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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 Staples knocking down prices for small businesses to Guitar Center partnering with Shark Tank contestants, here\u2019s our closeout for the week.<\/p>\n
What you may have missed<\/h3>\n Could Nike\u2019s struggles boost Foot Locker?<\/em><\/p>\nNike on Thursday reported Q2 earnings, with revenue falling 8% to $12.4 billion. Although the sportswear giant is struggling under the weight of a DTC strategy that went too far, Needham analyst Tom Nikic said in a client note earlier this week that the brand\u2019s challenges could mean good things for Foot Locker in the long term.<\/p>\n
\u201cWe don’t believe that NKE has turned the corner from a brand-heat perspective yet, but what we think is more important to FL is what NKE is doing strategically,\u201d Nikic wrote. \u201cRecognizing the mistake of over-emphasizing DTC and under-emphasizing Wholesale, NKE is now working more closely with FL, and we believe that NKE will speak positively about their strengthened relationship with their biggest wholesale partner, Foot Locker.\u201d\u00a0<\/p>\n
Indeed, on a call with analysts\u00a0Thursday, new CEO Elliott Hill called out Foot Locker specifically as one of the partners he had spoken directly with since taking over in October, and highlighted a broader strategy of rebuilding relationships with key wholesale partners.<\/p>\n
Nikic also said that Nike\u2019s efforts to clean up its distribution channels will benefit Foot Locker in the long term \u201cto a greater extent than any other retailer.\u201d<\/p>\n
Foot Locker itself has been going through a host of challenges under its turnaround strategy, including from Nike\u2019s pullback a few years ago, but sales fell just 1.4% in its latest quarter.<\/p>\n
Toys R Us to debut in Latin America and the Caribbean<\/em><\/p>\nWHP Global, parent company of Toys R Us and Babies R Us, on Monday announced a partnership with Cotton Candy International to bring those brands to Latin America and the Caribbean for the first time.\u00a0<\/p>\n\n\n
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\nImage courtesy of WHP Global<\/p>\n
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The first Toys R Us and Babies R Us flagship stores will open in Panama next year, with more stand-alone stores to soon follow across the region, according to a press release.\u00a0<\/p>\n
“Toys R Us continues to captivate consumers around the world, and we are thrilled to partner with a strong wholesale and retail operator like Cotton Candy International to introduce this beloved brand to families in Latin America for the very first time,” Stanley Silverstein, chief commercial officer at WHP Global, said in a statement.<\/p>\n
Perfect Moment faces NYSE delisting<\/em><\/p>\nLuxury skiwear brand Perfect Moment on Tuesday received a warning from the New York Stock Exchange notifying it that it was no longer in compliance with its minimum stockholders\u2019 equity requirements.<\/p>\n
The stock market requires stockholders\u2019 equity of at least $4 million if the company has reported operating losses or net losses in three of the past four fiscal years. Perfect Moment had a stockholders\u2019 equity of $2.7 million as of Sept. 30.<\/p>\n
The brand has until Jan. 10 to submit its plan to regain compliance and until June 11, 2026, to meet the market\u2019s listing standards<\/p>\n
Retail therapy<\/h3>\n Beanie Babies get some bounce<\/em><\/p>\nToy company Ty Warner launched a new spin on its iconic Beanie Babies ahead of the holidays. The four-inch Beanie Bouncers are plush toys that also act like a bouncing ball. Available in specialty stores nationwide, the new toy retails for $5.99.<\/p>\n
The Beanie Bouncers come in 12 initial characters including Gilbert the giraffe, Purry the cat, Fins the shark, Buzzy the bee and Swish the axolotl, among others.\u00a0<\/p>\n
Beanie Bouncers toys will be featured in a snow globe display at the exterior of the Sphere in Las Vegas through Sunday.\u00a0<\/p>\n
Guitar Center strikes new chord with pick company partnership <\/em><\/p>\nThe visibility afforded by an appearance on the TV show \u201cShark Tank\u201d helped propel a new product into Guitar Center.<\/p>\n
Nicholas George and Kevin Mack co-founded guitar pick company Tik Pik. Their design keeps picks, an essential and often ubiquitous accessory, attached to a guitar and within easy reach of the musician when playing the instrument. In partnership with Guitar Center, the product is now available in over 300 physical Guitar Center stores and online.\u00a0<\/p>\n
