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 Amer Sports’ growth in Q2 to Angel Reese’s sweet partnership, here’s our closeout for the week.
What you may have missed
Amazon announces return of October sales event
Amazon on Thursday announced it is bringing back its Prime Big Deal Days sales event this October.
The sale will span across 19 countries, including Australia, Brazil, Italy, Japan and the U.S., the e-commerce giant said in its announcement. During the sales event, Prime members can access holiday deals in “popular categories, including deep discounts on products from top brands.”
Amazon in 2020 offered its Prime Day sales event in October after the pandemic delayed the event typically held during the summer. In 2022, and again last year, the company hosted its Prime Day event during the summer and another Prime-exclusive sales event in October as an unofficial kickoff to the holiday season.
Bark launches on Chewy
In arguably the most adorable announcement this week, Bark on Wednesday said it has launched on Chewy.
Furthering its distribution, the brand said some of its most popular toys — such as the Grey Bear Hugger, Steve Squeaky Plush Snake and Hare Bunny Rabbit Magician Hat Plush Toy — are available on the online pet retailer’s website.
“The initial customer feedback exceeded our expectations, and we look forward to expanding our offerings in the coming months,” Bark CEO and co-founder Matt Meeker said in a statement.
Bark, known for its BarkBox and Bark Super Chewer subscription boxes, is planning to add more toys and consumables to Chewy’s website in the coming months, per the announcement.
The deal adds to Bark’s growing list of wholesale partners, which also includes Target and Amazon.
Hollister introduces collegiate collection
Hollister has introduced its Collegiate Graphics Shop in time for the back-to-school season. The 67-piece apparel collection features sweatshirts, hoodies and T-shirts with vintage-inspired logos representing over 30 U.S. universities. Prices range from $29.95 to $59.95. Hollister said in an announcement Tuesday that all pieces are available online and in select stores.
The company also said it plans to enlist over 350 college student-athletes across more than 10 sports to serve as brand ambassadors, who will share their gameday outfits on their social media channels.
“We’re excited to offer our customers high-quality, comfortable product as they head back to school,” Corey Robinson, chief product officer of Abercrombie & Fitch Co., said in a statement. “Our Collegiate Graphics Shop provides designs beyond what are typically offered in most retail stores and on-campus bookstores, and we can’t wait to see how they style their gameday looks.”
Retail Therapy
Krispy Kreme donuts and Dr. Pepper anyone?
To kick off the football season, Krispy Kreme and Dr. Pepper on Thursday announced a collection of doughnuts available for a limited time starting Friday.
The assortment features the Kreme-filled Football Doughnut, the Buttercreme Goals Doughnut and the Dr. Pepper Kickoff Doughnut.
“Two of America’s most loved flavors are about to become one amazing gameday sensation to make this the sweetest kickoff to football season ever. This Dr Pepper collection is a must-add to your gameday lineup, whoever you’re cheering for,” Dave Skena, global chief brand officer for Krispy Kreme, said in a statement.
The doughnuts can be purchased in-shop and for pickup at participating shops or delivery via Krispy Kreme’s app and website. The company is offering free delivery this weekend on all orders purchased through its app and website.
WNBA star Angel Reese’s sweet collab
Angel Reese fans asked and Reese’s listened. The WNBA star and the candy brand teamed up for three basketball-themed merch collection, per a press release.
"The fans really made this happen,” Angel Reese said in a statement. "This collection is for my Reese's Pieces — who've been with me every step of the way and the design elements bring together things that I love — basketball, style, and of course, Reese's."
The collection, which features basketball jerseys, logo T-shirts and more, will release in three separate waves. Select merch from the collections will be available at www.theangelreese.com. The designs are in collaboration with Athlete Studio.
What we’re still thinking about
34%
That’s how much revenue grew in Amer Sports’ technical apparel segment in Q2, according to a company press release. That category, which made $407 million in the quarter, includes the company’s Arc’teryx brand, which itself saw “exceptional growth and profitability,” according to Amer Sports.
“Arc'teryx's world-class products, plus the authentic and deep connection with consumers is allowing us to have strong success in large new categories such as footwear and women's and also incredible momentum across all major geographies,” CEO James Zheng said on a call with analysts earlier this week. The executive also touted “large growth opportunities ahead” for Wilson and Salomon, which have strong equipment market share, but little presence in soft goods.
Amer Sports’ overall business saw revenue climb 16% to $994 million, while net loss decreased 98% to $4 million. Outdoor performance, which includes Salomon, grew 11% in the quarter, to $304 million. Meanwhile, the Wilson-led ball and racquet sports category saw sales edge up 1% to $283 million.
The company as a whole is performing well in China, Zheng said, with more than 50% growth in the region. DTC is also a big growth driver, up 40% in the quarter, while wholesale inched up just 2%. Among other things, Zheng touted Arc’teryx’s first footwear line developed in-house, a Wilson line of performance tennis gear with Roger Federer and a Wilson basketball partnership with Caitlin Clark.
8.3%
That’s how much sales grew at JD Group in Q2, with same-store sales up 2.4%, per an emailed press release. The company completed its acquisition of Hibbett in the quarter, amid strong growth in the North America region. North America was up 13.7% in the quarter, while Europe and Asia Pacific both jumped 10.5%. The U.K., where JD is based, edged up just 1.2%.
“While the overall market remains volatile, we showed good promotional discipline and managed inventory proactively to support gross margins in the period,” the company said. Gross margin declined 30 basis points to 48.4% during the second quarter.
The company opened 85 new JD stores during the first half of the year.
What we’re watching
Big changes at secondhand marketplaces
A number of marketplaces had big announcements this week. Urban Outfitter’s apparel rental service, Nuuly, saw net sales increase by nearly 63% in Q2, primarily driven by a 55% increase in average active subscribers year over year.
Meanwhile, Modern Retail first reported that ThredUp is launching a peer-to-peer resale marketplace. And Farfetch’s white label business, Farfetch Platform Solutions, is shuttering, according to multiple reports.
