{"id":15015,"date":"2025-03-30T04:38:19","date_gmt":"2025-03-30T04:38:19","guid":{"rendered":"https:\/\/dmsretail.com\/RetailNews\/the-weekly-closeout-gamestop-pays-for-ceos-security-layoffs-at-mattel\/"},"modified":"2025-03-30T04:38:19","modified_gmt":"2025-03-30T04:38:19","slug":"the-weekly-closeout-gamestop-pays-for-ceos-security-layoffs-at-mattel","status":"publish","type":"post","link":"https:\/\/dmsretail.com\/RetailNews\/the-weekly-closeout-gamestop-pays-for-ceos-security-layoffs-at-mattel\/","title":{"rendered":"The Weekly Closeout: GameStop pays for CEO\u2019s security, layoffs at Mattel"},"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\">7 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=\"https:\/\/res.cloudinary.com\/dmgi9movl\/video\/upload\/q_1\/v1743176262\/news\/text_to_speech\/gamestop-ceos-security-ryan-cohen-mattel-layoffs_ggmsb5.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 H&amp;M\u2019s Q1 store closures to <span><span><span><span><span>Michelle Obama and Steph Curry partnering on a sports hydration drink<\/span><\/span><\/span><\/span><\/span>,\u00a0here\u2019s our closeout for the week.<\/p>\n<h3 class=\"standard-heading\">What you may have missed\u00a0<\/h3>\n<p><span><span><span><span><em><span>Williams-Sonoma keeps it 500<\/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>Home retailer Williams-Sonoma on Monday announced the <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>company\u2019s inclusion in the S&amp;P 500<\/span><\/span><\/span><\/span><\/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><span>\u201cBeing included in the S&amp;P 500 is a significant milestone that acknowledges the power of our brand portfolio and growth strategies,\u201d CEO Laura Alber said in a statement. \u201cWe remain committed to driving innovation, delivering exceptional products and experiences to our customers, and creating long-term value for our stakeholders.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span><span>The company\u2019s portfolio includes its namesake brand, Williams Sonoma Home, Pottery Barn, Pottery Barn Kids, Pottery Barn Teen, West Elm, Rejuvenation, Mark &amp; Graham and GreenRow.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><em><span>Weaker gross margin hurts H&amp;M\u2019s profitability in Q1<\/span><\/em><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>H&amp;M on Thursday reported <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>first-quarter net sales increased 3%<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> year over year to 55.3 billion Swedish Krona (about $5.5 billion).<\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><strong><span><span>\u00a0<\/span><\/span><\/strong><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>The company\u2019s profitability during Q1 was negatively impacted by weaker gross margin that was affected by increased markdowns, customer investments and external factors, according to an earnings announcement. Gross margin was 49.1% compared to 51.5% last year.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>CEO Daniel Erv\u00e9r said it continued to \u201coptimise the store portfolio\u201d through store closures, 40 net of which shuttered during the quarter.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cAlthough we have made important progress in our plan and have good cost control, our sales and earnings in the quarter were somewhat weaker than planned \u2013 but the first quarter is the smallest quarter of the year for us in terms of sales and margin, and we are confident going forward,\u201d Erv\u00e9r said in a statement.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><em><span>Sally Beauty partners with Uber Eats<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Sally Beauty entered the Uber Eats platform on Tuesday, making its <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>products available for delivery nationwide<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span>. This is Uber Eats first national beauty partnership and, to honor it, customers can get half off purchases $50 or more through March 31.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cBeing the first beauty retailer to partner with Uber Eats allows us to take convenience to the next level, further expanding our same-day delivery reach nationwide, making our quality products more accessible than ever before,\u201d Natalie Lockhart, group vice president of strategy, customer insights and digital experience at Sally Beauty Holdings, said in a statement.<\/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>Michelle Obama, Steph Curry partner to launch Plezi Hydration <\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Plezi Nutrition, the company co-founded by former First Lady Michelle Obama, announced this week that it <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>teamed up with NBA star Steph Curry<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> to create a healthier sports hydration drink.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><iframe loading=\"lazy\" title=\"NEW PLEZi Hydration x Stephen Curry\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/JXajl3FYzns?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p><span><span><span><span><span><span>&#8220;I&#8217;m excited to team up with Plezi to launch Plezii Hydration, a game-changing hydration beverage that I believe can make a real difference for anyone looking to perform at their best,&#8221; Curry said in a statement. &#8220;We&#8217;ve created something with smart ingredients and unbeatable flavor, so people can fuel their bodies the right way. No nonsense, no shortcuts \u2014 because the next generation deserves better.&#8221;<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Plezi said the beverage touts qualities like two-times the electrolytes, half the sugar, seven-times the potassium and less sodium compared to other sports drinks. The beverage comes in three flavors \u2014 lemon lime, tropical punch and orange mango twist \u2014 and is available in 16.9-ounce bottles for $2.29. The product is available nationwide on Amazon, as well as in California at Walmart, Albertsons, Safeway, Vons and Pavilions locations.