Guitar Center said in a press release that the Tik Pik features technology that allows them to adhere to your guitar without adhesive. They\u2019re available in a variety of weights to suit various playing styles. Tik Pik and Guitar Center also worked together to develop and offer an exclusive SKU that features a six pack of Tik Piks.<\/p>\n\nWhat we\u2019re still thinking about<\/h3>\n 600+\u00a0<\/em><\/p>\nThat\u2019s how many items Staples will cut prices on in January, aimed at helping small businesses. The retailer\u2019s Home and Office Sale will have deals across tech, office supplies, furniture and other categories, according to a Tuesday announcement.<\/p>\n
\u201cStaples is dedicated to helping small businesses grow by providing value and savings on the products and services that matter most,\u201d Marshall Warkentin, president of Staples U.S. Retail, said in a statement. \u201cWith price reductions across a wide range of essentials, our Home and Office Sale is designed to help businesses start 2025 on the right foot and ensure they have what they need to succeed.\u201d<\/p>\n
Deals include up to $320 off select computers, up to $150 off select printers and $15 off print orders of $75 or more.<\/p>\n
$1.3B<\/em><\/p>\nThat\u2019s how much Walmart is investing in Walmart Chile over the next five years, according to a Monday announcement. The investment includes opening 70 new stores,\u00a0expanding into new regions of Chile and opening a ninth distribution center in the Southern part of the country.\u00a0<\/p>\n
\u201cThis is not just an investment in infrastructure and technology; it is an investment in people, in communities,\u201d\u00a0 Walmart Chile President and CEO Cristi\u00e1n Barrientos said in a statement. \u201cWe are building a better future for everyone, for future generations and for our children. We trust in Chile. We trust in its people. We continue exploring together.\u201d<\/p>\n
What we\u2019re watching<\/h3>\n New NRF crime stat tracks with less established FBI database, a \u2018coincidence\u2019<\/em><\/p>\nThis week the National Retail Federation released a survey of loss prevention officers at 164 retailers, focused solely on crime, in lieu of the annual National Retail Security Survey it had conducted for over 30 years.<\/p>\n\nThe new study \u2014 the first on crime since the group retracted a statistic from a special report last year \u2014 contains some eye-watering numbers. That includes \u201ca 93% increase in the average number of shoplifting incidents per year in 2023 versus 2019 and a 90% increase in dollar loss due to shoplifting during that same time period.\u201d Those surveyed also noted a 26% increase in shoplifting from 2022 to 2023.<\/p>\n
One statistic from the FBI tracks with the NRF\u2019s finding on shoplifting, but there\u2019s a major caveat.<\/p>\n
An older crime database, the National Incident-Based Reporting System, or NIBRS,\u00a0also shows shoplifting rates up 93%\u00a0from 2019 to 2023. However, the law enforcement agency has another more established database (the Summary Reporting System) that shows those two years about even.<\/p>\n
NIBRS\u2019s spike is not entirely due to actual crime rates, but, rather, also reflects the ongoing addition of new sources of crime statistics. This makes the Summary more accurate for now, CCJ Senior Research Specialist Ernesto Lopez said last month.<\/p>\n
When asked about the parallel between the NIBRS and NRF numbers, NRF spokesperson Mary McGinty said by email that the new report was \u201cbased on data provided by retailers\u201d and that the similarity of the numbers \u201cis a coincidence.\u201d<\/p>\n<\/p><\/div>\n
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 […]<\/p>\n","protected":false},"author":1,"featured_media":14447,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-14446","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\/14446","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=14446"}],"version-history":[{"count":0,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/14446\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media\/14447"}],"wp:attachment":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media?parent=14446"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/categories?post=14446"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/tags?post=14446"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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