The Latest
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Retrieved from Bain Capital on June 21, 2022
Signet buys Blue Nile for $360M
The deal adds to the jewelry retailer’s luxury portfolio as the retailing climate worsens against the macroeconomic backdrop.
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Courtesy of Stitch Fix
Retail disruptors are turning to layoffs to cut costs and restructure
New companies have grown rapidly by leveraging consumer trends during the pandemic. Now, they’re paying the price amid an economic downturn.
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Courtesy of Shopic
Smart cart tech firm Shopic bags $35M in funding
The Israeli startup plans to expand the deployment of its automated checkout technology, which attaches to standard shopping carts, among grocers in the Americas, Europe and Israel.
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Cara Salpini/Retail Dive
Allbirds sunsets leggings offering amid ever-widening losses
Layoffs a couple of weeks ago may be just the start as the brand adjusts its sales model and its merchandise mix in pursuit of profitable growth.
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Kaarin Vembar/Retail Dive
Class action alleges PetSmart training agreement trapped groomers in debt
The agreement required groomers to work two years for the company or pay back the $5,000 training value.
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Permission granted by Under Armour
Why running brands are finally making shoes for women
As the sport rises in popularity, brands are breaking from tradition and investing in running shoes that are actually manufactured for a woman’s foot.
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Justin Sullivan via Getty Images
Supply chain exec joins Tupperware as company pursues turnaround
Jim Van Ingen will lead the company's manufacturing, procurement and distribution teams to reduce costs.
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Courtesy of Abercrombie & Fitch
Abercrombie & Fitch launches ‘getaway’ store design concept
The retailer wants to make every day feel like the start of a long weekend with a store aesthetic that is a “nod to a chic hotel lobby.”
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Courtesy of Shopify
ColumnThe Weekly Closeout: Shopify makes a $100M investment and Jane Fonda fronts campaign for H&M’s Move line
Days after Shopify laid off 10% of its workforce it announced an investment in Klaviyo, while H&M launched a new brand with the help of a fitness icon.
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Courtesy of Walmart
Walmart acquires omnichannel tech specialist Volt Systems
The deal comes with new talent and technology aimed at vendor management, seamless shopping and anticipating demand.
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Daphne Howland/Retail Dive
The Body Shop expands delivery partnership with Uber
Seventy-five stores will make over 2,000 products available for same-day delivery through the Uber Eats app.
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Under Armour founder Kevin Plank on what the brand’s next CEO needs to do
“Drive love for the [Under Armour] brand and the rest will follow,” the founder said on an earnings call earlier this week.
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Courtesy of Kohl's
Cowen downgrades Kohl’s as middle-income shoppers spend less on apparel
The retailer and its peers could lose share to discounters as their customers get squeezed by rising prices and cut back on clothing purchases.
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AndreyPopov via Getty Images
US online retail sales to reach $1.6 trillion by 2027: report
Total retail sales are expected to reach $5.5 trillion by that same year, according to Forrester
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Kendall Davis/Retail Dive
Fallen unicorns: 9 retailers that have recoiled from sky-high valuations
After reaching or eclipsing the billion-dollar mark, these companies have tumbled back to earth — or disappeared.
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Courtesy of Fast Retailing
GU to open first store in US
The Uniqlo sister brand will launch a pop-up in New York City this fall.
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Courtesy of Tapestry
Tapestry combines COO, CFO roles
The company announced the retirement of COO Tom Glaser, and said Scott Roe will be taking on the title in addition to his current position as CFO.
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Joe Raedle via Getty Images
As inflation bites, retailers cut guidance
Since June, at least four major retailers have made significant updates to their financial outlooks.
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Permission granted by Chewy
Chewy expands insurance offering with launch of CarePlus
Following others in the sector, the retailer is leaning deeper into service offerings to maintain loyalty with consumers.
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Courtesy of iRobot
Amazon to acquire iRobot for $1.7B
The news means the retailer will have another pathway into the homes of consumers, adding to its existing portfolio of technology.
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Ben Unglesbee/Retail Dive
ColumnThis is the last Sears for hundreds of miles. What can it tell us about the state of malls?
The department store in Maryland is sparsely merchandised and low on traffic. Senior Reporter Ben Unglesbee takes a look inside to see how retail has changed since the heyday of malls.
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Courtesy of ThredUp
ThredUp hires first chief marketer in years
Noelle Sadler joins the company from Lulus and will focus on raising brand awareness and acquiring more young shoppers.
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Wayfair back in the red in Q2 as customers quit
The furniture e-retailer is doing even worse than the overall sector, which has seen demand drop following a pandemic-related surge.
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Courtesy of Lululemon
ColumnThe Weekly Closeout: Lululemon launches its third shoe and Williams Sonoma’s president resigns
The new Chargefeel cross-training shoe comes in 14 colorways, and Ryan Ross will be replaced by former Chief Marketing Officer Felix Carbullido.
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Torrid hires Guitar Center vet as COO, CFO
Tim Martin was named to the dual position, while the company also announced a new CTO.
