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It\u2019s 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\u2019re still thinking about.<\/p>\n
From a Liquid Death beauty tie-up to a possible good omen at Nike, here\u2019s our closeout for the week.<\/p>\n
What you may have missed<\/h3>\n Overstock.com is back in business, partnership with X planned <\/span><\/em><\/span><\/span><\/span><\/span><\/p>\nBeyond Inc. has relaunched Overstock.com. In a Thursday announcement<\/span><\/span>, the company said the site is offering \u201ccrazy good deals\u201d of up to 30% to 70% off. The online retailer will include categories of furniture, rugs and jewelry, and in the coming months,\u00a0it plans to add additional product categories.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n\u201cThe relaunch of Overstock.com comes at a time of significant growth and innovation for the company, as it continues to expand its product offerings, invest in technology, and put our customers and vendors as our priority,\u201d Beyond Inc.\u2019s executive chairman Marcus Lemonis said in a statement.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\nAlso this week, Beyond, whose portfolio includes Bed Bath & Beyond and Zulily, said it has entered a strategic partnership with social media platform X, formerly known as Twitter. The company said Wednesday<\/span><\/span> that the deal will generate custom short- and long-form content for Beyond, develop customer acquisition and retention strategies, and highlight the retailer\u2019s brands on events and holidays.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\nA positive sign for Nike\u2019s innovation pipeline?<\/em><\/p>\nNike\u2019s promise to return to its product innovation roots could be off to a good start, according to a Wedbush analyst note. The analysts, led by Tom Nikic, noted that Nike\u2019s Air Max DN debuted in multiple colorways on Tuesday and sold out on the retailer\u2019s website.\u00a0<\/p>\n
That comes after a somewhat somber earnings call last week in which Nike CEO John Donahoe said the business was \u201cnot performing at our potential\u201d\u00a0and announced a series of strategy pivots to get the brand back on track. Among them was a plan to accelerate product innovation, including by investing more in design, product creation and other departments, as well as pulling forward some product innovations by more than a year.<\/p>\n
A solid innovation pipeline is doubly important for Nike right now, since the company is facing headwinds around some of its older styles, Nikic said. The sellout of the Air Max DN could be a good omen since Nike \u201chas been off their game\u201d for a while and \u201cdesperately need a hot new product,\u201d according to Nikic. The analyst noted that it was also product innovation that got Nike out of its last rut around 2016.<\/p>\n
\u201cThus, we see the successful initial launch as a positive data point for the brand,\u201d Nikic said. \u201cWe’d note, however, that for a company of [Nike]’s size (over $50 billion of revenue annually), one sneaker won’t move the needle all that much, so they will need to continue bringing innovative new products to the market.\u201d\u00a0<\/p>\n
Miniso opens second Times Square location<\/em><\/p>\n\n\n
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\nMiniso\u2019s pop-up shop features collaborations with Snoopy, Winnie the Pooh and Minions, among others.<\/p>\n
Courtesy of Miniso<\/p>\n
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Miniso opened a pop-up shop in New York City\u2019s Times Square\u00a0next to the Disney store on Saturday, according to a press release. This is the brand\u2019s second location in the shopping district after opening its first Times Square global flagship in May last year.<\/p>\n
“We’re thrilled to be opening this new pop-up in Times Square,” Miniso U.S. general manager Tyrone Li said in a statement. “Our flagship store here has been a massive hit, breaking numerous brand records and proving a popular addition for Miniso joy-seekers. This new pop-up is a playful and innovative reimagining of our ‘Joy Philosophy’ that highlights our outstanding range of IP products and is sure to add even more energy to this buzzing location.”<\/p>\n
The new location features plushies from collaborations like Sanrio, Snoopy, Winnie the Pooh and Minions. The pop-up has already reached record sales figures in the three weeks since its initial soft opening early March,\u00a0according to the company.<\/p>\n
The second Times Square location achieved the highest sales per square-foot record among all the U.S. stores, with its sales performance ranking in the top three. In December, Miniso opened its 100th store in the U.S. The company now operates120 stores in over 20 states.\u00a0<\/p>\n\nRetail Therapy<\/h3>\n Lilly Pulitzer adds 3 collections at Pottery Barn<\/em><\/p>\nPottery Barn plans to introduce three new collections in collaboration with Lilly Pulitzer.\u00a0The collections will include outdoor accessories, towels, bedding, decor and some furniture, the company said Tuesday. All of the items will be available exclusively at Pottery Barn, Pottery Barn Kids and Pottery Barn Teen.<\/p>\n
