It’s been another week with far more retail news than there is time in the day. Below, we break down some things you may have missed during the week and what we’re still thinking about.
From Youthforia shutting down to Chairish getting acquired, here’s our closeout for the week.
What you may have missed
Puma beefs up executive team
Within the space of a week, Puma named both a chief operating officer and a vice president of its basketball division.
Andreas Hubert, previously Adidas’ chief information officer, will take over as Puma’s operations chief come Sept. 1, where he will lead global sourcing, sustainability, product development, IT and logistics. That shift also moves certain responsibilities under the COO role that were previously spread out among the executive team, specifically sourcing, IT and logistics. Hubert, who will join Puma’s management team, spent 20 years at rival Adidas across various leadership roles.
Meanwhile, Timberland’s chief merchant Archie McEachern will head up basketball starting Aug. 18. The executive has nearly 30 years of experience at activewear powerhouse Nike and was previously the CEO of basketball innovation startup 360 Hoops. He will report to Chief Product Officer Maria Valdes.
Valdes called McEachern “a seasoned expert who understands both product and the culture of our consumers” as the company noted recent momentum at Puma in the all-important category. CEO Arthur Hoeld, himself a long-time Adidas veteran who just arrived in July, likewise praised COO Hubert for his “deep industry experience” and “extensive background.”
Puma is weathering a tough spot financially, reporting a sales decline and guidance cut just last week.
Youthforia shuts down
Beauty brand Youthforia this week announced it is closing.
“It’s been a dream to create such a beautiful brand — but unfortunately, I’ve made the hard decision to shut down Youthforia,” founder Fiona Co Chan said in a post on the brand’s Instagram page.
The beauty brand faced controversy in recent years. It received criticism after launching its Date Night Skin Tint Serum Foundation in 2023 for having a limited shade range, with few designed for darker skin tones. When the brand added 10 additional shades last year, its darkest shade, 600, drew backlash. Some critics compared the shade to black face paint.
The brand pulled the shade from store shelves and online, and Chan later attributed the “missteps” to “rush[ing] the process to create this shade extension.”
The brand’s website is offering 50% discounts on products with all sales final.
Crocs anticipates double-digit declines as tariffs take a toll
Crocs has been having a decent year so far, but the company expects its performance to deteriorate. Blaming “continued uncertainty from evolving global trade policy and related pressures around the consumer,” the shoe retailer on Thursday would only provide guidance for Q3, when it expects revenues to fall as much as 11% and adjusted operating margin to reach 18% to 19%, including some 170 basis points “from announced and pending tariffs.”
Needham analyst Tom Nikic called the Q3 guidance a “big shock” in a client note the same day.
Otherwise, the company said Q2 consolidated revenues rose 3.4% year over year to $1.1 billion, with DTC up 4% and wholesale up 2.8%. Gross margin expanded 30 basis points to 61.7%. The company swung to a $492 million loss from $229 million in net income last year. Crocs brand revenues rose 5% to $960 million while HeyDude revenues fell nearly 4%.
“The dude does not abide,” Nikic wrote.
Retail Therapy
A new take on ketchup
We’ve all heard the debate over whether tomato is a fruit or vegetable. But that, apparently, has raised further questions about what makes something a smoothie — and Heinz is weighing in.
In an attempt to answer the question, “is ketchup a smoothie,” Heinz teamed up with Smoothie King to release a ketchup smoothie. It's an idea so controversial, you’ll want to throw tomatoes at it in protest — but you won’t need to since there’s too many tomatoes already.
The recipe calls for acai sorbet, apple juice, strawberries, raspberries and of course, Heinz Ketchup.
Cava enters blind bag collectibles
Move over Labubu, there’s a new sheriff in town.
Cava has released its own blind bag plushies. When ordering the Hot Harrisa Meal in stores, customers can win one of four plushies starting Monday. Those include Peter Chip, Jimmy Harissa, Garlic Gus and Sweet Sammy, based on Cava’s pita chip flavors.
What we’re still thinking about
11.5%
That’s how much Bark’s total revenue fell in the first quarter, reaching $102.9 million. DTC revenue fell 16.7% year over year to $89.2 million, while wholesale revenue was up nearly 50% to $13.7 million. Net loss narrowed to $7 million from $10 million in the year-ago period.
The company said that Bark Air, which launched in the spring of 2024, surpassed $2 million in revenue in Q1.
$85M
That’s how much it cost Auction Technology Group to acquire fixed-price vintage home furnishings marketplace Chairish Inc., which operates Chairish in the U.S. and Pamono in Europe. ATG runs auction marketplaces LiveAuctioneers, The Saleroom and more across categories including arts, antiques, collectibles, design and industrial.
"This is a milestone step in our mission to transform how people connect with unique finds," John-Paul Savant, CEO of ATG, said in a statement. "Chairish complements our marketplace portfolio with beautifully curated inventory, deep seller relationships, and a loyal design-savvy audience. Together, we are creating a multi-brand platform that brings greater choice and possibility to buyers and sellers alike."
What we’re watching
Sen. Warren warns Dick’s Foot Locker takeover could hurt consumers, workers and small stores
U.S. Sen. Elizabeth Warren this week sent the Federal Trade Commission a letter asking the agency to “closely scrutinize” Dick’s Sporting Goods’ planned acquisition of Foot Locker. The Massachusetts Democrat, who has long been a consumer advocate, said the combination could reduce consumer choice, raise prices, slash jobs and endanger small businesses.
Dick’s didn’t immediately return a request for comment. The sports gear giant in May announced plans to acquire its rival for $2.4 billion. Analysts have looked askance at the proposal, which some see as a big bet on Nike.
“The combination of Dick’s Sporting Goods and Foot Locker would decrease competition in the retail athletic footwear markets, cut jobs, raise prices, and leave Americans to foot the bill,” Warren said in a statement Wednesday. “This is particularly concerning given that more than half of parents ‘plan to sacrifice necessities, such as groceries,’ because of rising prices for back-to-school shopping, including sneakers.”
