Financial News

Which retail companies have reported the most successful year-over-year growth? How much did company X spend on its latest expansion? In the Retail TouchPoints Financial News section, industry insiders can find out what their peers are spending and how they are faring in the marketplace. This information can be useful for future implementation strategies, real estate ventures and growth opportunities.

Macy’s And Kohl’s Disappoint During Holiday, But Target Finishes Strong

Department stores came into the holiday season with high hopes, particularly as initial online Thanksgiving weekend numbers indicated that sales would be plentiful. However, recent holiday sales reports from Macy’s and Kohl’s reveal that though their expectations were great, the reality was anything but. However, one major retailer, Target, actually surpassed expectations. Macy’s saw shares drop as much as 19% on Jan. 10, after the retailer unveiled November-to-December same-store sales only increased 1.1%, with a lull occurring in the mid-December period. CEO Jeff Gennette said holiday sales disappointed in sportswear, sleepwear, jewelry and cosmetics, and Macy’s now expects no net sales growth for fiscal 2018, scaling back initial projections of 0.3% to 0.7% growth. The company also dialed back its earnings per share range, from $4.10 to $4.30 to $3.95 to $4.00. Raises $15.5 Million To Expand Data Analytics Offerings, a web data integration solution provider, has closed a $15.5 million Series B funding round. The money will help accelerate global growth and expand its product offerings, which can help retailers derive insights from the data they have collected.

ShopKeep Secures $65 Million Funding Round

ShopKeep has completed a $65 million round of equity and debt financing led by Tribeca Venture Partners. The venture capital firm also led the company’s funding round in 2011. The tablet-to-cloud payments and POS platform provider plans to use the new capital to support ongoing growth initiatives and to expand into other business segments across a wider range of services and locations. Initiatives include expanding the company’s recently launched ShopKeep Capital service, which provides ShopKeep customers with working capital funding, extending the capabilities of its new Android-based platform and exploring international markets.

NuORDER Completes $15 Million Funding Round

B2B wholesale e-Commerce platform NuORDER has secured $15 million in Series C funding led by NewSpring, joined by existing investors Upfront Ventures and Argentum. NuORDER has raised a total of $40 million, and plans to use the additional financing to accelerate product innovation and grow its internal team. In recent customer news, Nordstrom implemented the NuORDER solution to move its buying process online with its supplier brands. To date, NuORDER has more than 1,000 brand customers and 400,000 retailers completing transactions on its platform. The company has facilitated a total of 3.25 million orders.

E-Commerce Sales Help Department Stores Start Holiday 2018 Strong

Coming off a solid Q3 that saw overall top-line revenue growth, department stores are finally reaping the rewards of their e-Commerce investments. These retailers appear to have grabbed a sizeable slice of the $20.8 billion consumers shelled out online over the Thanksgiving Weekend. Sales totals for Cyber Monday alone show that the “big four” department stores significantly improved their online offerings at the start of the season, according to analysis of 3 million anonymized and aggregated email receipts from Edison Trends: Kohl’s boosted revenue 42% on Cyber Monday; Macy’s improved revenue 30%; Nordstrom revenue climbed 33%;and Even struggling JCPenney saw a slight sales boost (3%).

Chico’s President Steps Down As Brand Sales Drop 10.2% In Q3

  • Published in News Briefs
Diane Ellis, President of the Chico's brand, will step down from the position, effective Nov. 30, 2018. Parent company Chico’s FAS has initiated a search to identify a new Chico's brand President. In the interim, the Chico's brand will be led by Shelley Broader, CEO and President of Chico’s FAS.…
Read more... Secures $32.5 Million Funding Round has raised $32.5 million in growth capital led by Goldman Sachs Asset Management’s Private Credit Group (GSAM PCG). The online wine retailer will use the capital to enhance its customer experience and brand awareness as well as scale up its infrastructure. The company, which operates a proprietary, multi-node fulfillment network, will invest with the objective of enabling greater order accuracy and timeliness.

Lowe’s Plans Mexico Exit Amid Continued Restructuring

  • Published in News Briefs
Lowe’s intends to exit Mexico as it continues shifting away from its underperforming businesses under the leadership of new CEO Marvin Ellison. The retailer will shutter all 13 of its stores in the country. The exit will result in $22 million in charges for Q3, but Lowe’s will incur the…

Sears Secures $60 Million Bid For Home Improvement Division

Sears Holdings is seeking the bankruptcy court’s approval to accept a $60 million “stalking horse” bid for its Sears Home Improvement business (SHIP). If the court approves the bid from, it would provide a floor price at the bankruptcy auction for the first Sears asset to be sold. is a web site that helps consumers find local home improvement professionals. SHIP is a unit of the Sears Home Services division that makes more than 7 million repairs annually and employs thousands of technicians nationwide, according to its web site. An auction date of Dec. 13 has been proposed, subject to approval by the U.S. District Bankruptcy Court in White Plains, N.Y.Interested parties would have until Dec. 11 to match the bid.

Neiman Marcus Seeks Debt Restructuring To Avoid Bankruptcy

  • Published in News Briefs
Sears has taken a lot of negative press leading up to and ever since its bankruptcy, but the company’s demise has overshadowed the financial struggles of another major retailer fighting to stay afloat. Neiman Marcus has been in talks with a group of creditors in recent weeks in an attempt…

Amazon Joins $35 Million Funding Round For Lifestyle And Food Studio

Tastemade, a digital lifestyle and food network and studio that also sells cooking materials, home and travel gifts, has secured a $35 million Series E funding round with Amazon contributing a share. The amount of capital Amazon invested has not been disclosed. As Amazon continues to create original programming through its own studio and grows as a content provider, Tastemade offers an interesting complement to the e-Commerce giant’s other media offerings. The Tastemade TV linear streaming network features more than 200 hours of original programming and already is available on Amazon Prime video, as well as other streaming services such as YouTube TC, Roku, Apple TV, Philo and the Tastemade App.

Springbot Closes $15 Million Funding Round

Springbot has raised $15 million in a funding round led by North Atlantic Capital. The solution provider will use the investment to continue developing solutions that support the growth objectives of SMB retailers.
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