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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.\u00a0<\/p>\n
From heart-shaped pasta to Funko\u2019s new senior vice president of brand,\u00a0here\u2019s our closeout for the week.<\/p>\n
What you may have missed<\/h3>\n Foot Locker names Sonia Syngal to board of directors<\/em><\/p>\nFoot Locker on Tuesday announced two additions to its board of directors, including former Gap Inc. CEO Sonia Syngal. Syngal, who is also on Tanger\u2019s board, has two decades of experience in retail, including in e-commerce, supply chain, brand strategy, operations and marketing, per a company press release.<\/p>\n
Also joining the board is Ace Hardware CEO John Venhuizen, who has spent 12 years in the top spot and 30 at the hardware retailer overall. His experience spans marketing, store operations, strategy, IT and supply chain, among other areas. Guillermo Marmol is stepping away from Foot Locker\u2019s board given the company\u2019s retirement age guidelines.<\/p>\n
“We are thrilled to welcome Sonia and John to our Board,\u201d Foot Locker CEO Mary Dillon said in a statement. \u201cWe look forward to benefitting from their complementary experience and fresh perspectives as we continue to execute our Lace Up Plan, pursue operational excellence, revamp our digital experience, and strengthen customer engagement initiatives.”<\/p>\n
Funko brings on Stanely vet<\/em><\/p>\nFunko on Tuesday announced that it has appointed Jenn Reeves as its senior vice president of brand. She most recently was the global vice president of brand marketing for Stanley 1913, according to a company press release. Reeves will drive the company\u2019s brand, voice and global strategy, and will report to CEO Cynthia Willams.\u00a0<\/p>\n
\u201cAs someone who thrives on storytelling and cultural relevance, joining the company during this exciting phase of its history is a huge opportunity to innovate and make a lasting impact,\u201d Reeves said in a statement.\u00a0<\/p>\n
New Balance sales hit a record<\/em><\/p>\nNew Balance this week said its global sales hit a record $7.8 billion in 2024, a year that\u2019s been tough for sneaker brands like Nike and Under Armour, as well as some resale sites. This was a 20% increase from the previous year and a whopping 136% from five years ago.<\/p>\n
The company credits its partnerships with Olympic gold medalist and world record holder Sydney McLaughlin-Levrone and Los Angeles Dodgers designated hitter Shohei Ohtani, plus its collabs with brands like Kith and Aim\u00e9 Leon Dore. \u201cThrough selective partnerships and distribution, they\u2019ve elevated the brand to premium status while breathing new life into retro styles that resonate with younger consumers like never before,\u201d the 119-year-old brand said in an emailed press release.<\/p>\n
Retail therapy<\/h3>\n That don\u2019t impress me much<\/em><\/p>\nEarlier this week,\u00a0Walmart unveiled what it called \u201ca comprehensive brand refresh\u201d \u2014 the first of its kind since 2008.<\/p>\n
The refresh includes more vibrant yellows and blues, greater emphasis on its spark logo and a new wordmark that was inspired by founder Sam Walton\u2019s classic trucker hat.<\/p>\n
While Walmart dubs this the first refresh in nearly 20 years, onlookers weren\u2019t impressed. Commenting on the changes, one X user commented \u201csimply increase saturation a bit and you have a bold new direction,\u201d while another sarcastically called the refresh \u201cso bold and visionary.\u201d<\/p>\n
Even discount grocer Aldi poked fun at the retail giant\u2019s big reveal, posting side-by-side images of its logo on Instagram with the caption \u201cSpot the difference! #IYKYK\u201d<\/p>\n\n\n
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\nAldi poked fun at the Walmart rebrand in an Instagram post.<\/p>\n
Retrieved from Instagram on January 16, 2025<\/div>\n
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Walmart seems to have stayed in good spirits despite the backlash, even poking fun at itself. On its X account on Wednesday, the retailer posted increasingly thicker versions of its spark logo with the text, \u201cThe future is bright\u2026and slightly more thick.\u201d<\/p>\n
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