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 BuyBuy Baby relaunching online to Vineyard Vines partnering with the Grateful Dead, here’s our closeout for the week.
What you may have missed
Reebok’s head of basketball is Jide Osifeso
As Reebok looks to reassert itself in the basketball space, the sportswear brand last year tapped designer and creative director Jide Osifeso as head of its basketball division, the company confirmed via email. The brand is returning to the space after largely abandoning it under former owner Adidas and in February launched its first performance basketball shoe in more than a decade.
Osifeso’s role, introduced last spring, is in addition to Shaquille O’Neal’s position as president of Reebok basketball and Allen Iverson’s role as vice president, both of which were announced a little over a year and a half ago.
Osifeso is the founder of Los Angeles-based streetwear brand Hymne, established in 2015, and has experience at RVCA and Adidas as well. Through Hymne, Osifeso collaborated with sportswear brands including Nike and Reigning Champ. The designer has worked with the likes of Kendrick Lamar, SZA and Jaden Smith, and has already been “instrumental” in Reebok’s signing of athletes such as Angel Reese and Matas Buzelis.
“His approach combines cultural relevance with performance innovation, positioning Reebok to resonate with a new generation of athletes and consumers,” the company said via email, specifying that it wants to align the brand with Gen Z. “Osifeso’s work is characterized by a thoughtful, introspective approach that values authenticity and collaboration.”
Boot Barn makes interim CEO permanent
Boot Barn Holdings on Monday announced that it appointed John Hazen as its chief executive officer. Hazen has been serving as the company’s interim CEO since November, according to a company press release.
Hazen joined Boot Barn in 2018 as its chief digital officer. He also served in leadership roles at Ring, True Religion and Nike, among other companies.
“After a comprehensive search process, the Board unanimously concluded that John is the right leader to drive Boot Barn forward. We believe that his deep industry knowledge, proven track record in digital transformation, and clear vision for the future make him exceptionally qualified for this role,” Peter Starrett, executive chairman of Boot Barn, said in a statement.
BuyBuy Baby officially relaunches online
About a month and a half after announcing BuyBuy Baby’s imminent return, the baby retailer has officially relaunched online.
Coinciding with the relaunch, BuyBuy Baby is hosting a “Welcome Baby” event that runs through Monday, offering customers discounts on infant and toddler products, as well as social media giveaways.
BuyBuy Baby’s online return comes about three months after Beyond acquired the retailer for $5 million, reuniting it with its former owner, Bed Bath & Beyond.
“We are thrilled BuyBuy Baby is back together with Bed Bath & Beyond to create key life stage shopping moments,” Marcus Lemonis, Beyond’s executive chairman and principal executive officer, said in a statement. “The seamless integration of curated product assortment, intuitive site experience and targeted marketing represents our commitment to meeting the needs of today’s parents with our ‘Welcome Baby’ event.”
Trump threatens Mattel with tariffs
President Donald Trump said he would place a 100% tariff on Mattel in response to the toy company saying they are shifting some manufacturing out of China to other countries.
“They said, ‘Well, we’re going to go counter. We’re going to try going someplace else.’ That’s okay, let him go, and we’ll put 100% tariff on his toys, and he won’t sell one toy at the United States. And that’s the biggest market,” Trump said regarding the company in remarks at the White House.
Mattel is accelerating a pullback from China, CEO Ynon Kreiz said on an earnings call this week. The toy company currently brings in less than 20% of its U.S. imports from China. By 2027, no one country will represent more than 25% of Mattel’s total toy production.
Mattel did not immediately reply to questions regarding Trump’s statements.
Retail therapy
Vineyard Vines has a whale of a time with Grateful Dead
Do Vineyard Vines and Grateful Dead have anything in common? Now they do, thanks to a limited-edition collection of apparel and accessories.
The line, which spans T-shirts, polos, ties and belts, launched on Monday and mashes up Vineyard Vines’ preppy college aesthetic with Grateful Dead’s hippy rock vibes. The odd couple have Shep Murray and Ian Murray to thank, who are long-time Grateful Dead fans in addition to being Vineyard Vine’s founders.
