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 Pringles hot dog buns to a late start to back to school, here’s our closeout for the week.
What you may have missed
Chewy names chief brand officer
Pet retailer Chewy named Melissa Bell as its chief brand officer, according to a LinkedIn post from CEO Sumit Singh.
“Her experience leading brand strategy, marketing, and creative at global companies makes her a great addition as we continue building Chewy as the most trusted and convenient destination for pet parents and partners, everywhere,” Singh wrote.
Bell has previously held marketing roles at Warner Bros. Discovery and video game publisher 2K, as well as a number of car manufacturers including Volvo, Volkswagen and Infiniti, according to her LinkedIn profile.
Victoria’s Secret introduces its ‘softest bra yet’
Victoria’s Secret announced the latest bra collection to join the Pink portfolio, dubbed Marshmallow.
The collection includes four wireless silhouettes made with a soft fabric that has four-way stretch, convertible straps, and detailing that makes it “nearly invisible” under clothing, according to a Wednesday press release from the company.
"Our customer tells us exactly what she's looking for, and comfort continues to be at the top of her list,” Ali Dillon, President of Victoria's Secret Pink, said in a statement. “The Marshmallow Collection is our softest bra yet — designed for the moments when comfort matters most, supporting her so she feels her best every time she puts it on."
Three of the styles are pull-on, while one retains a back closure. The collection is priced between $29.95 and $49.95, comes in over 30 sizes, from XXS to XXL and SDD to LDD, and is offered in a number of neutrals, earth tones, prints and bright colors, per the announcement.
Retail therapy
Pringles hot dog buns — sure, why not?
Ahead of National Hot Dog Day on Wednesday, Pringles debuted a line of can-sized potato-based buns in Pringles flavors. Called Pringles Pop Dog Buns, the collection features sour cream and onion, barbecue and honey mustard flavors.
The product is available for free with the purchase of a Pringles three pack of crisps while supplies last, per a company press release Monday.
“We wanted to take something everyone knows and completely flip it into an exciting new snackable experience," Mauricio Jenkins, salty snacks brand and content lead for Mars Snacking North America, said in a statement.
What we’re still thinking about
125K
That’s how many shares RH Chairman and CEO Gary Friedman sold this week, trimming his stake in the company to 23.88%. Why? To repay personal debt and fund improvements to his properties.
Friedman was quick to clarify that he sold the stock “solely to satisfy certain financial obligations.” He has sold shares a number of times, including in 2022, to pay the costs associated with an expiring IPO and stock option grants.
“My shares continue to represent the largest ownership position in RH and the vast majority of my net worth, reflecting my continued commitment to RH and confidence in the Company’s strategy and growth prospects,” Friedman said in a statement Wednesday.
What we’re watching
Consumers are late for school
The back-to-school shopping season conjures up images of new shoes, sharp pencils and empty notebooks. But these days, a lot of families aren’t buying supplies until well after the first bell rings.
Deloitte researchers believe spending will peak in late July and early August, a return to pre-pandemic trends, according to their recent survey. But Circana research indicates that the season is much less predictable than it once was.
Indeed, back-to-school shopping “has evolved into a more fluid and extended spending period that will likely shape retail performance through the fall,” Marshal Cohen, chief retail adviser at Circana, said in a report Wednesday. Weather and consumers’ budgets — including concern about gas prices — are factors, he said by phone.
“Back to school is going to be really late and small this year,” Cohen said. “That's been a continuing trend.”
