Remove 2017 Remove Accounting Remove Returns
article thumbnail

Under Armour Settles Accounting Practices Suit for $434 Million

Retail TouchPoints

The lawsuit, filed in 2017, alleged that Founder and then-CEO Kevin Plank knowingly or recklessly misrepresented facts regarding consumer demand for Under Armour’s products as well as the company’s financial and operating results, according to the Wall Street Journal. 16, 2015 and Nov.

article thumbnail

Returns Go Digital – How Can Retailers Keep Customers Coming Back?

Retail TouchPoints

Returns in the retail industry have always posed a challenge. A report from Statista estimated 2020 return delivery costs at $550 million, up 64% since 2017. In addition, the past decade has seen returns baked into the business model of several direct-to-consumer starts-ups, including Warby Parker, Stitch Fix and Zappos.

Returns 226
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Has Amazon Finally Cracked the Code for Grocery Retailing?

Retail TouchPoints

Heres what I discovered about Amazons latest wave of grocery retail development: First, a Little Fresh History Those of you who have followed the Amazon grocery saga know that the tech giant has struggled to find its footing in this category since its 2017 $13.7 billion acquisition of Whole Foods. That said, 180 million U.S.

Checkout 284
article thumbnail

Mattress Firm Puts IPO on Ice, Citing Market Volatility

Retail TouchPoints

In January 2022, the mattress chain announced its plans to list on the New York Stock Exchange via an IPO that would have returned the furniture retailer to the public markets six years after South Africa’s Steinhoff International took the company private. Today, Mattress Firm operates 2,300 stores across the U.S.

Marketing 311
article thumbnail

Under Armour Begins Search for New CEO as Frisk Steps Down

Retail TouchPoints

Frisk, who has been with the company since 2017 and at the helm since 2020, will stay on as an advisor through Sept. The last five years have been a turbulent period for the sportswear brand, which saw business begin to slide in 2017 following years of record growth. 1, 2022 to help with the leadership transition. ”

Wholesale 288
article thumbnail

Saks Parent HBC to Buy Neiman Marcus Group for $2.65 Billion, Including Investment from Amazon

Retail TouchPoints

Negotiations for a potential purchase of the luxury department store retailer stretch as far back as 2017. In Forbes , Kestenbaum wrote: “It could be that [Amazon] is expecting a return by selling services to the combined company and the investment locks the business in. To fund the acquisition, HBC has secured $1.15

article thumbnail

Mattress Firm Files for IPO 6 Years After Going Private

Retail TouchPoints

Mattress Firm has publicly filed for an IPO that will return the furniture retailer to the public markets six years after South Africa’s Steinhoff International took the company private. After going private in 2016, the chain hit a few bumps in the road, including an accounting scandal that saw the resignation of the current CEO.