{"id":14797,"date":"2025-02-22T03:34:16","date_gmt":"2025-02-22T03:34:16","guid":{"rendered":"https:\/\/dmsretail.com\/RetailNews\/the-weekly-closeout-gamestop-eyes-asset-sale-hasbro-plans-a-turnaround\/"},"modified":"2025-02-22T03:34:16","modified_gmt":"2025-02-22T03:34:16","slug":"the-weekly-closeout-gamestop-eyes-asset-sale-hasbro-plans-a-turnaround","status":"publish","type":"post","link":"https:\/\/dmsretail.com\/RetailNews\/the-weekly-closeout-gamestop-eyes-asset-sale-hasbro-plans-a-turnaround\/","title":{"rendered":"The Weekly Closeout: GameStop eyes asset sale, Hasbro plans a turnaround"},"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\"><\/p>\n<p>            <img decoding=\"async\" class=\"text-to-speech__button__icon\" src=\"https:\/\/www.retaildive.com\/static\/images\/audio_icon.svg?482016190122\" alt=\"\"\/><\/p>\n<p>        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\/v1740154747\/news\/text_to_speech\/gamestop-sale-assets-hasbro-strategic-plan-rei-dei_nusr47.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><span><span><span><span><span><span>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<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>From REI\u2019s commitment to DEI to an executive departure at Adidas, here\u2019s our closeout for the week.<\/span><\/span><\/span><\/span><\/span><\/span><\/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>GameStop looks for a buyer for (some) operations<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span><span>GameStop on Tuesday announced that, as part of an international evaluation of its assets, the company wants to<\/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><span><span>sell off its operations<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span> in France and Canada.\u00a0<\/span><\/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:\/\/imgproxy.divecdn.com\/zxjbcP2tmqPM2P18_pocjvvgKZFsRAk-ZagFIdd75RY\/raw:1\/Z3M6Ly9kaXZlc2l0ZS1zdG9yYWdlL2RpdmVpbWFnZS9jb2hlbi5qcGc=\"\/><\/div>\n<\/div><figcaption class=\"inside_story_caption\">\n<p>Image via Ryan Cohen\u2019s X feed<\/p>\n<p>\u00a0<\/p>\n<\/figcaption><\/figure>\n<p><span><span><span><span><span><span><span>CEO Ryan Cohen stated on X that the company has set up an email address for anyone who is interested in pursuing an acquisition. \u201cHigh taxes, liberalism, socialism, progressivism, wokeness and DEI included at no additional cost if you buy today,\u201d Cohen wrote.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span><span>The retailer in December said it was<\/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><span><span>continuing a comprehensive store portfolio review<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span>, which identifies potential store closures.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><em><span>REI weighs in on the DEI debate<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span><span>In a company message from CEO Eric Artz and President Mary Beth Laughton,<\/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><span><span>REI last week stood firm in its DEI positioning<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span>, saying it \u201cwill always be\u201d a values-led company. <\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span>That\u2019s despite<\/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>extensive pressure from the Trump administration<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> and conservative activists to change longstanding diversity practices.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span><span>\u201cTo stray now would be not just antithetical to who we are but fundamentally at odds with our ability to steward a thriving co-op for future generations,\u201d the two leaders said, noting that its values have been critical to success since its founding in 1938. \u201cWe believe time outside is a human right and should be available, equitable and safe for all. That we have a responsibility to steward our public lands. And that we must do all that\u2019s humanly possible for the long-term health of our planet.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>The message comes as<\/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>Laughton prepares to take over as CEO<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> in March. The co-op has long positioned itself as a people-first company, including through initiatives like<\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span> OptOutside, which gives all employees Black Friday off to connect with their families and nature.<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span><span>\u201cHonoring and celebrating a diversity of experiences, perspectives and contributions makes this co-op stronger,\u201d Artz and Laughton wrote. \u201cThis work is vital to our survival.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><em><span>Hasbro is \u2018Playing to Win\u2019 in strategic overhaul <\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Toy and game company Hasbro on Thursday said it\u2019s embarking on a strategic turnaround plan.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Dubbed \u201cPlaying to Win,\u201d one of the plan\u2019s goals is <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>expanding Hasbro\u2019s reach<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> from 500 million kids, families and fans to 750 million by 2027. Hasbro also said it wants to drive mid-single digit revenue growth between 2025 and 2027, capturing $1 billion in gross cost savings in the process. The company wants half of that to flow to its bottom line.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span><span>The plan arrived as Hasbro reported Thursday that its 2024 fiscal year <\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span><span>revenue declined 17%<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span>, from $5 billion to $4.1 billion.<\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> The drop was driven primarily by the divestiture of its film and TV business \u2014 when excluding the segment, revenue declined 7%.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>The five point foundation of the plan involves building profitable franchises; increasing play and collectible appeal for fans age 13 and up across all brands; expanding reach in emerging markets; building capabilities in video games, services and e-commerce; and driving profit through retail and licensing partnerships. <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span>Hasbro also plans to collaborate with partners on upcoming movies, themed hotels, cruise ships, restaurants and AAA video games.<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cO<\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span>ur new strategy is grounded in the key insights which will drive Hasbro\u2019s evolution into a modern play company: serving fans of all ages around the world at every price point, and meeting fans where they are playing, which is increasingly online,\u201d said CEO Chris Cocks.