The new collections feature Lilly Pulitzer\u2019s signature playful colors and patterns, and they\u2019re produced with sustainably made materials. The collection also includes outdoor towels, pillows and pool loungers. The collections are available now in Pottery Barn brands\u2019 online stores.<\/p>\n
\u201cWe\u2019re thrilled to expand upon our partnership with the iconic Lilly Pulitzer brand for all ages of Pottery Barn brand customers,\u201d Pottery Barn Brands CEO Marta Benson said in a statement. \u201cBuilding on the success of our debut collaboration in 2018, our teams have come together to deliver new collections that celebrate the resort-style luxury and fun spirit of the beloved Lilly Pulitzer lifestyle.\u201d<\/p>\n
Last week, Lilly Pulitzer and Badgley Mischka announced a collab on a seven-piece capsule collection of dresses ranging from $485 to $715 that were set to debut this week through both brands\u2019 online stores, along with some Lilly Pulitzer stores and Badgley Mischka\u2019s two boutiques.<\/p>\n
Liquid Death and E.l.f. Cosmetics release coffin makeup collection<\/em><\/p>\n\n\n
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\nThe set includes a setting spray, lipstick, eyeshadow, waterproof eyeliner pen and putty applicator.<\/p>\n
Courtesy of E.l.f. Cosmetics, Liquid Death<\/p>\n
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E.l.f. Cosmetics newest makeup collaboration is what some might say is to die for. E.l.f. and beverage brand Liquid Death on Tuesday launched a limited-edition, black-metal inspired makeup collection, according to a press release. Valued at $34, the Corpse Paint Vault includes five items and comes in a keepsake coffin.<\/p>\n\n\u201cWhen you set out to create a different kind of company, it’s important to align yourself with like-minded kindred spirits. We are both challenger brands on a one-way path to disruption,” E.l.f. Beauty’s Chief Marketing Officer Kory Marchisotto said in a statement. \u201cE.l.f. and Liquid Death share a passion for self-expression and unexpected creativity. We\u2019ve had a lot of fun \u2014\u00a0and a lot of laughter \u2014\u00a0bringing Corpse Paint to life. Pun intended.\u201d<\/p>\n
To create the corpse paint look, E.l.f\u2019s set includes its matte setting spray, its satin lipstick in the shade All Night, the no budge cream eyeshadow in Wispy Cloud, its waterproof eyeliner pen and putty applicator.<\/p>\n
What we\u2019re still thinking about<\/h3>\n $73B<\/em><\/p>\nThat\u2019s what ThredUp predicts the secondhand market in the U.S. will reach by 2028. That figure is notably less than the resale platform\u2019s prediction last year of the market reaching $82 billion by 2026. ThredUp also predicts that the global secondhand apparel market will reach $350 billion by 2028, according to its latest resale report.<\/p>\n
In 2023, the used clothing market in the U.S. reached $43 billion. That compares to about $23 billion in 2018.\u00a0<\/p>\n
$18.25B<\/em><\/p>\nThat\u2019s how much The Home Depot intends to pay to acquire building product supplier SRS Distribution. The deal is expected to close at the end of this fiscal year.<\/p>\n
Home Depot said the acquisition will allow it to boost business with its pro customers. SRS Distribution currently serves professional roofing, landscaping and pool contractors.<\/p>\n
The acquisition will also grow Home Depot\u2019s total addressable market by $50 billion to reach about $1 trillion, the home improvement retailer said Thursday.<\/p>\n
What we\u2019re watching<\/h3>\n Off-pricers get another boost, this time from Macy\u2019s<\/em><\/p>\nOff-price retailers had a good holiday. Quarterly net sales at TJX, which runs T.J. Maxx, Marshalls, HomeGoods and others, rose 13% year over year to $16.4 billion, with comps up 5% for both the quarter and the year. At Burlington, Q4 net sales rose 13.9% to $3.1 billion, with comps up 2%. And at Ross, net sales in the period rose 15.5% to $6 billion, with comps up 7%.<\/p>\n
All of these companies benefited from an extra week during the holidays, which will disappear this year. But they\u2019ll be getting another boost in 2024, and over the next three years, as Macy\u2019s closes 150 underperforming stores, according to analysts at Jeffries and Earnest Analytics. Both see TJX, and especially its T.J.\u00a0Maxx and Marshalls businesses, as benefiting the most. Jeffries research found significant geographic overlap between TJX and Macy\u2019s stores, and analysts there see \u201ca few billions of dollars of share gain opportunity\u201d for the off-price leader.<\/p>\n<\/p><\/div>\n
Listen to the article 10 min This audio is auto-generated. Please let us know if you have feedback. It\u2019s been another week with far more […]<\/p>\n","protected":false},"author":1,"featured_media":12173,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-12172","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/12172","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/comments?post=12172"}],"version-history":[{"count":0,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/12172\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media\/12173"}],"wp:attachment":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media?parent=12172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/categories?post=12172"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/tags?post=12172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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