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 record sales at Urban Outfitters to conglomerates making large acquisitions, here’s our closeout for the week.
What you may have missed
John Varvatos no longer at Under Armour
Under Armour confirmed to Retail Dive last week that John Varvatos is no longer its chief design officer, a position he took on in September 2023. Prior to that, Varvatos consulted with the brand.
“John left UA last fall and remains a friend of the brand,” a spokesperson told Retail Dive.
The company did not respond to questions around who would take over responsibilities or the reason behind the change.
Also on the product side, Yassine Saidi stepped down as chief product officer this year as the brand named a chief merchant. Saidi, who joined in early 2024, played a “pivotal role” in updating the brand’s design language and remains an adviser.
The NYSE just got sexier
Victoria’s Secret & Co. will begin trading under the new ticker symbol VSXY on the New York Stock Exchange starting June 2, according to a press release shared with Retail Dive on Thursday.
The move is part of the retailer’s larger revamp under CEO Hillary Super, who has worked to redefine how the brand approaches what sexy looks like for customers.
“To be clear, this isn’t about a stock symbol,” Super said in a statement. “It’s about what we stand for. Sexy has always been part of our DNA. What’s changed is how intentionally we are owning it. Not by telling women what sexy should be, but by reflecting it back to them in a way that feels authentic, expansive and modern.”
Retail therapy
Spill the (flavored) beans
In a move no one knew they needed, Bush’s Beans launched three limited-edition flavors just in time for the start of summer.
Each product starts with Bush’s Secret Family Recipe, and then is infused with flavor, according to a company press release. Dill Pickle has “just the right amount of zing to balance smoky, grilled favorites”; Apple Pie blends brown sugar, cinnamon and apple pie flavor; Rocket Pop has notes of cherry, lime and blue raspberry.
"With these new Baked Bean flavors, we want to surprise people and bring a new energy to the barbecue spread, because the best dishes aren't just the ones you love, they're the ones you can't stop talking about," Dena vonWerssowetz, Bush’s vice president of marketing, said in a statement.
Shoppers can pick up a variety pack of all three flavors on Bush’s online shop. Apple Pie and Dill Pickle will also roll out at Walmart stores nationwide, and Rocket Pop will be available on Walmart’s website starting Saturday.
What we’re still thinking about
$1.5B
That’s the total net sales Urban Outfitters, Inc. reported in the first quarter — a record for the company. The company saw sales increases across its suite of brands: Sales grew 3.4% at Anthropologie, nearly 17% at FP Group, more than 11% at Urban Outfitters and nearly 35% at Nuuly.
The company also posted “impressive double-digit growth” across its wholesale and subscription segments, according to CEO Dick Hayne, with wholesale net sales up nearly 25% and subscription sales up nearly 35% in the quarter.
Net income also reached a record for the brand, coming in at $115.7 million, up nearly 7% from the year-ago period.
What we’re watching
Brand management portfolios are getting crowded because IP never dies
A slew of iconic brands are getting another chance in their afterlife, thanks to deals inked with brand management firms in recent weeks.
WHP Global, whose stable includes Toys R Us, Lands’ End, Babies R Us, Express, Rag & Bone and Vera Wang, has agreed to buy Marc Jacobs’ eponymous label from LVMH Moët Hennessy Louis Vuitton. Marquee Brands, whose portfolio includes BCBG, A Pea in the Pod, Destination Maternity, Martha Stewart and Sur La Table, is adding Italian luxury fashion house Roberto Cavalli to its roster.
Kontoor Brands, which owns Lee, Wrangler and Norwegian outdoor brand Helly Hansen, is separating its denim brands. The apparel company is selling Lee — said to be James Dean’s favorite jeans — to brand management giant Authentic Brands Group for what could add up to a cool $1 billion.
What is really being traded are these brands’ intellectual property, which allows these firms to forge licensing deals that absolve them of actually running the operations. Authentic — with more than 50 familiar names, including Reebok, Champion, Guess, Nautica, Lucky Brand, Nine West, Juicy Couture, Vince Camuto, Izod, Barneys New York and Quiksilver — has perfected the model. In cases where the brands falter, as with Eddie Bauer, the operators may file for bankruptcy, but the lP owner moves on.
In these scenarios brands essentially exist in perpetuity, with a risk of turning zombie-like. Eddie Bauer’s new license-holder is only selling merchandise online and via wholesale, as no entity came forward to buy the store business. Forever 21, also owned by Authentic, similarly has not found an operator to open stores. Authentic said in September that it was close to a deal for Forever 21 brick and mortar; the company didn’t respond to a request for an update Thursday.
