{"id":13066,"date":"2024-08-02T16:19:05","date_gmt":"2024-08-02T16:19:05","guid":{"rendered":"https:\/\/dmsretail.com\/RetailNews\/the-weekly-closeout-fred-segal-closes-remaining-stores-and-foxtrot-plots-its-comeback\/"},"modified":"2024-08-02T16:19:05","modified_gmt":"2024-08-02T16:19:05","slug":"the-weekly-closeout-fred-segal-closes-remaining-stores-and-foxtrot-plots-its-comeback","status":"publish","type":"post","link":"https:\/\/dmsretail.com\/RetailNews\/the-weekly-closeout-fred-segal-closes-remaining-stores-and-foxtrot-plots-its-comeback\/","title":{"rendered":"The Weekly Closeout: Fred Segal closes remaining stores and Foxtrot plots its comeback"},"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\">8 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\/v1722612598\/news\/text_to_speech\/the-weekly-closeout-fred-segal-closes-stores-foxtrot-comeback_hmn6is.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 <span><span><span><span><span><span>Babies R Us shop-in-shops at Kohl\u2019s<\/span><\/span><\/span><\/span><\/span><\/span>\u00a0to <span><span><span><span><span><span><span><span>Ikea\u2019s Sleepeasy pop-up events in New York City,<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span> here\u2019s our closeout for the week.<\/p>\n<h3 class=\"standard-heading\"><span>What You May have missed:<\/span><\/h3>\n<p><span><span><span><span><em><span>Foxtrot inches closer to a comeback<\/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>abruptly ceasing operations<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span>, shuttering its stores and <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>filing for bankruptcy<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\u00a0this spring<span><span><span><span><span><span>, Foxtrot on Tuesday took to its Instagram to announce its comeback.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cThree months after the unexpected closing of all the Foxtrot stores, a group of us former Foxtrot team members are banding together to bring back the original concept,\u201d <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>the post read<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span>, noting that the decision to shutter \u201cwas not ours.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>The company said it is returning to its roots \u2014 prioritizing the best products, serving coffee and connecting with small brands. Foxtrot in its post also said it is \u201cwelcoming\u201d its team back.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cWe can\u2019t make everything right from the past, and we know there\u2019s work to be done. But we also know opening our doors again is the best way to provide the most opportunities for all,\u201d the post read. \u201cThis is the original Foxtrot and we look forward to serving you soon.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Foxtrot Market in June said it was <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>planning to reopen several locations<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> in Chicago, Dallas and Austin this summer led by Foxtrot founder Mike LaVitola.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><em><span>Winky Lux secures majority investment<\/span><\/em><\/span><\/span><\/span><\/span><span><span><span><span><span><span>\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Beauty brand <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>Winky Lux on Tuesday announced it landed a majority investment<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> from private equity firm Core Industrial Partners.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>While specific terms of the deal were not disclosed, the brand said the investment will help it accelerate growth and expand its market reach. The deal will also help fund Winky Lux\u2019s digital and physical expansion, according to a company press release.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cJoining forces with Core is an exciting next step for Winky Lux. This partnership enables us to meet customer demand, scale our operations, maximize existing retailer partnerships with Target, Ulta and Shoppers Drug, and reach new heights in product innovation,\u201d Winky Lux CEO and co-founder Natalie Mackey said in a statement. \u201cWe\u2019re confident Core\u2019s experience and resources will help us achieve our long-term goals while staying true to our brand values of joy and creativity.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><em>Los Angeles fashion loses a retail icon as Fred Segal closes its last stores<\/em><\/p>\n<p>Legendary Los Angeles apparel retailer Fred Segal has shuttered its remaining stores,\u00a0Global Icons founder Jeff Lotman confirmed to Retail Dive Thursday. Brand management firm Global Icons acquired Fred Segal in 2019, and Lotman saw potential in the brand\u2019s enduring L.A. vibe, believing it appealed to fashionistas of all ages and could grow via e-commerce and international expansion.<\/p>\n<p>Lotman declined to answer further questions, including what led to the closures or whether Fred Segal\u2019s intellectual property would be put up for sale. Global Icons was left to operate the retailer, which the Los Angeles Times reports was not the original plan. The idea may have been to follow the blueprint at brand management giant Authentic Brands Group, which outsources operations to other companies, a model Authentic founder Jamie Salter has pointed to  as a major advantage.<\/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>Ikea to host \u2018Sleepeasy\u2019 pop-up in NYC<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Ikea U.S. on Tuesday announced an <span><span>immersive pop-up experience,\u00a0dubbed the Ikea Sleepeasy, in New York City\u2019s SoHo neighborhood<\/span><\/span> to promote the company\u2019s latest product line. The new assortment includes mattresses, comforters, temperature regulating bedding, air purifiers and more.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>A play on the speakeasy concept, attendants enter the Ikea pop-up through a hidden door in a Swedish bodega. This door takes them to a multi-level exhibit that features the \u201csix sleep essentials\u201d of comfort \u2014\u00a0light, temperature, sound, air quality and decluttering. The immersive experience includes live music, Ikea food, silent discos and more.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>The Ikea Sleepeasy is free and open to the public from Aug. 8 to Aug. 11 and then again from Aug. 15 to Aug. 18.