The Weekly Closeout: Kohl’s plans to refinance, Wayfair expands large-format concept

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 Walmart’s expanded eye care assortment to Solo Stove’s latest product launch, here’s our closeout for the week.

What you may have missed

Walmart sees things clearly

Walmart is expanding its eye care assortment, in partnership with Nuance Audio Glasses and Eureka daily contact lenses for astigmatism. 

The audio glasses combine prescription eyewear with an invisible hearing solution for mild to moderate hearing loss and sell for $1,100 at nearly 1,500 Walmart Vision Centers. The daily contact lenses for astigmatism are available in stores and online for just under $70, the company announced Tuesday. 

By the end of this month, the company’s Optical Virtual Try-On feature will expand to allow customers to try on over 1,700 virtual frames. Shoppers can virtually try on frames and purchase prescription eyewear online through Walmart’s app or website. 

Wayfair to bring large-format concept to New York

Wayfair announced its next large-format retail store will be in Yonkers, New York. 

Opening in early 2027, the store will have 19 departments across furniture, decor, outdoor living, home improvement and more. The location’s product assortment will also feature Wayfair Verified items of highly rated items.

Liza Lefkowski, vice president of merchandising and stores at Wayfair, said in a statement that Wayfair in the past year has seen how a thoughtfully designed store deepens engagement, growth and welcomes new audiences.

“The upcoming Yonkers store builds on that momentum — bringing our immersive retail experience to the New York metro area and delivering the same inspiration, convenience, and flexibility our customers have come to expect,” Lefkowski said.

Harry’s debuts a new razor

In what it called “the most significant launch in the brand’s history,” men’s grooming brand Harry’s released a new razor system this week. Harry’s Plus features a pivoting cartridge, five blades, a lubricating aloe strip and an ergonomic metal handle.

The launch was supported by a decade of research and “significant capital investment” in custom machinery, the company said. Harry’s Plus is only available on Harry’s website, with a starter pack priced at $10, and will be sold alongside the brand’s other razors.

“Since founding Harry’s, we’ve had a vision to create a next generation razor system that could deliver truly premium performance,” co-founder and Mammoth Brands co-CEO Jeff Raider said in a statement. “Less than a year after launching Harry’s, we decided to buy a 90-year-old razor blade factory in Germany because we knew it would be critical in enabling us to innovate in a big way. After 10 years and endless prototyping, testing, and building, we’re so excited to be launching Harry’s Plus, our best shave ever.” 

Retail therapy

Solo Stove keeps its cool

Solo Stove, which already sells pizza ovens and fire pits, is betting it can replicate that success in a crisp new way: coolers.

The Solo Windchill 47 is the brand’s first foray into the cooler space. It features a portable air conditioner and misting system, presumably so families can feel superior to their neighbors at local parks and concert venues. At $650, it costs approximately $10 per can of beer you can fit into it.

It’s available in two different colors at launch, tan and green. The product is currently in the preorder stage on Solo Stove’s website and will begin shipping in early June.

“This is just the beginning of the next iteration of Solo, as we continue to deliver quality products that are designed to elevate your outdoor experience and spark unforgettable moments with friends and family,” CEO John Larson said in a statement.

Tell the time … with your shoes?

Casio America debuted a limited-edition footwear collaboration between G-Shock and Crocs on Tuesday. The shoe in the Crocs Echo Wave silhouette features a marbled ankle strap with a timepiece. 

The shoe features alarms, a stopwatch and a countdown timer. The watch can also be removed and worn on the wrist. The product will be available May 27 for $200 at select wholesale partners and Crocs.com.

What we’re still thinking about

2%

That’s how much Dillard’s retail sales declined in the first quarter, reaching $1.47 billion. The department store also reported comparable sales fell 1%.

CEO William Dillard said despite broader economic uncertainty, the retailer “turned in a relatively good first quarter,” adding that it “kept expenses under control and reported a healthy gross margin.” Retail gross margin during the period was 45.5% of sales compared to 46.2% last year.

The retailer’s net income fell during the period to $163.8 million compared to $180 million in the year-ago period.

7.8%

That’s how much A.k.a. Brands’ active customer base grew during the first quarter, reaching 4.1 million.

The company — whose portfolio includes Princess Polly, Culture Kings and Mnml — reported Q1 net sales rose 10.1% year over year to $128.7 million, while U.S. net sales grew 14.2%. Net loss narrowed to $8.4 million from $8.9 million last year.

“This marks our fourth consecutive quarter of growth, underscoring the effectiveness of our strategic initiatives,” CEO Ciaran Long said in a statement. “As we approach the evolving trade environment impacting our U.S. business, we are confident that our strategic actions, swift execution and flexible business model will enable us to navigate this period and emerge even stronger.”

What we’re watching

Kohl’s makes plans to refinance

Kohl’s intends to refinance with a $360 million offering of new senior secured notes due in 2030, according to a Tuesday filing with the U.S. Securities and Exchange Commission. Eleven distribution and e-commerce fulfillment centers will be used as collateral and will be held in a newly formed holding company. 

The net proceeds will go to the repayment of debt under the company’s revolving credit facility. Kohl’s expects to borrow under its revolving credit facility to repay all of its 4.25% notes due in 2025. 

Within the past few weeks, the department store fired its CEO over a conflict of interest and then had a board member leave due to disagreements with the company.