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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 Youthforia shutting down to Chairish getting acquired, here\u2019s our closeout for the week.<\/p>\n
What you may have missed<\/h3>\n Puma beefs up executive team<\/em><\/p>\nWithin the space of a week, Puma named both a chief operating officer and a vice president of its basketball division.\u00a0<\/p>\n
Andreas Hubert, previously Adidas\u2019 chief information officer, will take over as Puma\u2019s operations chief come Sept. 1, where he will lead global sourcing, sustainability, product development, IT and logistics. That shift also moves certain responsibilities under the COO role that were previously spread out among the executive team, specifically sourcing, IT and logistics. Hubert, who will join Puma\u2019s management team, spent 20 years at rival Adidas across various leadership roles.<\/p>\n\n\n
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\nHubert spent 20 years at rival Adidas across various leadership roles.<\/p>\n
Courtesy of Puma<\/p>\n
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Meanwhile, Timberland\u2019s chief merchant Archie McEachern will head up basketball\u00a0starting Aug. 18. The executive has nearly 30 years of experience at activewear powerhouse Nike and was previously the CEO of basketball innovation startup 360 Hoops. He will report to Chief Product Officer Maria Valdes.<\/p>\n
Valdes called McEachern \u201ca seasoned expert who understands both product and the culture of our consumers\u201d as the company noted recent momentum at Puma in the all-important category. CEO Arthur Hoeld, himself a long-time Adidas veteran who just arrived in July, likewise praised COO Hubert for his \u201cdeep industry experience\u201d and \u201cextensive background.\u201d<\/p>\n
Puma is weathering a tough spot financially, reporting a sales decline and guidance cut just last week.<\/p>\n
Youthforia shuts down<\/em><\/p>\nBeauty brand Youthforia this week announced it is closing.<\/p>\n
\u201cIt\u2019s been a dream to create such a beautiful brand \u2014 but unfortunately, I\u2019ve made the hard decision to shut down Youthforia,\u201d founder Fiona Co Chan said in a post on the brand\u2019s Instagram page.<\/p>\n
The beauty brand faced controversy in recent years. It received criticism after launching its Date Night Skin Tint Serum Foundation in 2023 for having a limited shade range, with few designed for darker skin tones. When the brand added 10 additional shades last year, its darkest shade, 600, drew backlash. Some critics compared the shade to black face paint.<\/p>\n
The brand pulled the shade from store shelves and online, and Chan later attributed the \u201cmissteps\u201d to \u201crush[ing] the process to create this shade extension.\u201d<\/p>\n
The brand\u2019s website is offering 50% discounts on products with all sales final.<\/p>\n
Crocs anticipates double-digit declines as tariffs take a toll <\/em><\/p>\nCrocs has been having a decent year so far, but the company expects its performance to deteriorate. Blaming \u201ccontinued uncertainty from evolving global trade policy and related pressures around the consumer,\u201d the shoe retailer on Thursday would only provide guidance for Q3, when it expects revenues to fall as much as 11% and adjusted operating margin to reach 18% to 19%, including some 170 basis points \u201cfrom announced and pending tariffs.\u201d<\/p>\n
Needham analyst Tom Nikic called the Q3 guidance a \u201cbig shock\u201d in a client note the same day.<\/p>\n
Otherwise, the company said Q2 consolidated revenues rose 3.4% year over year to $1.1 billion, with DTC up 4% and wholesale up 2.8%. Gross margin expanded 30 basis points to 61.7%. The company swung to a $492 million loss from $229 million in net income last year. Crocs brand revenues rose 5% to $960 million while HeyDude revenues fell nearly 4%.<\/p>\n
\u201cThe dude does not abide,\u201d Nikic wrote.<\/p>\n
Retail Therapy<\/h3>\n A new take on ketchup<\/em><\/p>\nWe\u2019ve all heard the debate over whether tomato is a fruit or vegetable. But that, apparently, has raised further questions about what makes something a smoothie \u2014 and Heinz is weighing in.<\/p>\n
In an attempt to answer the question, \u201cis ketchup a smoothie,\u201d Heinz teamed up with Smoothie King to release a ketchup smoothie. It’s an idea so controversial, you\u2019ll want to throw tomatoes at it in protest \u2014 but you won\u2019t need to since there\u2019s too many tomatoes already.<\/p>\n
The recipe calls for acai sorbet, apple juice, strawberries, raspberries and of course, Heinz Ketchup.<\/p>\n\n\n
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\nHeinz\u2019 ketchup smoothie.<\/p>\n
Courtesy of The Kraft Heinz Company, Smoothie King<\/p>\n
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Cava enters blind bag collectibles<\/em><\/p>\nMove over Labubu, there\u2019s a new sheriff in town.\u00a0<\/p>\n
Cava has released its own blind bag plushies. When ordering the Hot Harrisa Meal in stores, customers can win one of four plushies starting Monday. Those include Peter Chip, Jimmy Harissa, Garlic Gus and Sweet Sammy, based on Cava\u2019s pita chip flavors.<\/p>\n\n\n
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\nCava\u2019s Peter Chip plushie.<\/p>\n
Courtesy of Cava<\/p>\n
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What we\u2019re still thinking about<\/h3>\n 11.5%<\/em><\/p>\nThat\u2019s how much Bark\u2019s total revenue fell in the first quarter, reaching $102.9 million. DTC revenue fell 16.7% year over year to $89.2 million, while wholesale revenue was up nearly 50% to $13.7 million. Net loss narrowed to $7 million from $10 million in the year-ago period.<\/p>\n
The company said that Bark Air, which launched in the spring of 2024, surpassed $2 million in revenue in Q1.<\/p>\n
$85M<\/em><\/p>\nThat\u2019s how much it cost Auction Technology Group to acquire fixed-price vintage home furnishings marketplace Chairish Inc., which operates Chairish in the U.S. and Pamono in Europe. ATG runs auction marketplaces LiveAuctioneers, The Saleroom and more across categories including arts, antiques, collectibles, design and industrial.<\/p>\n
“This is a milestone step in our mission to transform how people connect with unique finds,” John-Paul Savant, CEO of ATG, said in a statement. “Chairish complements our marketplace portfolio with beautifully curated inventory, deep seller relationships, and a loyal design-savvy audience. Together, we are creating a multi-brand platform that brings greater choice and possibility to buyers and sellers alike.”<\/p>\n
What we\u2019re watching<\/h3>\n Sen. Warren warns Dick\u2019s Foot Locker takeover could hurt consumers, workers and small stores<\/em><\/p>\nU.S. Sen. Elizabeth Warren this week sent the Federal Trade Commission a letter asking the agency to \u201cclosely scrutinize\u201d Dick\u2019s Sporting Goods\u2019 planned acquisition of Foot Locker. The Massachusetts Democrat, who has long been a consumer advocate, said the combination could reduce consumer choice, raise prices, slash jobs and endanger small businesses.<\/p>\n
Dick\u2019s didn\u2019t immediately return a request for comment. The sports gear giant in May announced plans to acquire its rival for $2.4 billion. Analysts have looked askance at the proposal, which some see as a big bet on Nike.<\/p>\n
\u201cThe combination of Dick\u2019s Sporting Goods and Foot Locker would decrease competition in the retail athletic footwear markets, cut jobs, raise prices, and leave Americans to foot the bill,\u201d Warren said in a statement Wednesday. \u201cThis is particularly concerning given that more than half of parents \u2018plan to sacrifice necessities, such as groceries,\u2019 because of rising prices for back-to-school shopping, including sneakers.\u201d<\/p>\n<\/p><\/div>\n
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