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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 Mango\u2019s store expansion to bacon gummies,\u00a0here\u2019s our closeout for the week.<\/p>\n
What you may have missed<\/h3>\n Primark\u2019s CEO exits following an investigation <\/em><\/p>\nPrimark on Monday announced that Paul Marchant had exited the company following an independent investigation. An allegation was made regarding his behavior toward a woman in a social environment.\u00a0<\/p>\n
Marchant made an apology to the person involved and to his Pimark colleagues, the company said in a press release.\u00a0<\/p>\n
\u201cWe remain in contact with the individual who rightly raised her concerns and have offered her our support,\u201d the company stated. \u201cAcross our stores, our offices and our supply chain, we are committed to doing business the right way, at all levels of our teams.\u201d<\/p>\n
Eoin Tonge has been named interim CEO. He joins the company from Associated British Foods, Primark\u2019s parent company, where he served as its finance director. Prior to that, Tonge worked at Marks & Spencer as its chief financial and strategy officer.\u00a0<\/p>\n
Mango pushes ahead with US expansion<\/em><\/p>\nApparel retailer Mango continues to deepen its ties in the U.S. with the opening of several stores.<\/p>\n
In a slew of announcements, the company said it opened stores in New Mexico, Nevada and Oregon \u2014 the first locations for the brand in those states.<\/p>\n
The New Mexico location features both women\u2019s and men\u2019s lines, while the Nevada and Oregon stores offer exclusively women\u2019s pieces.\u00a0<\/p>\n
Mango has been working to build out its store footprint. In December, the retailer said it achieved its U.S. expansion plan of opening 40 stores by the end of last year ahead of schedule. This year, the company plans to open 20 stores, including in Seattle and Chicago, bringing its total footprint in the U.S. to about 65.<\/p>\n
Hudson\u2019s Bay fishes for sale offers<\/em><\/p>\nA few weeks after filing for the equivalent of bankruptcy protection in Canada, Hudson\u2019s Bay Co. is looking for sale offers. The department store this week announced the beginning of a sale and investment solicitation process, which will explore opportunities to sell part or all of the company\u2019s assets. Also on the table is an investment in Hudson\u2019s Bay or a refinancing of the business.<\/p>\n
Interested parties must submit a bid by the end of the month. In the meantime, Hudson\u2019s Bay has begun liquidating the majority of its store footprint. A lease monetization process is now underway for the retailer\u2019s leases, led by Oberfeld Snowcap, with bidders due by April 15. The retailer also recently cut 200 corporate roles as part of the restructuring process.<\/p>\n
Retail therapy<\/h3>\n Bacon gummies anyone?\u00a0<\/em><\/p>\nSurprisingly real and not an April Fools\u2019 joke, Sour Punch candy released maple bacon flavored gummy bites on Tuesday.<\/p>\n\n\n
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\nImage courtesy of Sour Punch<\/p>\n
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\u201cBacon has been on trend for other food categories, and we thought it would be fun to bring it to sour candy,” Kyle Stout, senior product and innovation manager, said of the limited-edition flavor.\u00a0<\/p>\n
Sour Punch candy has had a similar trick up its sleeve in years past. Starting in 2022, each April Fools\u2019 Day the brand teased a wild flavor of gummies. Though its initial sour cream and onion flavored candy never hit shelves, 2023\u2019s pickle roulette garnered enough social media attention that the limited-edition product became a permanent offering.<\/p>\n
Art heals all<\/em><\/p>\n\n\n
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\nImage courtesy of The Metropolitan Museum of Art, Band-Aid<\/p>\n
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The Metropolitan Museum of Art is bringing some of its famous pieces to life as Band-Aids through a new partnership.<\/p>\n
Coming to Target on Sunday, artworks like \u201cThe Great Wave\u201d by Katsushika Hokusai and \u201cBrother Rabbit\u201d by William Morris will be featured on first-aid tins, bags and Band-Aid brand adhesive bandages.\u00a0<\/p>\n
What we\u2019re still thinking about<\/h3>\n 2.7% to 3.7%<\/em><\/p>\nThat’s how much retail sales could rise this year, reaching between $5.4 trillion and $5.5 trillion, with a \u201cslower trajectory for consumer spending,\u201d due in part to tariffs, NRF Chief Economist Jack Kleinhenz said.<\/p>\n\nAfter President Donald Trump announced sweeping tariffs Wednesday, National Retail Federation Executive Vice President of Government Relations David French criticized such levies as \u201ca tax paid by the U.S. importer that will be passed along to the end consumer.\u201d\u00a0<\/p>\n
\u201cMore tariffs equal more anxiety and uncertainty for American businesses and consumers,\u201d French said in a statement. \u201cWhile leaders in Washington may not care about higher prices, hardworking American families do.\u201d<\/p>\n
1 <\/em><\/p>\nThat\u2019s how many CEOs On will have by July 1. The athletics retailer announced this week that after more than a decade leading On, co-CEO Marc Maurer will exit the company. Maurer will remain in his role through June 30, after which Martin Hoffmann, current co-CEO and CFO, will step into the sole chief executive position. Maurer will serve as an adviser until March 2026.<\/p>\n
The announcement was made amid a wave of other leadership changes at the brand, which included hires for chief supply chain officer, chief innovation officer, chief communications officer and chief people officer. A search has commenced for a new chief financial officer.<\/p>\n
What we\u2019re watching<\/h3>\n Apparel retailers grapple with higher-than-expected tariffs <\/em><\/p>\nThe tariffs announced Wednesday are steeper and broader than expected, and affect almost every apparel and footwear retailer. Nearly all manufacturing is abroad, mostly in Asia, according to Wells Fargo analysts led by Ike Boruchow, who calculate that tariffs on softline goods like apparel rose from just under 7% to over 37% on a weighted basis. \u201cThis puts all 2025 guidance at risk,\u201d they said.<\/p>\n\nBrands and retailers couldn\u2019t really devise strategies until the policy was announced, and most were likely caught off guard, William Blair analysts led by Dylan Carden said. Especially hard hit are brands like On, Lululemon, Deckers and Gap Inc.\u2019s labels that switched manufacturing to Vietnam, according to Evercore ISI analysts led by Michael Binetti.<\/p>\n
Off-price retailers, because they offer value and often source domestically, are sheltered somewhat, according to Jefferies analysts led by Corey Tarlowe. \u201cHowever, even Off-Price can be subjected to pressures from higher prices,\u201d they said.<\/p>\n<\/p><\/div>\n
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 […]<\/p>\n","protected":false},"author":1,"featured_media":15052,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-15051","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/15051","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=15051"}],"version-history":[{"count":0,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/15051\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media\/15052"}],"wp:attachment":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media?parent=15051"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/categories?post=15051"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/tags?post=15051"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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