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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 Ollie’s store milestone to Skechers’ continued expansion into performance products, here’s our closeout for the week.
What you may have missed
NRF names a new chief economist
The National Retail Federation announced that its chief economist for the past 15 years, Jack Kleinhenz, will step down from the role and serve as the organization’s senior economic adviser. Mark Mathews, the NRF’s executive director of research, will take on the position while continuing to lead the research team, according to an announcement.
“Jack Kleinhenz is an influential figure in the retail industry who has offered expert analysis and forecasts on national economic trends,” CEO Matthew Shay said in a statement. “Jack’s continued involvement, along with Mark Mathews’ leadership, will ensure that NRF stays at the forefront of economic issues impacting the retail sector.”
All boxed up
Serta Simmons Bedding announced the launch of its Serta Perfect Day Mattress in a Box collection. Products go from packaged in a box to a bed in seconds for simple setup and immediate use, according to a Wednesday press release from the company.
Image courtesy of Serta Simmons Bedding
“Perfect Day represents the sweet spot between performance, value and convenience,” Mitch Willingham, senior vice president of brand marketing, said in a statement.
Products are made in America “with global components,” and are available in sizes twin through California king, per the announcement. The line is made up of nine models, including firm, medium, plush and pillow top options. Queen pricing starts at $199 and goes up to $1,099.
Skechers continues performance push
Skechers on Wednesday announced a new running shoe franchise, the Skechers Aero. The brand, long known for its comfort footwear, said the shoes were named for the “aerodynamic feel of the design” and are made to blend speed, style and comfort.
The line includes three different models: the Burst, which has elevated cushioning for long-distance runs; the Spark, which Skechers describes as a “well-balanced everyday trainer”; and the Tempo, which is a high-performance shoe geared toward speed. The shoes are available on Skecher’s website and in its physical locations, as well as at specialty athletic shops. Hands-free versions of the Burst and Spark shoes will be available in Europe in August.
Image courtesy of Skechers
“An evolution of our legacy in running, Skechers AERO was developed with feedback from every type of runner from casual joggers to ultramarathoners,” Ben Stewart, vice president of the Skechers Technical Performance Division, said in a statement.
Skechers has made a serious play for the performance market in recent years, entering both the basketball and soccer markets. Skechers also opened its first performance-focused store earlier this year, in Canada. The retailer agreed to go private in a $9.4 billion deal in May.
Retail therapy
Chipotle lips, anyone?
Chipotle and beauty brand Wonderskin relaunched its previously sold-out, limited-edition “Lipotle” lip stain. Last year, the product was Wonderskin’s fastest ever sell out, and the company received over 10,000 email and comment relaunch requests.
“We are thrilled to collaborate with Chipotle again to bring back this limited-edition shade of our viral Wonder Blading Lip Stain,” Marina Kalenchyts, Wonderskin’s brand director, said in a statement. “This partnership is a perfect blend of two trailblazing brands, both passionate about delivering exceptional quality, desirable products, and building loyal communities.”
The “Lipotle” wonder blading peel and reveal lip stain kit became available on Tuesday exclusively on Wonderskin’s website for $29.
Cheesy Cheez-Fits
Cheez-It released a custom tunnel walk outfit, dubbed Cheez-Fitz, designed by stylist Brittany Hampton and worn by professional basketball player Rickea Jackson.
Courtesy of Cheez-It
The gender-neutral collection has a windbreaker and pants with a pocket designed for a bag of Cheez-Its. The brand held one drop on the Cheez-It website Thursday and is planning another on July 24 for the limited-time pieces.
“Expressing my personal style is important to me, whether it’s in the tunnel, in the stands, or on the road,” Jackson said in a statement. “I’m obsessed with the look and can’t wait to see how fans rock these Cheez-Fitz pieces in their own unique way.”
What we’re still thinking about
600
That’s how many stores discount chain Ollie’s has officially opened, according to a company press release Thursday. Its latest grand opening is located in Belmont, New Hampshire, and marks the Ollie’s expansion into its 34th state.
“At a time when many people are trying to stretch their hard-earned dollars, we are delivering unprecedented value through an ever-changing assortment of everyday household products that combines quality, national brands, and pricing in a way that can only be found at Ollie’s,” Eric van der Valk, president and CEO of Ollie’s Bargain Outlet, said in a statement.
The New Hampshire store is located in what used to be a Big Lots, per the release.
4.5%
That’s how much sales in the department store sector fell in June, according to figures released by the U.S. Department of Commerce on Thursday.
Overall retail sales in the categories covered by Retail Dive were up 4.2% year over year, with e-commerce sales growing nearly 7%.
While analysts called the results “solid” retailers and consumers alike are preparing for continued economic uncertainty in the months ahead driven by tariffs and inflation.
What we’re watching
Rhode’s growth prospects
E.l.f. Beauty made a big bet on the Hailey Bieber beauty brand when it announced plans to acquire the company in May. At the time, E.l.f. Beauty CEO Tarang Amin said the company has a “very high bar for M&A” and plans to expand Rhode through avenues including Sephora, additional retail partners and more product lines.
But how big could Rhode really get? TD Cowen analysts aimed to answer that question this week in an analyst note. They estimate that Rhode could double its business over the next couple of years, ultimately reaching $500 million, “similar to Glossier and Rare.” That’s predicated on growth from new distribution channels, category expansion, product launches and international growth.
“That said, key risk factors we consider include: Rhode’s ability to meet demand for the Sephora launch initially, maintain current brand health and relevance, execute on new product launches and category expansion, and increase distribution footprint,” TD Cowen said.