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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 Yankee Candle’s brand refresh to Chili’s booth boots, here’s our closeout for the week.
What you may have missed
Sleep Number’s CFO exits
Sleep Number’s CFO and Principal Accounting Officer Francis Lee stepped down from the role and Bob Ryder has been named the company’s interim chief financial officer, effective as of Monday. Lee will continue in an advisory capacity through Aug. 15 to support the transition, according to a filing with the U.S. Securities and Exchange Commission. Sleep Number is conducting a search for its next permanent CFO.
Ryder is currently a senior adviser at the Boston Consulting Group and the CEO of management consulting firm Horsepower Advisors. Sleep Number will pay Horsepower a weekly fee of $58,750 as compensation for Ryder’s services.
Yankee Candle evolves
Yankee Candle Company announced a brand relaunch that focuses on a modernized product design, improved wax blend and an emphasis on the emotional power of fragrance, the company said in a Wednesday press release. As part of the marketing effort, the company partnered with actress and director Brittany Snow.
Yankee Candle partnered with Brittany Snow on its relaunch.
Courtesy of Yankee Candle
“This relaunch marks a significant moment in Yankee Candle’s evolution — not just in how our products look and perform, but in how they connect emotionally with consumers,” Aaron Swart, senior vice president and general manager of home fragrance at parent company Newell Brands, said in a statement.
Private equity moves to acquire Phlur
Indie fragrance brand Phlur is being acquired by private equity firm TSG Consumer for an undisclosed amount. The companies have signed a definitive agreement that keeps Phlur Creative Director Chriselle Lim in her role. She and The Center, the beauty accelerator that has nurtured the brand, will each also “retain a meaningful stake,” according to a press release this week. In light of the deal, Prelude Growth Partners will exit its investment in Phlur.
The DTC brand has partnered with retailers including Sephora, Amazon and U.K. company Space NK (now owned by Ulta Beauty). The Center’s portfolio features Saltair, Make Beauty and Cyklar, and included Naturium before E.l.f. Beauty bought the skin care brand for $355 million.
Retail therapy
Auntie Anne’s launches card
Auntie Anne’s Golden Brown card.
Courtesy of Auntie Anne’s
In celebration of National Auntie Day, Auntie Anne’s released a Golden Brown Card, good for one year’s worth of original or cinnamon sugar pretzels, lemonade and one catering order for up to 50 people. Details of the giveaway will drop on Saturday on the company’s Instagram page, and three lucky fans will win a card.
“National Auntie Day is the perfect time to drop something that feels as iconic as our pretzels — and the exclusive release of the Golden Brown Card is it,” Megan Swader, vice president of marketing, said in a statement.
To further celebrate on Saturday, all guests can receive a cinnamon sugar or original pretzel with any pretzel item purchase.
A whole new meaning to Chili’s to go
Chili’s has teamed up with Austin-based Tecovas to create a cowboy boot made with material from the restaurant’s famous red booths, turning “the most comfortable seat in the house into the most comfortable boots,” according to a company press release.
The limited-edition Booth Boots retail for $345 a pair and come in two styles: the Annie cowgirl boot for women and the Garrett snip-toe cowboy boot for men. Tecovas and Chili’s also created a belt made from the red booth material, available for $75.
The limited-edition collection of Booth Boots by Chili’s and Tecovas.
Courtesy of Chili’s
“Our collaboration with Chili’s is a celebration of our Texas roots and shared love for comfort, hospitality, and making people feel welcome,” Sam Fodrowski, Tecovas’ vice president of brand and product marketing, said in a statement. “The limited-edition Chili’s x Tecovas collection pays tribute to two American originals, pairing the design and craft of Tecovas with Chili’s iconic red booth, where so many good stories begin.”
The products will be available exclusively on Tecovas’ website beginning Tuesday.
What we’re thinking about
4
That’s how many times Hasbro had to increase its production runs for the Final Fantasy version of its popular Magic: The Gathering game since its June launch.
The toy and entertainment company on Wednesday said Magic: The Gathering experienced 23% growth in the second quarter, which helped minimize the impact of a 16% revenue drop in its consumer products category.
CEO Chris Cocks told analysts on an earnings call that the company still left demand on the table for the new game and expressed optimism that Hasbro would return to growth this year.
$12.13
That was the highest American Eagle’s stock price reached on Thursday. The price marks an 11.2% increase from a Wednesday high of $10.90 and a 17.5% jump from the $10.32 trading high on Tuesday. The apparel company’s closing price Thursday landed at $11.28, per American Eagle’s website.
A sudden trading volume was onset by a rally of small traders, according to multiple reports, following the retailer’s news on Wednesday of a marketing campaign with actress Sydney Sweeney. Trading volume for American Eagle’s stock on Thursday capped at 44,649,561 — a stark contrast from Tuesday’s 9,211,787 volume.
What we’re watching
The changing activewear landscape
Nike is navigating a rough patch. Lululemon’s growth is slowing. And others, meanwhile, are speeding up. Vuori, for example, announced just this week plans to operate 15 international stores by 2026 — and that’s in addition to a broader store expansion across the U.S.
Vuori and fellow competitor Alo Yoga are also slated to take share this back-to-school season, according to TD Cowen analysts. And it comes at the expense of usual stalwarts like Lululemon and Nike, who are both raising prices, pushing the accelerator on innovation and otherwise searching for ways to rejuvenate demand with a wary U.S. consumer.
In the last month or so, Lululemon drew attention to its own challenges by suing Costco over dupes and Jefferies analysts called out what they described as an “alarming” rate of markdowns at the athleisure brand. Nike, on the other hand, is deep in the process of rebalancing its sneaker assortment and rebuilding wholesale relationships.
How things will shake out is less clear, but we’ll be watching as the category — and those winning the consumer — shifts.