It’s 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’re still thinking about.
From Panera fashion to Nordstrom’s partnership with New Balance, here’s our closeout for the week.
What you may have missed
Nordstrom wants to meet you at The Corner with New Balance
Nordstrom is launching a pop-up with New Balance at The Corner as part of an ongoing series of brand takeovers at its New York City flagship. The Corner is a dedicated space on the corner of 57th and Broadway.
The shop will debut with “Grey Days” — a month-long celebration of the shoe brand’s signature color — with new and classic products. Rounding out a three-month installation is the theme “Found in New York” for June and July.
"We're excited to connect our customers to the rich heritage of New Balance, while showcasing the vibrant culture of New York City through New Balance @ The Corner NYC," Olivia Kim, senior vice president of creative at Nordstrom, said in a statement. "The collaboration celebrates craftsmanship and innovation through an experiential space for customers to explore exciting product and immersive experiences."
NYSE begins delisting Solo Brands
The New York Stock Exchange announced that it has begun delisting Solo Brands due to its “abnormally low selling price.” Trading in the company’s Class A common stock was suspended on April 22.
Solo Brands has a right to review and appeal the NYSE regulation staff’s decision. The company, which owns Chubbies and Solo Stove, received a noncompliance notice from the stock exchange in March.
Shopsense AI adds product recommendations to Buzzfeed
BuzzFeed and Shopsense AI announced a partnership on Monday to integrate product recommendations into articles. This makes Buzzfeed the first editorial brand to partner with Shopsense. Shopsense’s AI-powered tech continuously updates product recommendations in real time. The tool, geared toward conversion, considers inventory, promotions and payment options when updating recommended products.
Buzzfeed will have two types of displays for product recommendations. One is an AI-driven product carousel with items based on an article or image content. Buzzfeed will also display a fully sponsored one with curated collections from one retailer or brand.
Retail therapy
Panera gets its flake on with Croissant Clutch
In a handbag trend all bread lovers can get behind, Panera this week announced the Croissant Clutch, a pastry-shaped bag that can fit one of its Croissant Toast Sandwiches inside.
Dabbling in luxury fashion has become something of a pastime for Panera, which two years ago rolled out a Baguette Bag perfectly fitted to its baguette sandwiches. Similar to that product, the Croissant Clutch is available for $39.50 and teases a new menu item. As with the Baguette Bag, the Croissant Clutch has also sold out of its limited run but, as of press time, the company’s website indicates a restock is coming soon.
The brown purse emulates a croissant’s flaky crust with a pleated design and has accordion sides to accommodate Panera’s croissant sandwiches. A gold chain shoulder strap completes the design, which is “all about serving looks and savoring flavor,” per a press release. The “carb couture,” as Panera calls it, is meant to not only tease the chain’s new food items but also connect with shoppers over a “unique fusion of food, function and fashion.”
Pastry fans that purchase the clutch will receive a $15 Panera gift card, as well as the admiration and respect of everyday bread lovers they pass on the street.
A finger-lickin’ good Mother’s Day gift
What better gift for the mother in your life than fried chicken? For Mother’s Day, KFC has partnered with Benchmark Resorts and Hotels to offer a chicken and waffles meal to select hotel room service menus for stays May 10 and May 11.
Benchmark Resorts and Hotels in Boston, Seattle, and Phoenix, along with Daytona Beach Shores, Florida, and Portland, Oregon, are all offering the KFC “Mom Flies the Coop” package. It includes nightly accommodations, a limited-edition KFC bathrobe, chicken and waffles and a KFC-branded dining tray. Rates begin at $159 per night.
What we’re still thinking about
$24.5M
That’s how much energy drink brand Gorgie secured in Series A funding, bringing the brand’s total funding to $37 million. The round was led by existing investor Notable Capital, with additional participation from Coefficient Capital and individual investors and board members Jason Cohen and Yossi Nasser, according to a Tuesday press release.
Gorgie, which launched in 2023, was founded by Michelle Cordeiro Grant, who also founded intimates brand Lively. The funding round comes ahead of a massive expansion for the energy drink brand as it prepares to launch in nearly 2,000 Target stores this summer.
"Few brands reach this level of velocity and resonance this early," Hans Tung, managing partner at Notable Capital and Gorgie board member, said in a statement. "Gorgie is executing with precision and intent in a category overdue for change.”
132
That’s how many Big Lots stores are set to reopen this month. The retailer’s new owners, Variety Wholesalers, are leading the expansion efforts and come after stores initially started reopening in April.
“The customer response to the newly expanded assortment of fresh inventory and great deals has been overwhelmingly positive,” Lisa Seigies, president and CEO of Variety Wholesalers, said in a statement. “The Big Lots stores opening in May show our continued commitment to providing the best value to our customers with apparel for the family, everyday needs for the home, kitchen, and pantry plus a huge selection of famous brands.”
The first phase of reopenings began Thursday and a second phase will occur on May 15. Stores are located in Alabama, Florida, Georgia, Indiana, Kentucky, Michigan, Mississippi, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia and West Virginia.
What we’re watching
NRF chief calls tariffs ‘an extraordinarily important tool,’ warns against uncertainty
National Retail Federation CEO Matthew Shay this week struck a conciliatory note on tariffs. He didn’t address a question about whether retailers expect price increases or shortages due to tariffs, especially on goods from China, saying that “the big issue here is the uncertainty,” and pivoted when asked whether the NRF is pressing President Donald Trump on carve-outs for retailers.
“I think there's a belief across America now that tariffs are an extraordinarily important tool for the president in trade relationships and in protecting certain industries in the United States for national security reasons, to make us more competitive,” he said, speaking to Fox Business host Stuart Varney.
The NRF is reserving its resources to advocate for “affordability and availability for American consumers” and other issues where it’s aligned with the president, including tax reform, extending deregulation and “American energy dominance and independence,” Shay said.
The organization is tougher against tariffs throughout its website. In one primer, the group says “tariffs threaten the American Dream” and points out that they can be particularly devastating to small businesses. The NRF was also more forceful on April 2, the day President Trump announced a slate of baseline and other tariffs, in a statement from chief lobbyist David French.
“More tariffs equal more anxiety and uncertainty for American businesses and consumers,” he said. “While leaders in Washington may not care about higher prices, hardworking American families do.”
