Inside | Real news, curated by real humans
Inside Retail

Inside Retail (Jul 5th, 2017)

Camping World Holdings Inc. (CWH) now plans to re-open fewer stores than it originally anticipated after it recently acquired Gander Mountain and its Overton’s Inc. boating business. Camping World bid for the companies’ assets in a bankruptcy auction. The amount of the deal is about $33 million. At the time, the company said it planned to operate 70 more locations, but chairman Marcus Lemonis said it will open 57 locations. “We are not willing to open stores which we do not believe have a clear path to profitability,” Lemonis said. Camping World shares are up 35.8 percent the past year, and down 6.3 percent year-to-date. – RETAIL DIVE

  • Email gray
  • Permalink gray

Abercrombie & Fitch Co. (ANF) is expanding its smaller concept store to Hong Kong. It will be the apparel retailer’s second concept store opened this year, after its first prototype opened in Columbus, Ohio in February. Abercrombie said it is trying to foster more customer engagement and productivity in a smaller footprint with this first major redesign in 15 years. The Hong Kong store will be about 6,800 square feet and will have a boutique feel. In its new stores, Abercrombie is toning down its oversized graphics and loud music. The retailer plans to open another five new prototype stores in 2017. – ABERCROMBIE & FITCH  

  • Email gray
  • Permalink gray

Pier 1 Imports Inc. (PIR) reported first-quarter net sales of $409.5 million, lower than analysts expected and down 0.2 percent from the year prior. The home-furnishing retailer reported an adjusted net loss of 4 cents per share, one cent better than analysts expected. “Whilst we've shown operational improvement for several consecutive quarters, there is still much to be done to build the business to its full potential," said Pier 1 CEO Alasdair James in a statement. Pier 1 Imports stock is down 3 percent the past year, and down more than 38 percent year to date. – CNBC

  • Email gray
  • Permalink gray

True Religion Apparel Inc. has filed for bankruptcy protection. The jeans maker is the latest retailer to succumb to declining sales amid shifting consumer habits. The company’s private equity owner, TowerBrook Capital Partners, filed for Chapter 11 protection after it made deals with lenders to pare down about $350 million in debt. The company will keep stores open and try to expand online as it restructures, although it plans to close underperforming locations. True Religion also plans to renegotiate leases with landlords. The California-based company has already closed about 30 stores and cut its workforce in recent years, but it still posted a $78.5-million loss last year. – MARKETWATCH

  • Email gray
  • Permalink gray

RadioShack creditors have filed a lawsuit against Sprint Corp., saying the telecom provider used confidential information from its alliance to open competing mobile phone stores. RadioShack struck a deal with Sprint to co-brand about 1,400 locations after it emerged from bankruptcy in 2015. RadioShack, which is again in bankruptcy as of earlier this year, is seeking $500 million in damages as it liquidates. The company said Sprint failed to provide staff and inventory in stores because of its own financial turmoil. “Sprint’s action destroyed nearly 6,000 RadioShack jobs,” the lawsuit says. – REUTERS

  • Email gray
  • Permalink gray

Subscribe to Inside Retail

MORE NEWSLETTERS

The present and future of immersive technology

Inside XR

The present and future of immersive technology

DAILY
The present and future of immersive technology

Inside XR

DAILY

SUBSCRIBED!

Share via

Explaining the business and consumer sides of social media networks

Inside Social

Explaining the business and consumer sides of social media networks

DAILY
Explaining the business and consumer sides of social media networks

Inside Social

DAILY

SUBSCRIBED!

Share via

A thoughtful roundup of news and links for developers

Inside Dev

A thoughtful roundup of news and links for developers

DAILY
A thoughtful roundup of news and links for developers

Inside Dev

DAILY

SUBSCRIBED!

Share via

A hand-picked selection of products, deals, and ways to save money.

Inside Deals

A hand-picked selection of products, deals, and ways to save money.

DAILY
A hand-picked selection of products, deals, and ways to save money.

Inside Deals

DAILY

SUBSCRIBED!

Share via