{"id":12580,"date":"2024-05-25T05:25:43","date_gmt":"2024-05-25T05:25:43","guid":{"rendered":"https:\/\/dmsretail.com\/RetailNews\/the-weekly-closeout-e-l-f-beauty-reports-1b-in-net-sales-and-wayfair-opens-its-first-large-format-store\/"},"modified":"2024-05-25T05:25:43","modified_gmt":"2024-05-25T05:25:43","slug":"the-weekly-closeout-e-l-f-beauty-reports-1b-in-net-sales-and-wayfair-opens-its-first-large-format-store","status":"publish","type":"post","link":"https:\/\/dmsretail.com\/RetailNews\/the-weekly-closeout-e-l-f-beauty-reports-1b-in-net-sales-and-wayfair-opens-its-first-large-format-store\/","title":{"rendered":"The Weekly Closeout: E.l.f. Beauty reports $1B in net sales and Wayfair opens its first large-format store"},"content":{"rendered":"<p> <p><a href=\"https:\/\/dmsretail.com\/online-workshops-list\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-496\" src=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png\" alt=\"Retail Online Training\" width=\"729\" height=\"91\" srcset=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png 729w, https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90-300x37.png 300w\" sizes=\"auto, (max-width: 729px) 100vw, 729px\" \/><\/a><\/p><br \/>\n<\/p>\n<div>\n<div class=\"text-to-speech\">\n    <button class=\"text-to-speech__button button\"><br \/>\n            <img decoding=\"async\" class=\"text-to-speech__button__icon\" src=\"https:\/\/www.retaildive.com\/static\/images\/audio_icon.svg?482016190122\" alt=\"\"\/><br \/>\n            Listen to the article<br \/>\n            <span class=\"text-to-speech__button__audio-length\">9 min<\/span><br \/>\n    <\/button><\/p>\n<div class=\"text-to-speech__controls\">\n        <audio controls=\"\" class=\"js-text-to-speech\" preload=\"none\"><source src=\"http:\/\/res.cloudinary.com\/dmgi9movl\/video\/upload\/q_1\/v1716563060\/news\/text_to_speech\/weekly-closeout-elf-beauty-1b-sales-wayfair-donald-duck-levi-sonos_r4buhk.wav\" type=\"audio\/mp3\"><\/source><\/audio><\/p>\n<div class=\"text-to-speech__controls__text\">\n            This audio is auto-generated. Please let us know if you have feedback.\n        <\/div>\n<\/p><\/div>\n<\/div>\n<p>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<p>From layoffs at <span><span><span><span><span><span>Careismatic Brands <\/span><\/span><\/span><\/span><\/span><\/span>to <span><span><span><span><span>Donald Duck\u2019s 90th anniversary<\/span><\/span><\/span><\/span><\/span>, here\u2019s our closeout for the week.<\/p>\n<h3 class=\"standard-heading\">What you may have missed<\/h3>\n<p><span><span><span><span><em><span>Wayfair officially opens large-format store in Chicago area<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>After <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>months of anticipation<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span>, <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>Wayfair has opened its first large-format store<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> located in Wilmette, Illinois. The two-story space spans 150,000 square feet compared to its other retail stores, which are typically between 8,000 and 15,000 square feet.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<figure class=\"inside_story\">\n<div class=\"figure_content\">\n<div><img decoding=\"async\" data-imagemodel=\"-1\" src=\"https:\/\/www.retaildive.com\/user_media\/diveimage\/Wayfair_Wilmette_Store.jpg\"\/><\/div>\n<\/div><figcaption class=\"inside_story_caption\">\n<p>Image courtesy of Wayfair<\/p>\n<p>\u00a0<\/p>\n<\/figcaption><\/figure>\n<p><span><span><span><span><span><span>The store has 19 departments, featuring furniture, home decor, housewares, appliances and home improvement products, according to a company press release.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cThe opening of our Wilmette location marks an exciting chapter for Wayfair, reinforcing our position as the premier destination for home goods,&#8221; Liza Lefkowski, vice president of merchandising and stores, said in a statement. &#8220;Our store is thoughtfully designed to be both inspirational and practical, empowering shoppers to create spaces that are just right for them.&#8221;<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>The store offers features like an on-site restaurant, design services and fast delivery.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><em><span><span><span><span><span><span>Sonos to launch headphones<\/span><\/span><\/span><\/span><\/span><\/span><\/em><\/p>\n<p><span><span><span><span><span><span>Sonos makes speakers and soundbars, and is now adding headphones to its product line. The sound company announced on Tuesday in a <span><span>press release<\/span><\/span> that it is entering the massive personal listening category with Sonos Ace, the brand\u2019s first ever-headphones.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<figure class=\"image-right inside_story\">\n<div class=\"figure_content\">\n<div><img decoding=\"async\" alt=\"Sonos enters personal listening category with new headphones\" data-imagemodel=\"159839\" src=\"https:\/\/www.retaildive.com\/imgproxy\/s888-m-uHefMstfkQ3ikWmsE3uEYKW-ufbGsaoOglsU\/g:ce\/rs:fit:1080:720\/bG9jYWw6Ly8vZGl2ZWltYWdlL0RTQ0Y3MTkwLndlYnA=.webp\"\/><\/div>\n<\/div><figcaption class=\"inside_story_caption\">\n<p>Image courtesy of Sonos<\/p>\n<p>\u00a0<\/p>\n<\/figcaption><\/figure>\n<p><span><span><span><span><span><span>Sonos Ace will be available starting on June 5 for $449 in either black or soft white.