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 and what we're still thinking about.
From a Supreme and True Religion mash-up to Claire's filing for an IPO a few years after its Chapter 11 bankruptcy, here's our closeout for the week.
What you may have missed
Targeting its pro customer base, Home Depot partners with Ring for jobsite security
The Home Depot on Wednesday announced it partnered with Ring, known for its home security products, on a device aimed at offering security to jobsites. Ring Jobsite Security will use the newly created Ring Alarm Pro, which when paired with Ring's pro subscription service, will provide the tools necessary to keep devices, like security cameras, online.
The move, targeted to the professional customer, also lends the potential for Home Depot to grab even more share among that audience.
"Ring Jobsite Security will help building and construction pros protect and grow their businesses, no matter the size," Wes Neece, Home Depot's merchandising vice president of electrical and lighting, said in a statement. "In the past, only large-scale builders have been able to afford the security necessary to protect job sites. Ring Jobsite Security demonstrates our ongoing commitment to delivering the most innovative products on the market at the best value to our pro customers."
Supreme and True Religion team up for a fall collection
Streetwear brand Supreme and apparel brand True Religion have collaborated on a collection, according to a press release. Items include jackets, sweatshirts, beanies and more. The collection will be available at Supreme stores and supremenewyork.com starting this week.
"A partnership with Supreme is the ultimate testament to any brand's cultural relevance," said Michael Buckley, CEO of True Religion.
This event is poppin'
What's better than Halloween? Halloween with balloons.
Party City this week announced an "immersive pop-up balloon installation" called Boo-Loon Land from Oct. 15 through Oct. 17 in New York City. Guests will go through six Halloween-themed rooms including Dia de los Muertos, fall harvest, black and bones, iridescent glam and others. Some of the top balloon artists in the U.S. (which has to be one of the best jobs ever) will be creating the installations.
Guests can also trick-or-treat, learn how to design a balloon garland and talk with Party City specialists for tips on how to throw a great Halloween party. Tickets are free but guests have to register.
Kanye has a hoodie
Yeezy Gap this week dropped another pre-order opportunity, this time a 100% plain cotton hoodie in six colors that amounts to paying extra to obtain the classic Gap logo hoodie sans logo.
That must be what Gap Inc. Chief Financial Officer Katrina O'Connell meant when she told analysts in August that the brand's collab with Kanye West involves "a creative process versus a more traditional process and so you know that will lead to incremental excitement as this all builds, but it also leads to a different path."
The premium price may reflect the reality that removing the Gap logo from a garment oneself would likely destroy it. In addition to paying $90 up front ($70 for kid sizes), fans of the emblem-free sweatshirt must be in the U.S. to obtain one, and will have to wait two to eight weeks for an order to ship, according to an emailed press release.
Bloomberg reported that the hoodies were marked as sold out on the Gap site within hours of the drop, but it does beg the question — how can you sell out of a pre-order?
What we're still thinking about
That is roughly how long ago Claire's Stores emerged from bankruptcy. Hobbled by debt and a changing mall landscape, the company went into Chapter 11, closed a bunch of stores, eased its balance sheet, and came out whole but smaller. Now, after sales and profit increases, it has filed for an initial public offering, one of more than 10 companies in the industry to do so this year. It was also the third retail Chapter 11 alumnus to file for IPO in September.
Dollar Tree is widening its foray into higher prices with an expansion of its Dollar Tree Plus concept, as well as by raising prices at some of its traditional stores. The move comes at a time when the retailer is being squeezed by soaring supply chain costs that are gobbling up its profits. The discounter is uniquely vulnerable to supply inflation because of its $1 price point. Executives also say that having $3 and $5 price points at its Plus stores helps it expand its assortment. The company's new, expanding format that combines Family Dollar with Dollar Tree into a single store also creates a venue for higher prices.
What we're watching
Eastbay's private label launch
Foot Locker's high-school focused brand Eastbay this week announced a "first of its kind" private label will be launching Monday, a performance line aimed at serving "the holistic athletic lifestyle from on-the-field, to the training room, to the street." Both Eastbay and fellow Foot Locker brand Champs Sports will sell the line in stores and online. Foot Locker said the new private label will roll out seasonally into 2022 and also include women's and kids collections.
It features compression items for performance, "gymtech" apparel for training, and fleece and hoodies for casual wear, among other things. Eastbay has also secured Philadelphia Eagles Quarterback Jalen Hurts as brand ambassador for the Eastbay Performance line, a first for the company's private labels. Eastbay Performance is also larger in size and scope than previous private label launches.
Private labels have performed powerfully for some retailers, including Target, whose private label activewear brand notched $1 billion in its first year. Dick's Sporting Goods also joins Foot Locker in experimenting with more private labels: The company launched a men's apparel brand dubbed "VRST" in March. It already operates Calia, a women's-focused private label, and DSG, a family-oriented owned brand.
Correction: A previous version of this article misstated Eastbay's history with private labels. The article has been updated to include additional details from the company about the Eastbay Performance line.