Why the retail industry is facing a bankruptcy wave

Revlon makeup products are displayed at a CVS store on August 9, 2018 in Sausalito, California. Justin Sullivan | Getty Images The retail industry is up against a potential wave of bankruptcies following a monthslong slowdown in restructuring activity. There could be an increase in distressed retailers beginning later this year, experts say, as ballooning … Read more

Franchise Group considers lowering Kohl’s bid closer to $50 a share from $60

People walk near a Kohl’s department store entranceway on June 07, 2022 in Doral, Florida. Kohl’s announced that it has entered into exclusive negotiations with Franchise Group, which is proposing to buy the retailer for $ 60 per share. Joe Raedle | Getty Images The retail holding company Franchise Group is weighing lowering its bid … Read more

Cosmetics giant Revlon files for Chapter 11 bankruptcy protection

Daniel Acker | Bloomberg | Getty Images Cosmetics giant Revlon filed for Chapter 11 bankruptcy protection on Wednesday evening as it grappled with a cumbersome debt load and a snarled supply chain. The company said it expects to receive $ 575 million in debtor-in-possession financing from its existing lender base, which will help support its … Read more

Prologis, major Amazon warehouse landlord, to buy Duke Realty for $26 billion

Signage outside a Prologis warehouse occupied by Kuehne + Nagel in Redlands, California, US, on Sunday, Nov. 7, 2021. Fallout from the global supply-chain crisis is clogging US ports, pushing warehouses to capacity and forcing logistics managers to scramble for space. Roger Kisby | Bloomberg | Getty Images Warehouse giant Prologis said Monday that it … Read more

Simon Property CEO aims to create new sales event as inflation surges

David Simon, chairman and chief executive officer of Simon Property Group Patrick T. Fallon | Bloomberg | Getty Images David Simon, the chief executive officer of the biggest shopping mall owner in the country, wants to create a new type of annual shopping extravaganza as consumers are increasingly feeling the pinch of inflation just about … Read more

Why Franchise Group wants to buy Kohl’s and what could happen next

Shoppers enter Kohl’s store in Peoria, Illinois. Daniel Acker | Bloomberg | Getty Images A little-known conglomerate of companies including the Vitamin Shoppe, Pet Supplies Plus and a home furnishing chain called Buddy’s is suddenly the talk of the retail industry. Franchise Group, a publicly traded business with a market capitalization of about $ 1.6 … Read more

Kohl’s enters exclusive sale talks with Franchise Group

The Kohl’s logo is displayed on the exterior of a Kohl’s store on January 24, 2022 in San Rafael, California. Justin Sullivan | Getty Images Kohl’s said Monday that it has entered into exclusive negotiations with retail holding company Franchise Group, which is proposing to buy the retailer for $ 60 per share. Such a … Read more

Kohl’s sale negotiations could drag on for weeks, possibly longer

The drawn-out bidding process for Kohl’s does not appear to be coming to an end any time soon. It could take several weeks, if not longer, for a deal to come together, a person familiar with the situation told CNBC. The dialogue has been particularly lengthy because of the difficulty in securing financing in uncertain … Read more

Lululemon (LULU) Q1 2022 earnings beat estimates

Pedestrians seen walking past Canadian athletic apparel retailer Lululemon in Shanghai. Alex Tai | SOPA Images | LightRocket | Getty Images Lululemon customers so far aren’t balking at higher prices on the retailer’s leggings and sports bras, Chief Executive Officer Calvin McDonald said Thursday. The athletic apparel maker reported fiscal-first quarter profit and revenue that … Read more

Levi Strauss & Co. (LEVI) reaffirms 2022 outlook, boosts guidance

A sign is posted in front of the Levi Strauss & Co. headquarters on April 09, 2021 in San Francisco, California. Justin Sullivan | Getty Images News | Getty Images Levi Strauss & Co. on Wednesday maintained its outlook for the full year and boosted its financial targets over the next five years as the … Read more