Academy Sports and Outdoors expands product range; debate arises over pumpkin spice excesses
Another week packed with retail news! Here's a lowdown on the latest happenings and what's cooking in our minds.
Fresh from the shelves
Academy Sportin' around: Academy Sports and Outdoors is levelin' up its game with new endeavors. They've partnered with Fanatics, expandin' their merchandise selection to include licensed goods such as jerseys, headwear, and novelty items. They've also joined forces with L.L. Bean, bringin' popular gear like backpacks, clothing, and bean boots to their stores and online platform. Despite the upgrades, the retailer saw a 6.2% net sales drop and a 7.5% comp decrease in Q2 earnings.
NYX's new queen: NYX Professional Makeup appointed Deneé Pearson as their Global Brand President. Pearson, with over 20 years of experience at L'Oréal, previously served as senior vice president of global brand innovation at NYX. Expect big things as she takes the reins and leads the marketing, product development, artistry, and social media teams.
Organize like a pro: The Container Store revamped its Trade Program for pros, includin' architects, designers, and contractors. The changes offer a 20% discount on products and closet systems, purchase tracking, and expert project support.
Pumpkin spice on fleek
Are you a fan of all things pumpkin spice? Dude Wipes has got you covered with their limited-edition, pumpkin-scented wipes. You can get 'em on their website or through Amazon, and they're available in a festive 144-count three-pack. If pumpkin spice ain't enough, this might just take your obsession to the next level.
Fall fragrances are here!
Bath & Body Works has kicked off fall early with more than 35 seasonal fragrances. The lineup features nine new scents like Apricot and Green Fig, Praline Delight, and Cherry Almond Shortbread. You can grab the fragrances in candles, hand soaps, and wall plug-ins.
#JobOffer
Speaking of jobs, Spirit Halloween is hoppin' into their 40th season with over 1,500 seasonal locations and plans to hire over 40,000 workers across North America. So, if you want to be a part of the spooky fun, you know where to go!
What we're still mullin' over:
- Inflation's squeeze on consumers: According to BTIG analysts, consumers are feeling the pinch of inflation, reduced savings from the pandemic, and loomin' student loan payments. This economic squeeze is likely to persist through the remainder of the year, even during the holiday season.
Stay tuned for more retail updates! Have a great week!
- The Department of Commerce is considering a policy update to regulate the evolving AI industry in retail, aiming to strike a balance between innovation and consumer protection.
- Amidst the ongoing pandemic, industries like sports, entertainment, and hospitality continue to grapple with job losses, while finance and tech sectors have shown resilience, offering prospective employment for many.
- With escalating tensions, war-torn regions have put a halt to international trade, causing ripples in global retail businesses and disrupting the supply chain.
- Finance experts have analysts speculating about the impact of inflation on the lifestyle choices of the average consumer, urging them to be cautious with their spending, especially in the luxury goods market.
- As the pandemic shows signs of abating, there's a push for businesses to prioritize eco-friendly practices in their operations and marketing strategies, as consumers are increasingly becoming conscious of their environmental footprint.
- The reality TV world is abuzz with rumors of a new show focusing on the high-stakes, cutthroat competitive environment of the retail industry, challenging teams to innovate and outperform one another to stay afloat.
- The trading of goods, from fashion to electronics, is expected to see a surge as countries reopen their borders and relax pandemic restrictions, leading to increased demand for retail jobs in various sectors of the industry.
- As businesses continue to adapt and innovate in response to changing consumer preferences and market dynamics, finance, technology, and e-commerce are emerging as the key drivers of growth and evolution in the retail landscape.