“This collaboration reflects the incredible reach and diversity of the Dead Head community, and we’re grateful to pair our Whale with the power of the Dancing Bears and Steal Your Face,” Ian Murray said in a statement. “The Grateful Dead is an iconic American band and brand and we are proud to see both our logos and fans together.”
So grab your boat shoes and your best concert bud-dy, we’re going Truckin’.
What a great daffo-deal
Just in time for Mother’s Day, Walmart may have the sweetest deal around. Shoppers can order 12 cupcakes from the retailer’s bakery that are iced and gathered together to look like a springtime bouquet. With its under-$20 price tag, the floral bouquet is having a moment in the sun on social media, with influencers raving about its taste and pretty packaging.
What we’re still thinking about
1.3%
That’s how much Puma’s net sales declined in the first quarter, falling to just over 2 billion euros (around $2.3 billion). DTC grew 12% currency-adjusted, while wholesale fell nearly 4%.
As with many other brands, Puma has a multipronged approach to dealing with tariffs from the Trump administration, which included accelerating orders prior to April 9. Now, the sportswear retailer is focused on optimizing sourcing for the upcoming fall and winter season and is reviewing pricing.
“In the evolving global trade landscape and amidst macroeconomic volatility, we concentrate on controllable factors and diligently serve our retail partners, consumers, and brand ambassadors,” CFO Markus Neubrand said in a statement on the results. Neubrand noted that the retailer is currently not accounting for tariffs in its outlook due to the “highly uncertain implications.”
The brand is currently without a CEO after Arne Freundt abruptly left the activewear company last month due to “differing views on strategy execution.” Arthur Hoeld, a 26-year Adidas veteran, will take over the role on July 1. The company is also in the process of cutting 500 jobs.
22%
That’s how much Yeti’s international sales increased in the first quarter, while the drinkware brand’s U.S. sales fell 2% year over year. Overall, total net sales at the company increased 3% to $351.1 million, with DTC sales increasing 4% to $196.2 million and wholesale sales growing 1% to $154.9 million.
The company said it exited the first quarter before “the significant tariff disruption announced in April,” but has since lowered its full-year outlook as a result. Yeti now expects sales to increase between 1% and 4% for the year, down from previous estimates of up 5% to 7%, representing a 300 basis point impact related to supply chain disruptions. The company also expects operating income as a percentage of sales to be 12% versus prior estimates of 16.9%.
“Our updated full year outlook reflects both our confidence in the business and our current assessment of anticipated headwinds this year, including the projected impact of tariffs and supply disruptions,” CEO Matt Reintjes said in a statement. “Absent the tariffs, we believe Yeti was set up for a strong year of delivering against our full year plan. In light of this, the focus still remains on our strategic priorities of growing the brand globally and driving innovation all supported by consistent operational discipline.”
The company is working to reduce its reliance on China and is accelerating the pace of product innovation to mitigate any headwinds brought on by tariffs.
What we’re watching
Hudson’s Bay Co. gets ‘several bids,’ as liquidation sales are expected to continue into the summer
Hudson’s Bay Co., the iconic Canadian retailer that started as a trading post in the 17th century and decided to close all of its stores last month, has received “several” bids, according to filings from the country’s version of bankruptcy court. None are from insiders, which means that HBC chief Richard Baker hasn’t bid.
The liquidation of the chain, as well as Canada’s Saks Fifth Avenue and Saks Off 5th operations, continues apace: The company has asked that the process be extended into the summer.
Canadians have apparently flocked to those sales, as they have “generated cash in excess of … operating needs,” per court filings. Hudson’s Bay has proposed using those proceeds to pay off $25 million in revolving debt.
The closure of the nearly 80 Hudson’s Bay stores is leaving a gap for both Canadian consumers and the brands interested in reaching them, especially in towns where there are few if any comparable retailers, analysts say.
