Exchange Commission (SEC) but not…

Q2 Results Roundup: Walmart and TJX Shine, Target and Home Depot Stumble

The nation’s two biggest big-box retailers, Walmart and Target, reported markedly different results for their second quarters. For the three-month period ending…

Alibaba Boosts Q2 Revenue 14%

For the first three-month period following its March 2023 corporate restructuring into six distinct businesses, Alibaba Group increased Q2 revenue 14% year-over-year…

WSJ: CVS Eliminates 5,000 Corporate Jobs in Cost-Cutting Effort

As part of a restructuring effort initiated in Q2 2023, CVS Health will cut 5,000 jobs as the company focuses more on…

GameStop Posts $50.5 Million Loss in Q1, Fires CEO

After reporting its first quarterly profit in two years in March 2023, troubled retailer GameStop posted a $50.5 million loss in Q1…

Serta Simmons Gets Approval to Exit Bankruptcy

Serta Simmons Bedding (SSB) will emerge from bankruptcy “in the near future,” according to a company press release. The retailer, which filed…

Rent the Runway Cuts Losses in FY22, Tops 141,000 Active Subscribers

Executives at Rent the Runway are describing the company as on a “path to FCF [free cash flow] profitability” following a strong…

Shoe City, Filing for Bankruptcy, Plans to Close All Stores

Shoe City has filed for Chapter 11 protection in the U.S. Bankruptcy Court in Maryland and plans to close all 39 stores…

Tuesday Morning Receives $12.5M in New Debtor-in-Possession Financing

Off-price home goods retailer Tuesday Morning, which filed for bankruptcy in February 2023, has received $12.5 million in debtor-in-possession (DIP) financing from…