{"id":13333,"date":"2024-09-20T19:01:34","date_gmt":"2024-09-20T19:01:34","guid":{"rendered":"https:\/\/dmsretail.com\/RetailNews\/the-weekly-closeout-retailers-gear-up-for-the-holidays-figs-opens-second-store\/"},"modified":"2024-09-20T19:01:34","modified_gmt":"2024-09-20T19:01:34","slug":"the-weekly-closeout-retailers-gear-up-for-the-holidays-figs-opens-second-store","status":"publish","type":"post","link":"https:\/\/dmsretail.com\/RetailNews\/the-weekly-closeout-retailers-gear-up-for-the-holidays-figs-opens-second-store\/","title":{"rendered":"The Weekly Closeout: Retailers gear up for the holidays, Figs opens second 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\">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\/v1726847672\/news\/text_to_speech\/the-weekly-closeout-retailers-holidays-figs-opens-philadelphia-store_zvxlha.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.\u00a0<\/p>\n<p>From the U.S. Postal Service\u2019s partnership with Toys R Us to Chewy\u2019s adorable holiday countdown for pets,\u00a0here\u2019s our closeout for the week.<\/p>\n<h3 class=\"standard-heading\"><span><span><span><strong><span><span>What you may have missed<\/span><\/span><\/strong><\/span><\/span><\/span><\/h3>\n<p><span><span><span><span><em><span>Post Service partners with Toys R Us to help St. Nick<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>The U.S. Postal service is partnering with Toys R Us to expand Operation Santa.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>The Post Office has accepted letters to Santa from kids and families for over a century. The letters are anonymously made available through a website where individuals or organizations can read them and fulfill someone\u2019s holiday wish. Toys R Us is <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>offering a curated e-commerce site<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> to make gifting through the program easier.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201c[We] are making it easier for individuals and families to spread joy to children in need and make their holiday dreams come true,\u201d said Toys R Us E-commerce Vice President Gary Haas.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Also this year, participants have the option to send gifts using the Postal Service\u2019s newest shipping offering, USPS Ground Advantage, which offers nationwide delivery times ranging from two to five business days.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><em><span>Office Depot adds Hallmark cards, accessories <\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Office Depot is adding <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>an assortment of Hallmark products<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> to its party supply offering, the company said in a Monday announcement. The product offering will include greeting cards for all occasions; gift wrap and accessories; notepads, notecards, and journals; and partyware and decorations.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cWith Hallmark&#8217;s renowned occasions assortment, combined with Office Depot&#8217;s capability to custom print products through our copy and print centers, we are uniquely positioned to be the go-to destination for all of life&#8217;s special moments,\u201d Andrew Tomlin, vice president of print and business services at Office Depot, said in a statement <\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Office Depot has also recently started partnerships with the TSA to offer PreCheck enrollment in collaboration with Telos; an expanded college dorm and school supply offering from Dormify; and PowerUp, a program in partnership with Dun &amp; Bradstreet to offer business owners marketing, data and advertising services.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><em><span>Figs opens second store<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>DTC scrubs brand Figs <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>opened its second store<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> in Philadelphia on Sept. 19, per a press release. The Rittenhouse Community Hub on Walnut Street hosts an embroidery workshop, shopping experience, lounge and caf\u00e9. The company said it is <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>approximately four times larger than its first brick-and-mortar location<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> in Los Angeles.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<figure class=\"inside_story\">\n<div class=\"figure_content\">\n<div><img decoding=\"async\" alt=\"A brand image of Figs new second store.\" data-imagemodel=\"166769\" src=\"https:\/\/www.retaildive.com\/imgproxy\/Sf8zqFHDY321eAGEnBRYGosI0rJ0EmiqzVB-e9S_eiM\/g:ce\/rs:fit:480:321\/bG9jYWw6Ly8vZGl2ZWltYWdlLzRfU3RvcmVfSW50ZXJpb3IuanBn.webp\"\/><\/div>\n<\/div><figcaption class=\"inside_story_caption\">\n<p>Courtesy of Figs<\/p>\n<p>\u00a0<\/p>\n<\/figcaption><\/figure>\n<p><span><span><span><span><span><span>The location for the latest retail experience is within two miles of five healthcare institutions, per the company. Figs\u2019 community hubs were made to \u201creimagine the retail experience by providing healthcare professionals the opportunity to shop for their apparel in a way that never previously existed,\u201d per the brand.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Figs plans to expand on this strategy with more community hub openings set for 2025. Recently, the healthcare apparel brand <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>named a former Lulu exec<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> as its chief financial officer.<\/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>This one goes out to all the good boys out there<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Whether you like it or not, the holidays are right around the corner. Bark, however, is bringing back something that even the holiday-reluctant individuals among us can get behind.<\/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 dog sitting on a lounge chair next to Bark&amp;#x27;s holiday advent calendar.\" data-imagemodel=\"166803\" src=\"https:\/\/www.retaildive.com\/imgproxy\/dPJqKu81rrigTpaV0KDWLncIzh98-3vcd38XT4kNmls\/g:ce\/rs:fit:0:860\/bG9jYWw6Ly8vZGl2ZWltYWdlL0FkdmVudF9DYWxlbmRhcl9MaWZlc3R5bGUuanBn.webp\"\/><\/div>\n<\/div><figcaption class=\"inside_story_caption\">\n<p>Courtesy of Bark<\/p>\n<p>\u00a0<\/p>\n<\/figcaption><\/figure>\n<p><span><span><span><span><span><span>The company, known for its BarkBox and Bark Super Chewer subscription boxes, on Thursday announced the <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>return of its Season\u2019s Sweetings Advent Calendar<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span>. The calendar, which is exclusively available on Costco\u2019s website and its stores, features eight holiday themed toys and 16 treats for dogs.