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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 Sam\u2019s Club\u2019s goal of growing membership \u201cnot tethered to a physical club,\u201d to Justice celebrating Pac-Man\u2019s 45th anniversary, here\u2019s our closeout for the week.<\/p>\n
What you may have missed<\/h3>\n JD Sports says it is now bigger than Foot Locker in North America<\/em><\/p>\nIn its Q4 earnings announcement, U.K.-based JD Sports said the outcome of tariffs \u2014 which have caused significant upheaval as they\u2019ve regularly fluctuated \u2014 is still uncertain and the company expects the landscape to continue to be \u201cvolatile\u201d this year.<\/p>\n
\u201cWe are in regular dialogue with our brand partners but it is too early to comment on the potential sector impact,\u201d the retailer said Wednesday.<\/p>\n
The macroeconomic environment aside, JD Sports ended its last fiscal year on a high note, with 5.8% organic revenue growth. In North America, the group\u2019s revenue grew 7.5% and CEO Regis Schultz said the company is now \u201cbigger than Foot Locker\u201d in the region this year. In addition to JD, the company in North America also runs Finish Line, Shoe Palace, DTLR and Hibbett.<\/p>\n
The acquisitions JD Sports has made in the past year, including U.S.-based Hibbett, should add 10% to the brand\u2019s revenue in the upcoming fiscal year. JD Sports plans to open 150 new stores in the year ahead, relocate or convert 100 locations and shutter about 50, the latter mostly in Eastern Europe.<\/p>\n
Scentbird partners with Neiman Marcus<\/em><\/p>\nFragrance subscription service Scentbird announced a collaboration with Neiman Marcus. The luxury department store has curated 30 fragrances in its \u201cNeiman\u2019s Select\u201d collection, according to an announcement.\u00a0<\/p>\n\n\n
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\nThe Neiman\u2019s Select collection<\/p>\n
Image courtesy of Scentbird<\/p>\n
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Scentbird subscribers will have access to the assortment in 8 ml travel sizes. Brands represented include Montale, Mancera, Thameen London, Vilhelm Parfumerie and Fragrance du Bois, among others. Every purchase comes with a complimentary case, and Scentbird offers a way to purchase full-sized bottles directly from the collection on the Neiman Marcus website.\u00a0<\/p>\n
Van Maur opens its first North Dakota store<\/em><\/p>\nVan Maur Department Stores opened a location in Fargo, North Dakota, on Saturday, its first store in the state and its 39th overall.\u00a0<\/p>\n\n\n
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\nJim von Maur, president of Von Maur Department Stores, speaks at the opening of the company’s North Dakota store.<\/p>\n
Image courtesy of Van Maur Department Stores\u00a0<\/p>\n
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\u201cSharing similar Midwestern roots, we appreciate the sense of community and culture that defines Fargo and trust that our wide selection of premium brands and exceptional service will appeal to shoppers across the region,\u201d President Jim von Maur said in a statement.\u00a0<\/p>\n
The company is going through a $100 million renovation of its existing stores in the coming years. Von Maur Department Stores was founded in 1872 in Davenport, Iowa.\u00a0<\/p>\n
Retail therapy<\/h3>\n Justice powers up for Pac-Man <\/em><\/p>\nTween brand Justice is releasing a Pac-Man collection. The collaboration with Bandai Namco Entertainment America is launching in time for the summer and coincides with the game\u2019s 45th anniversary.<\/p>\n\n\n
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\nImage courtesy of Justice<\/p>\n
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The line of swimwear, clothes, backpacks and more is available exclusively at Walmart stores nationwide and on Walmart\u2019s website. The limited-edition collection also includes a varsity jacket, trucker hat and crossbody bag.<\/p>\n
Ranch lovers, unite!<\/em><\/p>\nHidden Valley Ranch launched seven new flavors with redesigned bottles. The brand\u2019s new ranch offerings include blue cheese, cajun blackened, cilantro lime, cracked pepper and sweet barbecue. New seasonings include garlic ranch and creamy jalapeno ranch.<\/p>\n
The redesigned packaging includes an improved flow control cap and inverted easy-squeeze bottle. Kickin’ Cajun Blackened Ranch is available exclusively at Kroger while the blue cheese, sweet barbecue and cracked pepper ranches are only at Walmart.<\/p>\n
What we\u2019re still thinking about<\/h3>\n 40%\u00a0<\/em><\/p>\nThat\u2019s how many Sam\u2019s Club transactions come from its digital channels, including Scan & Go and its website, according to a Wednesday company announcement tied to Walmart\u2019s investor day. The company said Sam\u2019s Club will use enterprise platforms, like its fulfillment network, to expand its e-commerce presence and \u201cgrow membership not tethered to a physical club.\u201d<\/p>\n
Membership income at Sam\u2019s Club was also up 22% over the past two years, while tenured membership was above 90%. By demographic, the club retailer is resonating with younger consumers, with Gen Z and millennial shoppers making up more than half of its new members.<\/p>\n\nThe retailer will also continue building out its footprint, building on plans announced in January 2023 to open 30 new clubs. Every year after that, Sam\u2019s Club anticipates opening 15 new clubs for the foreseeable future.<\/p>\n
$1M <\/em><\/p>\nThat\u2019s the base salary for Brian Newman, CVS Health\u2019s freshly appointed chief financial officer.\u00a0<\/p>\n
Newman steps into the role May 12 and joins the health-focused retailer from UPS where he also served as CFO.\u00a0<\/p>\n
Tom Cowhey, who took the CFO role at CVS just last year, will become a strategic adviser to CEO David Joyner in May.<\/p>\n
What we\u2019re watching\u00a0<\/h3>\n Rite Aid reportedly contemplating bankruptcy again, less than a year after exiting its last one <\/em><\/p>\nRite Aid, which exited bankruptcy court only in September, may be headed toward Chapter 22. The drugstore retailer is once again contemplating bankruptcy and attempting to sell itself, according to The Wall Street Journal, citing \u201cpeople familiar with the matter.\u201d\u00a0Rite Aid didn’t immediately respond to a request for comment on the matter.<\/p>\n
The company filed Chapter 11 in the fall of 2023 and closed hundreds of stores, emerging seven months ago as a private company, with about $2 billion less debt plus some $2.5 billion in exit financing. The company now runs over 1,200 stores in the U.S., but may need to close more locations, per the Journal\u2019s report. The chain has struggled for years, and two attempts at mergers in recent years \u2014 with rival Walgreens, then grocery chain Albertsons \u2014 failed. U.S. drugstore chains have generally focused on healthcare operations in recent years and have long offered lackluster retail experiences.<\/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":15096,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-15095","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\/15095","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=15095"}],"version-history":[{"count":0,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/15095\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media\/15096"}],"wp:attachment":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media?parent=15095"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/categories?post=15095"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/tags?post=15095"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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