Forever 21’s operator in the US filed for Chapter 11 bankruptcy, listing assets of $100 million to $500 million and liabilities of $1 billion to $5 billion. The company, known for popularizing fast fashion, struggled to compete with online retailers, leading to its second bankruptcy filing in 2023. After being bought out of bankruptcy in 2019, Forever 21’s operator Sparc Group signed an agreement with Shein, a Chinese e-commerce retailer, allowing Shein to buy a third of Sparc’s shares and potentially operate stores within Forever 21 outlets.
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Why Dollar General Stock Soared Today
Dollar General (NYSE: DG) experienced a 15.9% stock surge in Tuesday's trading following its impressive first-quarter results, which significantly surpassed Wall Street's sales and earnings targets. The company not only exceeded expectations for the period but also revised its full-year performance targets upward. This strong performance reflects Dollar General's robust position in the retail sector. Full Article
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