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cThey\u2019re here! Fans have asked us for years to bring the Sonos experience to headphones \u2014 and we knew our first foray into the category needed to champion the type of innovation and sound experience Sonos has become synonymous with,\u201d Sonos CEO Patrick Spence said in a statement.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><em><span>Careismatic lays off 400 <\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Scrubs maker Careismatic Brands is <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>laying off over 400 employees<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> and closing two distribution facilities, according to a Worker Adjustment and Retraining Notification Act notice obtained by sister publication Supply Chain Dive.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span><span>\u201cWe are taking steps to enhance our distribution model to better meet our business\u2019 needs,\u201d a spokesperson told Supply Chain Dive in an email. \u201cIn connection with this process, we have made the difficult decision to wind down operations at our distribution centers facilities.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span><span>Careismatic has over 2,000 wholesale customers including Walmart. <\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<h3 class=\"standard-heading\"><span><span><span><strong><span><span>Retail therapy <\/span><\/span><\/strong><\/span><\/span><\/span><\/h3>\n<p><span><span><span><span><em><span>9 rivets link 151 years of Levi\u2019s history Levis jeans <\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Levi Strauss &amp; Co. has released a reproduction of its oldest pairs of jeans.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>The company said in a Monday blog post that <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>it\u2019s recreated the 9Rivet<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span>, the oldest pairs of jeans in the Levi\u2019s archives. The 9Rivet has nine rivets instead of the typical 11. Levi\u2019s says the new 9Rivet jeans are a historically accurate recreation that capture all the features of the originals.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>According to the company, they\u2019re made with 9-ounce plain selvedge cone mills white oak denim and feature exposed rivets and an unriveted center-back cinch. Levi\u2019s is offering a limited run of 800 pairs of 9Rivet jeans online, in its app and at select Levi\u2019s stores.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Levi\u2019s marked its 150th anniversary last year. Designers began digging into its apparel archive to recreate the 9Rivet. \u201cOf the various 1870s blue jeans in the Levi\u2019s archives, I always suspected 9Rivet was the oldest,\u201d said Paul O\u2019Neill, the Design director for Levi\u2019s vintage clothing. \u201cAfter confirming it is in fact the oldest we have, we were thrilled to reproduce all of its quirks and details that collectively capture a unique piece of denim history.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><em><span>Oh Phooey! Donald Duck turns 90<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Donald Duck turns 90 in June and <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>Disney on Wednesday announced collection collaborations<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> with brands like Adidas, Asos, Funko and Pandora, among others, to celebrate. Items from the collaborations range from apparel, plushies, watches, shoes and more with many featuring a 90-year milestone logo.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<figure class=\"image-right inside_story\">\n<div class=\"figure_content\">\n<div><img decoding=\"async\" data-imagemodel=\"-1\" src=\"https:\/\/www.retaildive.com\/user_media\/diveimage\/Picture1_UO0z5Hg.jpg\"\/><\/div>\n<\/div><figcaption class=\"inside_story_caption\">\n<p>Image courtesy of Disney<\/p>\n<p>\u00a0<\/p>\n<\/figcaption><\/figure>\n<p><span><span><span><span><span><span>&#8220;Donald Duck&#8217;s relatable and endearing frustrations with everyday life have made him one of the world&#8217;s most famous personalities, so we knew we had to make sure to celebrate him in a big way,&#8221; said Liz Shortreed, senior VP of Disney\u2019s global softlines and global brand strategy, said in a statement. &#8220;We are thrilled to collaborate with some of retail&#8217;s biggest brands to bring fans an array of Donald Duck products like never before.&#8221;<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Disney added that more collections will be revealed throughout the summer.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<section class=\"storylines-carousel-wrapper hide-small show-large\" id=\"desktop-carousel\"\/>\n<h3 class=\"standard-heading\">What we\u2019re still thinking about\u00a0<\/h3>\n<p><span><span><span><span><em><span>$1B<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>That\u2019s what <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>E.l.f Beauty\u2019s net sales reached<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> in its latest fiscal year, representing a 77% year-over-year increase.