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cWhen the Season\u2019s Sweetings Advent Calendar first launched at Costco, it was their loyal shoppers and engaged social media community that helped drive buzz and excitement around this new holiday offering,\u201d Michael Black, Bark\u2019s chief revenue officer and general manager of consumables, said in a statement. \u201cWe heard about consistent sell-outs from our customers who said shelves couldn\u2019t be restocked fast enough.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><em><span>Bravely barefoot<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>There\u2019s nothing like the comfort of a pair of slippers on a cool day. But a new brand is bravely asking the question, what if you could enjoy that same benefit on the dirty streets of New York City?<\/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\/240814_Brave_Pudding_026_Outdoor_2528_bab73513-e33f-48c1-8696-5909fd9e81f7.webp\"\/><\/div>\n<\/div><figcaption class=\"inside_story_caption\">\n<p>\u00a0<\/p>\n<\/figcaption><\/figure>\n<p><span><span><span><span><span><span>Brave Pudding, a brand named after a housewife in 1776 who <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>threw her pudding down a hill<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> rather than serve it to redcoat soldiers, is using that tale to inspire shoppers in a similar act of bravery: wearing $380 socks outside. The company has named its hero product \u2014 a <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>glorified cashmere sock with a rubber outsole<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> \u2014 the \u201cHampton Strolls,\u201d perhaps an appropriate nod to its price tag.<\/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 shoes come in colors like \u201ccaviar,\u201d \u201cporridge\u201d and \u201chazelnut,\u201d and are aimed at customers who \u201cappreciate refined simplicity and elegance,\u201d according to a product page. Brand founder Sarah Fiszel says the idea for Brave Pudding is to challenge conventional thinking and bring interior comfort outside.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cFor as long as I can remember, I have been customizing my clothes and gluing soles onto my slippers and wearing them outside,\u201d Fiszel says on the brand\u2019s website. Now, though, shoppers can spend nearly $400 for the same experience.<\/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>$985,320 <\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>That\u2019s how much GameStop CEO Ryan Cohen will <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>pay as a civil penalty<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> to settle charges regarding his acquisition of Wells Fargo shares in violation of the Hart-Scott-Rodino Act, according to a release from the Federal Trade Commission. The HSR Act requires companies and individuals to report large transactions over a certain threshold to the FTC and Department of Justice so the agencies can investigate deals prior to close.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Cohen acquired over 562,000 Wells Fargo voting securities, resulting in aggregated holdings that exceeded HSR thresholds, according to the FTC.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><em><span>96.5%<\/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>operating income fell<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> in the second quarter for Vince. The quarter ended for the apparel and accessories company with a total of $1.1 million compared to nearly $33 million in the year-ago quarter, according to a company release. Net sales for the quarter increased almost 7% to $74.2 million year over year. Wholesale sales increased nearly 30%, while direct-to-consumer segment sales decreased 18%.\u00a0<\/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><span>\u201cThe strength in our wholesale channel was driven in part by our ability to fulfill demand earlier than expected and helped to offset softer performance in our direct-to-consumer channel which was impacted by store closures and our strategic decision to continue to pull back on promotional activity,\u201d Vince Interim CEO David Stefko said in a statement.\u00a0<\/span><\/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>Here come the holi-deals<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Four major retailers announced plans for the holiday season this week, including the first slew of holiday sales events in what is becoming an increasingly long season. As has become standard, Amazon\u2019s <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>fall sales event is back<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> in early October, and <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>both Target and Walmart are matching<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> the e-commerce giant\u2019s <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>sales timing with deals of their own<\/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>Best Buy isn\u2019t even waiting until October to give shoppers a head start on the season, teasing a <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>member-exclusive sales event<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> Sept. 27 to Sept. 29, an Apple trade-up event Sept. 30 to Oct. 13 and a \u201cprep for the holidays event\u201d starting Oct. 21, which offers customers discounts on everything \u201cto be the ultimate host\u201d for the season. All four retailers are offering special benefits for loyalty or paid members.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>The surge of announcements is a sign that the holiday season has truly begun and likely portends a larger flood of retailer event notices to come. Bankrupt retailer <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>Big Lots beat them all to the punch last week<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span>, though, with the commencement of its \u201cBlack Friday Fridays\u201d on Sept. 13.<\/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 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":13334,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-13333","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\/13333","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=13333"}],"version-history":[{"count":0,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/13333\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media\/13334"}],"wp:attachment":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media?parent=13333"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/categories?post=13333"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/tags?post=13333"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}