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Chinese-founded fast fashion behemoth Shein isn't just working to win over lawmakers in Washington, D.C., as it gears up for a potential U.S. IPO, it's also trying to win over the broader U.S. retail industry.
Connected fitness company Hydrow, which Peloton once tried to buy, is growing sales and has acquired a majority stake in strength training company Speede Fitness as gymgoers move away from cardio exercises in favor of weights, the company told CNBC on Thursday.
A number of private equity firms have been considering a buyout of Peloton as the connected fitness company looks to refinance its debt and get back to growth after 13 straight quarters of losses, CNBC has learned.
Peloton announced Thursday that CEO Barry McCarthy will be stepping down and the company will lay off 15% of its staff because it "simply had no other way to bring its spending in line with its revenue."
Nike CEO John Donahoe on Friday blamed remote work for the company falling behind on innovation, saying that it's tough to be disruptive when people are working from home.
Nike CEO John Donahoe acknowledged Friday that the company moved too far away from wholesale partners like Macy's and DSW in its quest to become a retailer that primarily sells merchandise to shoppers through its own stores and website.
Nike on Thursday reported holiday sales that beat estimates, helped by better than expected growth in North America.
Lululemon on Thursday reported holiday earnings that topped expectations, but the athletic apparel retailer's guidance came in below estimates as its growth in North America stagnates.