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><em><span>Skechers teams up with John Deere<\/span><\/em><\/span><\/span><\/span><\/span><span><span><span><span><span><span>\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\" alt=\"Three shoes lying on their sides in a line with Skechers and John Deere branding.\" data-imagemodel=\"163879\" src=\"https:\/\/www.retaildive.com\/imgproxy\/r_PcAemlN2ncCRTesdPVx9kp21v4esEjGnO0Zxtf0Tg\/g:ce\/rs:fit:1600:0\/bG9jYWw6Ly8vZGl2ZWltYWdlL1NrZWNoZXJzX3hfSm9obl9EZWVyZV9LaWRzX1N0eWxlLmpwZw==.webp\"\/><\/div>\n<\/div><figcaption class=\"inside_story_caption\">\n<p>Courtesy of Business Wire<\/p>\n<p>\u00a0<\/p>\n<\/figcaption><\/figure>\n<p><span><span><span><span><span><span>For customers that want to feel rugged and comfortable at the same time, <span><span>Skechers this week announced its new collection with John Deere<\/span><\/span>.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<section class=\"storylines-carousel-wrapper hide-small show-large\" id=\"desktop-carousel\"\/>\n<p><span><span><span><span><span><span>The line is designed for everyone from agricultural and construction workers to \u201coutdoor enthusiasts\u201d and \u201cfashion-minded individuals,\u201d per a Thursday press release. The first capsule collection includes several styles for men and a children\u2019s line which features tractor-inspired designs.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span><span><span>Skechers this week also announced Los Angeles Sparks forward Rickea Jackson would join as the brand\u2019s first WNBA ambassador.<\/span><\/span>\u00a0Skechers last fall <span><span>signed NBA players Julius Randle and Terance <\/span><\/span><span><span>Mann as brand ambassadors. T<\/span><\/span>he company, known for its comfort footwear, entered the basketball space with the launch of two new shoes just a couple of months after <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>entering the soccer cleats space<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span>.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<h3 class=\"standard-heading\"><span><span><span><strong><span><span>What We\u2019re Still Thinking About<\/span><\/span><\/strong><\/span><\/span><\/span><\/h3>\n<p><span><span><span><span><em><span>200<\/span><\/em><\/span><\/span><\/span><\/span><span><span><span><span><span><span>\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\" alt=\"A Babies R Us shop in shop at a Kohl&amp;#x27;s store.\" data-imagemodel=\"163860\" src=\"https:\/\/www.retaildive.com\/imgproxy\/Jfz16xOiK5wNrL3HFcUkLl1vGcSuKMAiiFrsiURMisQ\/g:ce\/rs:fit:0:860\/bG9jYWw6Ly8vZGl2ZWltYWdlL2NvcnBfYnJ1XzJ4MS5qcGc=.webp\"\/><\/div>\n<\/div><figcaption class=\"inside_story_caption\">\n<p>Courtesy of Kohl&#8217;s<\/p>\n<p>\u00a0<\/p>\n<\/figcaption><\/figure>\n<p><span><span><span><span><span><span>That\u2019s how many Babies R Us shop-in-shops will open in Kohl\u2019s by this fall. The department<\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><strong><span><span> <\/span><\/span><\/strong><\/span><\/span><\/span><span><span><span><span><span><span>store this week <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>gave a glimpse<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span>\u00a0into the store layout, and stated that locations will have thousands of new products across 90 brands. Kohl\u2019s existing baby assortment will be directly adjacent to Babies R Us, and while shop-in-shops will be in select locations items can be purchased online.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><em><span>$400,000<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>That\u2019s the amount of a retention bonus Joann\u2019s Chief Financial Officer Scott Sekella received in March. The bonus was subject to repayment in the event Sekella\u2019s employment with the company was terminated, either voluntarily or with cause, within six months of being awarded. That amount <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>must now be repaid<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> since the CFO left the company this week. The retailer said in a press release that <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>Sekella\u2019s departure <\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span>was \u201cnot related to any disagreements with Joann regarding the company\u2019s financial statements or accounting policies or practices.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<section class=\"storylines-carousel-wrapper show-small hide-large\" id=\"mobile-carousel\"\/>\n<h3 class=\"standard-heading\"><span><span><span><strong><span><span>What We\u2019re Watching<\/span><\/span><\/strong><\/span><\/span><\/span><\/h3>\n<p><em><span><span><span><span><span>Tractor Supply breaks its silence<\/span><\/span><\/span><\/span><\/span><\/em><\/p>\n<p><span><span><span><span><span><span>In the weeks since abruptly yanking its diversity team and scrapping its climate goals, Tractor Supply didn\u2019t comment on social media or return reporters\u2019\u00a0follow-up questions regarding the changes. The move, widely seen as appeasing an \u201canti-woke\u201d protest, upset other constituencies within its customer base. But company executives last week did take questions from analysts regarding their decision during the company\u2019s Q2 earnings call.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span>When asked about any fallout from the controversy, CEO Hal Lawton said the company \u201c<\/span>certainly heard a range of feedback,\u201d but that \u201cwe have no evidence that it had a measurable impact on our business.\u201d<\/p>\n<p>Net sales in Q2 rose 1.5% to $4.25 billion, and comps declined. Those results don\u2019t reveal much, though, as Tractor Supply\u2019s statement withdrawing its corporate policies came two days before the quarter ended. The company continues to \u201cmonitor the situation and look at a variety of datasets,\u201d Lawton said.<\/p>\n<\/p><\/div>\n<p><script async defer src=\"https:\/\/platform.instagram.com\/en_US\/embeds.js\"><\/script><br \/>\n<br \/><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 8 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":13067,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-13066","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/13066","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=13066"}],"version-history":[{"count":0,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/13066\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media\/13067"}],"wp:attachment":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media?parent=13066"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/categories?post=13066"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/tags?post=13066"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}