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cAt Plezi, we&#8217;re always thinking about how we can change the game when it comes to nutrition,&#8221; Obama said in a statement. \u201cWe&#8217;re excited to provide a delicious, healthier option for everyone who&#8217;s trying to get active and stay hydrated.&#8221;<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><em><span>7-Eleven reintroduces an April Fool\u2019s Day sweet treat<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>7-Eleven\u2019s <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>Mystery Donut for April Fool\u2019s Day<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> is returning for a limited time.\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\" data-imagemodel=\"-1\" src=\"https:\/\/imgproxy.divecdn.com\/fgvaSFJGYum-R6yWKMGLfoWJH7lmAYKCAlqsOh7uGt4\/raw:1\/Z3M6Ly9kaXZlc2l0ZS1zdG9yYWdlL2RpdmVpbWFnZS83RWxldmVuX0FwcmlsX0Zvb2xzX015c3RlcnlfRG9udXRfUFIuanBn\"\/><\/div>\n<\/div><figcaption class=\"inside_story_caption\">\n<p>Image courtesy of 7-Eleven<\/p>\n<p>\u00a0<\/p>\n<\/figcaption><\/figure>\n<p><span><span><span><span><span><span>The Bismark-style donut features an unknown flavor filling. Customers can take their guess at the Mystery Donut flavor at participating 7-Eleven, Speedway and Stripes locations from Tuesday through April 29.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span><span>&#8220;Every April, we like to add a little mischief to our bakery offerings with the Mystery Donut as an unexpected twist that&#8217;s all about surprising our customers in the spirit of April Fool&#8217;s Day,&#8221; Brandon Brown, senior vice president of Fresh Foods at 7-Eleven, said in a statement. &#8220;It may seem like a prank, but it&#8217;s no joke!\u201d<\/span><\/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><span><span>\u00a0$268,553<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span><span>That\u2019s how much GameStop paid to <\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span><span>provide executive security<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span> services for CEO Ryan Cohen for the fiscal year ending on Feb. 1.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cWe believe these arrangements and costs are reasonable, appropriate, necessary and in the best interests of the company and its stockholders, as they enable Mr. Cohen to carry out his responsibilities,\u201d the company wrote in a document filed with the U.S. Securities and Exchange Commission.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>GameStop doesn\u2019t consider the securities to be a personal benefit or compensation paid to Cohen.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><em><span>120 <\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>That\u2019s how many employees Mattel will lay off at its headquarters, according to a March 17 notice filed in California in accordance with the Worker Adjustment and Retraining Notification Act.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>The permanent layoffs are effective on May 19. Mattel did not immediately respond to Retail Dive\u2019s requests for comment.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>The company said last year it was targeting $200 million in cost savings by 2026.\u00a0<\/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>Retailers face prolonged stretch of downbeat consumer sentiment<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>The Conference Board said this week that its measure of consumer expectations for employment, business conditions and personal finance fell to its <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>lowest point in 12 years<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> and uncomfortably below the threshold that can signal a recession. Its measure of consumers\u2019 confidence in the economy fell for the fourth straight month.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>This tracks with other research, including last week\u2019s <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>University of Michigan\u2019s monthly consumer survey<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span>, which one economist called \u201ca horrific report.\u201d Much of the anxiety is fueled by the tariffs imposed by the Trump administration, which <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>announced auto levies<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> earlier this week.<\/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>\u201cIf there was a silver lining in [The Conference Board\u2019s] March report, it was that consumer perceptions of the labor market held steady relative to February,\u201d Wells Fargo economists Tim Quinlan and Jeremiah Koh said in a research note this week. \u201cEven so, an overall theme of uncertainty is broadly setting in for the consumer, and the short term policy outlook does not portend an end to this uncertainty with new tariffs on the horizon in April.\u201d<\/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 7 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":15016,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-15015","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\/15015","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=15015"}],"version-history":[{"count":0,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/15015\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media\/15016"}],"wp:attachment":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media?parent=15015"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/categories?post=15015"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/tags?post=15015"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}