It's been another weird week in retail. Target releases a product that will keep the essentials cool this summer, Tiffany may be facing some competition from Costco and four of a bad thing doesn't make it good.
This, and more, in this week's retail therapy.
Target cools down the fanny pack trend
With Memorial Day in the rearview, summer is in full swing. For many of us, that means cooling off at the pool, heading to outdoor concerts or, if you're anything like us, drinking copious amounts of rosé. But what if we wanted to combine all three? Luckily, Target solves all of our problems with one answer.
The retailer is selling an insulated fanny pack that it says is perfect to "stash a sandwich and clementines for an outdoor lunch, or a small can of lemonade." But really, the small pouch looks to us like the perfect size to hold canned wine and craft beers. Total game changer this summer.
The pouch comes in two prints, pink grapefruit and iridescent mermaid, and for only $6, there's absolutely no reason everybody shouldn't be sporting this for the next few months.
Costco gets a sales boost from a single $400K ring
Tiffany may be facing some diamond competition from Costco. You know, the same retailer that sells a 27-pound tub of macaroni and cheese.
On a conference call with analysts, Costco's CFO Richard Galanti said the retailer received a slight bump in sales in the third quarter due in part to "some significant diamond repurchases one in the $400,000 range." A SINGLE DIAMOND RING. FOR $400,000.
Galanti didn't provide many details regarding the expensive ring, but we did find this 10.03 carat ring (priced at $419,999.99) on Costco's website.
To put the size of this ring into perspective, let's take a look at some famous diamonds sitting on celebrities fingers. That planet of a rock Joe Manganiello put on Sofia Vergara's finger? A mere 7 carats. The ice Kobe Bryant gave Vanessa? Just 8 carats. And Meghan Markle's royal jewel from Prince Harry is almost laughable in comparison, measuring a mere 4 to 4.5 carats.
Analysts on the call were quick to question how the retailer's comps would hold up next year after the exorbitant purchase.
"Well," Galanti responded, "do you have an anniversary coming up?"
One size fits four
When something doesn't go right, we're often told to keep trying until it does. However, Y/Project proved to the world the same doesn't apply to fashion missteps.
The designer created a top that's essentially one T-shirt with three additional shirts attached to the front. This is why people simply shouldn't mess with a classic. The shirt was originally priced at $425, but the brand has since slashed the price to $191. We can't imagine why.
And the worst part? This disaster isn't even original.
Just over a year ago, Balenciaga birthed the "T-shirt-Shirt," which was exactly what the name sounds like: an oxford secured to the neck of a T-shirt. And then R13 came out with its "Double Back Short" and "Double Back Jeans," which took denim and sewed even more denim to it.
A note to all the retailers: Less really is more.
Forever 21 gets flamin hot with Cheetos apparel
The fast-fashion retailer has never been known to play it safe with its merchandise. In February, Forever 21 collaborated with 21 Savage to unveil a Honda-themed collection (yes, the car maker). And then it delivered us what we thought was the most ridiculous collaboration, with none other than the U.S. Postal Service.
Perhaps the "Forever" in its name really means "forever forming absurd collaborations." The retailer on Thursday announced its latest partnership with PepsiCo Frito-Lay snack brand Cheetos.
The limited-edition collection will include swimsuits, sweatshirts, T-shirts, and of course, slides. "Cheetos is more than a snack brand; we've become a lifestyle brand among our fans," Brandi Ray, senior director of marketing at Frito-Lay North America, said in a statement.
Forever 21 gonna make me look like a share sized bag ???? pic.twitter.com/BZL6GR12bo— val. (@valgaaal_) June 6, 2019
We always assumed the Cheetos fans were already wearing their favorite snack in the form of that unnaturally neon "cheese" powder.
For a retailer that's currently mulling its financial options — including potential bankruptcy — maybe toning down the ridiculousness just a notch is something to consider. Just a thought.