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>The beauty company\u2019s operating income for the year was $149.7 million, up nearly 120% from the year-ago period, while net income was $127.7 million, up 107%, according to a company press release. For the year ahead, the company expects net sales to be between $1.23 billion and $1.25 billion and adjusted net income to be between $187 million and $191 million.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>The company also announced its Naturium brand, which it agreed to purchase last August for $355 million, will soon enter Ulta Beauty, <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>E.l.f. Beauty CEO Tarang Amin said on a call with analysts<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> Wednesday. Naturium is currently sold in Target, Amazon and its own website.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><em><span>44% \u00a0<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>That\u2019s how much <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>Amer Sports\u2019 technical apparel segment grew by<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> in the first quarter. The category, which is already the largest of the company\u2019s three operating segments, is led by Arc\u2019teryx. That brand alone is producing double-digit new store growth and the segment as a whole opened 19 net new stores in the quarter, according to a company press release.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Revenue for Amer Sports overall was up only 13% to $1.2 billion, due to a 14% decline in the ball and racquet sports segment, \u201cas Wilson continues to be constrained by challenges in its core market compared to strong growth and profitability last year.\u201d The DTC channel expanded 41% in Q1, while wholesale revenues declined 1% across the company\u2019s portfolio. Net income at the company tumbled nearly 64%, to $6.9 million.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<section class=\"storylines-carousel-wrapper show-small hide-large\" id=\"mobile-carousel\"\/>\n<p><span><span><span><span><span><span>\u201cThe momentum behind our strong financial performance has continued through the first quarter of 2024, as we delivered sales and profitability above our guidance,\u201d CEO James Zheng said in a statement. \u201cOur transformation to a brand-direct business model four years ago continues to fuel profitable growth today, and our high-performance technical products are resonating with consumers globally. We are gaining share in the premium sports and outdoor market and are well positioned to deliver another great year in 2024.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<h3 class=\"standard-heading\"><span><span><span><strong><span><span>What we\u2019re watching <\/span><\/span><\/strong><\/span><\/span><\/span><\/h3>\n<p><span><span><span><span><em><span>Foot traffic to surpass pre-pandemic levels by 2025<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Naturally, COVID-19\u2019s shelter-in-place orders meant shoppers were staying at home, leading to a boost in online sales with physical stores temporarily shuttering left and right. But there\u2019s still hope for street retail. A recent report by CBRE suggests that <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>retail foot traffic will surpass pre-pandemic levels by 2025<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span>.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>In 2023, the average monthly foot traffic for 10 prime retail districts recovered to 81% of 2019\u2019s levels, CBRE found.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Physical stores are still needed to drive digital sales. CBRE referenced an ICSC report saying opening stores will temporarily increase a brand\u2019s digital sales by 6.9%. Closing one would decrease online sales by 11.5%<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<\/p><\/div>\n<p><p><a href=\"https:\/\/dmsretail.com\/online-workshops-list\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-496\" src=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png\" alt=\"Retail Online Training\" width=\"729\" height=\"91\" srcset=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png 729w, https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90-300x37.png 300w\" sizes=\"auto, (max-width: 729px) 100vw, 729px\" \/><\/a><\/p><br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Listen to the article 9 min This audio is auto-generated. Please let us know if you have feedback. It\u2019s been another week with far more [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12581,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-12580","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\/12580","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=12580"}],"version-history":[{"count":0,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/12580\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media\/12581"}],"wp:attachment":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media?parent=12580"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/categories?post=12580"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/tags?post=12580"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}