BUSINESS

Ether surged 7.5%, dogecoin jumped 7.5%, and solana added 5.3% as global equities rebounded and $700 million flowed into U.S. spot bitcoin ETFs since the start of March.

The strategy aims to build upside exposure in March and April while minimizing upfront cost.

U.S. spot bitcoin ETFs added another $155 Million on Wednesday, continuing a two week run of institutional inflows even as Glassnode warns underlying demand remains fragile.

Looking for help with today’s NYT Midi Crossword? Here are some extra clues and the answers to help you with today’s puzzle.

AEW Dynamite showcased three pay-per-view-quality matches from El Paso, including MJF defending the world title against Kevin Knight.

BTS returns with their first group performance in nearly four years, broadcasting live from Seoul’sGwanghwamun Square on March 21. Streaming times from your time zone here.

The protocol has repurchased about 1.83 Billion SKY tokens with USDS while a March 2 governance proposal reduced staking emissions and expanded credit infrastructure around its USDS stablecoin.

Seeing liquidation sales and store-closing signs at once-iconic mall anchors has become a familiar sight across North America, slowly taking away shopping options in many communities and signaling continued challenges across the retail sector.Major department store chains such as Macy’s (M), JCPenney (JCP), and Kohl’s (KSS) have shuttered locations amid shifting consumer demand, higher operational costs, and intensifying competition.Now, another legacy retailer is evaluating its future.After navigating a U.S. bankruptcy restructuring, closing underperforming stores, and working to restore profitability, a Canadian outdoor apparel brand could potentially be selling its entire business after more than five decades.Roots explores a potential saleRoots Corporation (RROTF) confirmed in a recent press release that it has initiated a formal review of strategic alternatives to maximize shareholder value, including a potential sale of the company.The review is part of a broader value-maximization strategy, and the company will continue executing its current business plan during the process. Roots stated it does not intend to provide further updates unless and until a specific transaction is approved or disclosure becomes legally required. There’s also no guarantee that a deal will occur.The move follows the company’s appointment of Rosie Pouzar as Chief Commercial Officer in February 2026. Roots CEO Meghan Roach said the leadership addition intends to sharpen enterprise priorities, accelerate decision-making, and unlock new growth opportunities, according to a company press release.Roots went public in October 2017 at $12 per share but has struggled to consistently meet profitability expectations since its IPO. While the company has generated free cash flow in multiple periods, margins have remained under pressure.TD Cowen analyst Brian Morrison said in a note that a potential transaction could value the company’s shares between $4 and $4.5 based on valuation multiples of comparable retailers, as reported by Bloomberg.Strategic review processes are often initiated when companies seek to unlock shareholder value, respond to market changes, reduce financial risk, gain access to capital, or pursue ownership structures better suited for long-term growth.

Roots Corporation explores potential sale of entire business.Image Source: Shutterstock

Roots U.S. Chapter 7 bankruptcy and restructuring Roots filed for Chapter 7 bankruptcy protection in the U.S. in 2020 amid financial challenges resulting from the COVID-19 pandemic. At the time, the company reported approximately $9.6 million in assets and $15.4 million in liabilities tied to its U.S. operations.The filing led to the liquidation and closure of nearly all its U.S. stores, leaving just two physical locations nationwide. However, Roots maintained its e-commerce platform to preserve market distribution without expanding its brick-and-mortar footprint.   More Store Closures:153-year-old bookstore chain confirms more closures in 2026Aritzia brings back iconic fashion brand after shutdown159-year-old retail giant announces more store closuresThe Giant Company acquires stores as owner exits marketToday, the company operates around 100 stores in Canada, two in the U.S., and over 100 partner-operated locations in Asia. It also has an e-commerce platform that delivers to more than 70 countries worldwide.Roots’ multi-year turnaround strategy shows progress, but profitability remains shakyDuring a June 2025 earnings call, Roots unveiled a multi-year turnaround plan focused on in-store customer engagement, strengthening digital merchandising, optimizing inventory availability, and enhancing omnichannel capabilities to boost sales and get its business back on track.As part of this strategy, the company has closed underperforming locations to allocate capital toward stores with stronger long-term profitability potential. Roots said the strategy had begun showing early signs of progress. In the first quarter of fiscal 2025, sales increased nearly 7% year over year. However, the company still reported a net loss of almost $8 million CAD ($5.87 million USD).By the third quarter of fiscal 2025, sales rose 6.8% to $71.5 million CAD ($52.43 million USD). Net income totaled $2.3 million ($1.69 million USD), down 4.5% from the prior year, signaling slower earnings growth despite higher sales.Roots CFO Leon Wu said in the earnings report that investments in strategic growth strategies continue to deliver results. “We have sustained positive sales momentum and maintained the underlying margins of those sales, supporting a stronger balance sheet with year-over-year reductions in net debt,” Wu said.Roots’ shares fell 4.1% on March 2 before rebounding 5.6% on March 4 following news of the strategic review. The company’s market capitalization stands at approximately $118.03 million CAD ($86.34 million USD), with a high debt-to-equity ratio and limited liquidity reflecting ongoing financial strain, according to MarketBeat.What this means for investorsA potential sale of the business could provide new opportunities, including access to new capital. However, if no deal is made, the company’s ability to expand margins and reduce debt will likely determine long-term shareholder returns. Related: Apple closes all stores in fast-growing market