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 an $775 safety pin to J. Jill’s first chief growth officer, here’s our closeout for the week.
What you missed
Walmart to transfer stock listing from NYSE to NASDAQ
Walmart will begin trading on the The Nasdaq Stock Market starting Dec. 9, transferring its WMT ticker symbol from the New York Stock Exchange. Nine of its bonds will also be transferred, per a Thursday press release.
The mass retailer said the move “underscores the strong alignment between Walmart and Nasdaq's shared values,” which include a technology-forward approach.
The move was said to be more than symbolic, according to an emailed note from Jefferies analysts Thursday.
“It signals a strategic alignment with the tech-heavy exchange and positions the company for inclusion in the Nasdaq 100, a move that could attract incremental passive inflows from index-tracking funds,” the analysts led by Corey Tarlowe said.
J. Jill names first chief growth officer
Apparel brand J. Jill named Viv Rettke as its first chief growth officer effective Wednesday, per a company press release. She most recently served as chief strategy and transformation officer at Cole Haan.
The executive will be responsible for DTC performance and lead the company’s AI initiatives, among other tasks. She will report directly to CEO and President Mary Ellen Coyne.
“She has a proven ability to accelerate business growth at leading companies in fashion and other consumer industries,” Coyne said in a statement. “We’re confident her deep expertise across brand building, corporate strategy, business transformation, and retail sales and operations will help us realize the untapped potential to expand our customer file and unlock new efficiencies and market opportunities.”
Retail therapy
Pins and (stabbing) needles
In a craft version of “let them eat cake” Prada recently came out with a Crochet Safety Pin Brooch. The brass pin has cotton thread wrapped around it, sports the signature Prada logo triangle via charm and retails for $775 at Neiman Marcus.
There are a number of luxury safety pin moments found in fashion, perhaps most exquisitely demonstrated by the black Versace dress worn by Elizabeth Hurley in 1994. However, in a particularly challenging economic year (tariffs, inflation, layoffs and the temporary loss of SNAP benefits), for some, the item reads as particularly tactless.
One reviewer has latched on to that sentiment, with a one-star review of the item titled “$700 for a preschool craft project, nailed it!” stating, “Finally, a way to say ‘I have more money than sense, and also zero understanding of fashion.’”
What we’re still thinking about
10 minutes
That’s Michaels’ promise for how long it will take to turn around a custom framing order. The craft retailer rolled out the initiative this week in more than 500 stores and said it would be available chainwide by February. The $29 in-store service allows shoppers to convert a digital photo into a gift-wrapped, printed and framed keepsake, with the choice of two frame sizes, four finishes and the option to add a mat board.
"As the only retailer to offer a service of this speed and convenience, our 10-Minute Custom Framing is transforming how customers think about quick, beautiful personalization," Chief Operating Officer Nicholas Bertram said in a statement. "This service is fast, truly hassle-free, and delivers incredible value. It's the perfect one-stop solution for a thoughtful last-minute present or a simple way to instantly personalize any space."
What we’re watching
October discretionary volumes down from last year as the holidays launch
The government shutdown ended about a week ago, but not in time for the U.S. Department of Commerce to release its retail trade numbers — the second month without a report. Other organizations fill the gap, though analysts say alternatives are not as solid as the official statistics.
The National Retail Federation, which bases its estimates on credit and debit card data, calculated that October retail sales — minus restaurants, autos and fuel — rose 4.9% year over year. Inflation appears to be fueling some of that, as Circana found discretionary general merchandise dollar sales, in the four weeks before Nov. 1, to be down 1% year over year, as unit demand fell 4%.
It’s clear that consumer stamina is being tested, according to Marshal Cohen, Circana chief retail industry adviser. The firm expects holiday spending to land between a 1% decline and 2% increase, but volumes to decline by as much as 2.5% during November and December.
“Early shopping behavior will influence the balance of the holiday season, so marketers need to put their best foot forward now in order to capture their share of a discerning market,” Cohen said in a statement.
You can catch up on past retail trade reports by reading Retail Dive's sales tracker here.