<\/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>Hot Girl Meg enters tequila<\/span><\/em><\/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:\/\/imgproxy.divecdn.com\/L_--Q6SlET-Od_9R5zbJOqWd6eQnp_4Vn0sU_qVjdCg\/raw:1\/Z3M6Ly9kaXZlc2l0ZS1zdG9yYWdlL2RpdmVpbWFnZS9DaGljYXNfRGl2ZXJ0aWRhc19UZXF1aWxhLmpwZw==\"\/><\/div>\n<\/div><figcaption class=\"inside_story_caption\">\n<p>Image courtesy of Chicas Divertidas Tequila<\/p>\n<p>\u00a0<\/p>\n<\/figcaption><\/figure>\n<p><span><span><span><span><span><span>Megan Thee Stallion is entering the celebrity tequila business. The artist<\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span> introduced a <\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span><span>tequila brand <span>Chicas<\/span> <span>Divertidas<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span>, the brand announced Feb. 15.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span><span>The drink comes in blanco for $70 and reposado at $80, and is available for pre-order. The 750ml bottles will also be available in limited quantities at select U.S. retailers.<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><em><span>Krispy Kreme, Hulu partner on a hole-some treat <\/span><\/em><\/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:\/\/imgproxy.divecdn.com\/dn1PaTArfJSxRWGWqTjEgvJ-YmuNEJFOtaha1qsq_SI\/raw:1\/Z3M6Ly9kaXZlc2l0ZS1zdG9yYWdlL2RpdmVpbWFnZS9LS0RfeF9IdWx1X01vdmllX1NuYWNrc19NZWRpYV9JbWFnZV8xLmpwZw==\"\/><\/div>\n<\/div><figcaption class=\"inside_story_caption\">\n<p>Image courtesy of Krispy Kreme, Hulu<\/p>\n<p>\u00a0<\/p>\n<\/figcaption><\/figure>\n<p><span><span><span><span><span><span><span>Krispy<\/span> <span>Kreme<\/span> and Hulu on Monday announced they <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>collaborated on four new doughnuts<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> that are inspired by movie snack bars. Flavors include blue raspberry slush, caramel popcorn, cookie dough and a \u201ccandy double feature,\u201d that includes milk chocolate candy pieces and mini chocolate chips.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Krispy Kreme x Hulu movie snack doughnuts are available for a limited time at Krispy Kreme stores, via their app and website and at select retailers.<\/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\"><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><span><em><span>4<\/span><\/em><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span>\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span><span>That\u2019s how many years Eric Wise spent as the general manager of <\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span><span>Adidas\u2019 global basketball business<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span> before leaving the role, per a LinkedIn post from the executive this week. It was part of an almost nine-year journey with the global sportswear giant that also included senior positions in product and merchandising.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Though he did not offer specifics, the executive said it\u2019s <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span>\u201ctime for me to step into my next chapter.&#8221;<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span><span>Adidas confirmed Wise\u2019s departure in an email and said the company is \u201c<\/span><\/span><\/span><\/span><\/span><\/span><\/span>grateful and appreciative of the significant contributions that Eric has made.\u201d The retailer did not respond to questions about<span><span><span><span><span><span>\u00a0who would take on the role or if the departure was tied to its recent restructuring plan. <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span>The sportswear giant <\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span><span>announced a restructuring program<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span> last month aimed at reducing complexity across the business.<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span><span>\u201cWhile leading the basketball business, I am proud of our achievement \u2014 relaunching the category, expanding partnerships, establishing a strong presence in Los Angeles and achieving incredible sales gains on the business side,\u201d Wise said.<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span><span>Adidas &#8220;isn&#8217;t just a company \u2014 it&#8217;s a global culture,&#8221; Wise said.<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><em><span>6.7%<\/span><\/em><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span>\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span><span>That\u2019s how much<\/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><span><span>net income fell at Somnigroup International<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span> \u2014 previously Tempur Sealy International \u2014<\/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>during the fourth quarter, reaching $71.9 million. The company also reported net sales increased 3.2% to $1.2 billion.<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span><span>The company earlier this month<\/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><span><span>closed on its deal to acquire Mattress Firm<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span> after the<\/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><span><span>Federal Trade Commission moved to block the deal<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span>.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span><span>Looking ahead, the company expects to divest 73 Mattress Firm stores and the entire Sleep Outfitters subsidiary store fleet, which was<\/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><span><span>agreed upon in September<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span> to address the FTC\u2019s antitrust concerns.<\/span><\/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><span><span><span><span><em><span>What\u2019s going on with Saks and Neimans?\u00a0<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span><span>This week was heavy with news regarding Saks and Neiman Marcus. At the end of last year the companies<\/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><span><span>announced that Saks Global acquired Neiman Marcus for $2.7 billion<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span>, with Saks CEO Marc Metrick leading the expanded company.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Now, after more than a century the Neiman Marcus flagship in<\/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>downtown Dallas is closing<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> and Saks warned suppliers they will have to<\/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>wait for payments<\/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>Additionally, well-known personal stylist Catherine Bloom, who worked at Neiman Marcus since she was 18,<\/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><span><span>resigned from the company<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span> and joined Nordstrom as its director of luxury styling.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Questions regarding the future of the company, including if vendors will agree to Saks\u2019 terms for inventory, remain.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<div class=\"editor-note\">\n<p>Editor&#8217;s note: This story has been updated to include comment from Adidas on Wise&#8217;s departure.<\/p>\n<\/div><\/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. 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