Dollar Tree faces pressured margins due to inflation<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\nDollar Tree this week reported its consolidated net sales rose 6.1% to $7.32 billion in the first quarter.<\/p>\n
Operating income was $419.7 million and operating margin was 5.7%, while the retailer\u2019s net income was $299 million. However, Dollar Tree\u2019s gross profit fell 4.7% to $2.23 billion and its gross margin declined 340 basis points to 30.5%.<\/p>\n
\u201cIn addition to the historic levels of inflation and labor market challenges, retailers have seen in just the past quarter elevated levels of shrink and even further pressure on the consumer\u2019s willingness to spend on discretionary goods,\u201d CEO Rick Dreiling said, according to an earnings call transcript. \u201cShrink and the mix shift from discretionary goods have pressured margins throughout retail. We are no exception.\u201d<\/p>\n
Dollar Tree tightened its full-year sales guidance and is being more cautious on margins and earnings per share, saying the unfavorable sales mix away from discretionary purchases is likely to normalize over time. Consolidated net sales for fiscal 2023 are now expected to range from $30 billion to $30.5 billion. And the company expects to deliver a low- to mid-single-digit comp store sales increase for the year.\u00a0<\/p>\n
Tuesday Morning intellectual property up for sale<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\nTuesday Morning\u2019s assets are for sale, including its trademarks, domain names, icustomer database, social media accounts, design patents and related digital content.<\/p>\n
Founded in 1974 in Dallas, Tuesday Morning achieved $1 billion in revenue in 2019. But faced with \u201cexceedingly burdensome debt,\u201d the home decor retailer filed for Chapter 11 in February. And a few months later, the company announced it was going out of business following a court-approved bankruptcy sale to Hilco for $32 million.<\/p>\n
\u201cThe Tuesday Morning brand provides a meaningful opportunity to maintain engagement with its valuable customer base and to reactivate the remainder through new channels such as e-commerce and new product categories,” Hilco Streambank executive vice president David Peress said in an announcement.<\/p>\n
Target expands its private label luggage brand<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\nAfter launching in 2020, Target\u2019s Open Story luggage private label is expanding its offering.<\/p>\n
The retailer earlier this week said it has added new luggage options and accessories, most of which are under $30, including a hardside carry-on, packing cubes and a commuter backpack.<\/p>\n\n\n
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\nCourtesy of Target<\/p>\n
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\u201cYou asked for simple organization solutions, space-maximizing designs, a range of sizes and smart technology, and Open Story has it all, with travel solutions for every budget,\u201d the company said in an announcement.<\/p>\n
Target has been successful in its introduction of private labels in recent years, touting several billion-dollar brands, including its activewear brand All in Motion, which reached $1 billion in sales in its first year.<\/p>\n
The Open Story brand, however, positions itself as a lower-cost option against DTC players like Away and Monos. While Away has expanded its physical footprint with more stores, reports circulated earlier this year that the DTC brand could be exploring strategic options, including a sale.<\/p>\n
Retail therapy <\/span><\/span><\/strong><\/span><\/span><\/span><\/h3>\nLow on date night ideas? How about dinner at HomeGoods?<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\nPeople will pay for all kinds of novel dining experiences. Whether it\u2019s dining in the dark or eating Christmas dinner at Hogwarts, there\u2019s a market for the unique \u2014 and HomeGoods wants in on it.<\/p>\n
The off-price retailer this week announced \u201cA Taste of HomeGoods,\u201d a $25 dinner curated by James Beard award-winning Chef Mashama Bailey. For one night only, treasure hunting home goods shoppers in Austin can experience an eight-course meal while touring four different styled spaces. Bailey designed the dinner around HomeGoods\u2019 merchandise selection, according to a statement.<\/p>\n\n\n
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\nCourtesy of HomeGoods<\/p>\n
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The food experience will take its intrepid explorers through a champagne toast in the \u201cFoyer of Curiosity,\u201d skewered light bites in the \u201cHarmony Lounge,\u201d main courses and wines in the \u201cLibrary of Discovery,\u201d and a dessert pairing in the \u201cWanderlust Desert.\u201d While they might seem like episodes of a young adult TV show, each room is actually inspired by an inanimate object, ranging from a \u201cmulti-stem ceramic vase\u201d to a \u201cgold metal floor lamp.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\nThe home goods retailer is offering 30 reservations at both 6PM and 9PM ET for the Wednesday dining experience.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\nMarvel and Crocs create clogs ready for web-slinging<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n\nAhead of the release of \u201cSpider-Man: Across the Spider-Verse,\u201d Marvel and Crocs have partnered to create a collection of clogs, according to Footwear News. Inspired by Spider-Man, the collection offers three clogs and various Jibbitz charms for each pair. The Ghost Spider Classic Clog, All-Terrain Clog and the Team Spider-Man Echo clogs range from $55 to $80.\u00a0<\/p>\n
The designs feature colors from the classic Spider-Man suit, the Miles Morales suit and comic book series character Spider-Gwen. The shoes include varying features like webbed designs and turbo straps for casual and sports mode. All pairs are set to be available at Foot Locker, Kids Foot Locker, Champs Sports and on Crocs.com, Footwear News said. Crocs\u2019 latest collaboration follows previous shoe releases with Bad Bunny, SZA, Post Malone, and others.\u00a0<\/p>\n
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