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.

Levi Strauss & Co. Files For IPO

Levi Strauss & Co. has filed for an IPO and will be listed on the New York Stock Exchange under the ticker symbol “LEVI.” The number of shares to be offered and the price range for the proposed offering have not yet been determined.

RELEX Solutions Secures $200 Million Investment To Accelerate Product Development

Editor's Note: This article has been edited since it was originally published. RELEX Solutions, a provider of unified retail planning solutions, has secured a $200 million minority investment from TCV. With the investment, RELEX plans to: Accelerate its product development ambitions in areas such as workforce optimization; Hire more tech talent; and Expand its retail-specific machine learning and AI capabilities. The platform is designed to leverage AI to help retailers improve product forecasting, localization and replenishment capabilities. The company’s sales have expanded at a rate of 50% per year, according to a statement.

Rebag Expanding To 30 Locations Following $25 Million Fundraising Round

Rebag, a luxury handbag resale marketplace, will expand its physical presence to 30 stores from its current five in the medium term including both freestanding and mall-based locations. The expansion will be fueled by $25 million in Series C funding that brings Rebag’s total funding to $52 million.

Foot Locker Invests $100 Million In Online Footwear Marketplace GOAT

Foot Locker is investing $100 million in GOAT Group, which operates online footwear marketplaces GOAT and Flight Club. Foot Locker's investment will bring the total raised by GOAT Group to $197.6 million since it was founded in 2015. This latest round brings GOAT’s valuation to more than $550 million. Over time, Foot Locker and GOAT Group will combine efforts across digital and physical retail platforms to create exclusive customer experiences, according to a statement. The investment also is expected to help accelerate GOAT Group's global operations. With nearly 3,220 stores in 27 countries, Foot Locker’s global locations can potentially serve as new access points for GOAT sellers and shoppers.

Stripe Secures $100 Million In New Funding; Company Valued At $22.5 Billion

Mere months after generating a $245 million funding round led by Tiger Global Management, payment infrastructure company Stripe has secured another $100 million from the investment firm, boosting its valuation to $22.5 billion. The new funding will help the payment company expand its international reach. While Stripe is presently live in 25 countries, the company is building a distributed global engineering team. Stripe has already opened a fourth engineering hub in Singapore to complement its San Francisco, Seattle and Dublin locations.

Alibaba Sales Growth Slows Along With Chinese Economy, But Profits Build Optimism

Alibaba reported 41% revenue growth to $17.06 billion in Q3 — which, surprisingly, is the slowest growth rate in three years for the Chinese e-Commerce giant. But like Amazon, the company’s diversified revenue channels and ability to increase net income 33% to $4.5 billion have ignited confidence from investors, even…

Installment Payment Provider Splitit Raises $8.6 million In IPO

Splitit, a monthly installment payment solution provider, has raised $8.6 million through its initial public offering, which valued the company at $38.7 million. Splitit provides retailers with software that lets shoppers split payments into interest- and fee-free monthly installments. The company had processed $67.3 million across 118,000 transactions by the end of Q4 2018.

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.…
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