The Weekly Closeout: Tillys, J. McLaughlin get new CEOs
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 Petco's 60th anniversary to the future of Outdoor Voices, here's our closeout for the week.
What you may have missed
J. McLaughlin names CEO
Apparel brand J. McLaughlin this week named Greg Unis chief executive officer. Unis had been serving as interim CEO since March.
'Greg's passion for design and brand-building make him the right leader for this pivotal moment,' Kevin McLaughlin, co-founder of J. McLaughlin, said in a statement. 'He understands what makes J. McLaughlin special and brings a fresh perspective to help us further engage with our customers and stay true to our roots.'
Prior to J. McLaughlin, Unis served as president of Victoria's Secret and Pink. He has also held senior executive roles at Coach, Brooks Brothers and Gap Inc.
Staples expands partnership with Verizon
Staples and Verizon have expanded their partnership, bringing the phone and internet carrier's kiosks to 35 Staples stores.
The initiative marks the start of a broader effort to bring 'more wireless and tech services to Staples customers this year,' the companies said in their announcement Thursday.
'At Staples, we're focused on bringing in the right partners to deliver even more value to our customers and this collaboration with Verizon does exactly that,' Marshall Warkentin, president of Staples U.S. Retail, said in a statement. 'Together, we're making essential wireless services more accessible for small businesses and everyday shoppers in the communities we serve.'
The stores will open on a rolling basis through mid-August, with additional locations opening later in the year.
Tillys names a new CEO
Youth apparel company Tillys announced that, effective Aug. 18, Nate Smith will step into the role of president, chief executive officer and director. Current CEO Hezy Shaked will transition to the executive chairman role also on that date, per a company press release.
Smith joins the company from Marolina Outdoor, where he served as CEO. He also has leadership experience at Boardriders, Oakley and Patagonia, among other companies.
'Tillys has had a strong track record of success over its 43-year history, and I am excited to work with Hezy, the Board and the team to revitalize and build upon that history,' Smith said in a statement.
Retail therapy
IHOP enters the Dubai chocolate ring
Pistachio shortage? If that's the case, IHOP hasn't gotten the memo. The famous breakfast foods chain is debuting two limited-edition Dubai chocolate-flavored pancake stacks on Monday in New York City, Los Angeles and Austin.
The first 25 guests will get the luxe Dubai chocolate pancake stack for free, featuring Madagascar vanilla whipped cream, a whole Dubai chocolate bar, edible 24K gold flakes and gold glitter. After that, guests can purchase a scaled-down version for $13, per a Wednesday press release.
No, you wear it on your head
In Prada's latest attempt to offer products to people who have more money than common sense, the fashion house is offering a cat basket and passing it off as a hat. The Straw Visor Cap currently sells on Saks Fifth Avenue for $2,800.
If you aren't vibing with the lampshade-on-your-head look, definitely pick up the company's holey Leather Visor for a lot less ($1,790) or a more traditional cotton baseball cap for $895.
What we're still thinking about
12.6%
That's how much Purple's second quarter net revenue declined year over year.
The mattress company attributed the drop to 'delays in the timing of Rejuvenate 2.0 shipments, lapping reductions in wholesale door count from 2024, and softness in ecommerce.' Still, executives sounded upbeat on the full year, reiterating guidance and saying on an earnings call Tuesday that the brand expects its showrooms to become profitable in 2025.
60
That's how old Petco is this year. The retailer, a brick-and-mortar stalwart, started off as a veterinary supply mail-order business. Acquiring two pet-supply rivals in 1988 tripled its store footprint, and its expansion continued well into the 21st century. More recently, the chain has struggled, though, and it's now pursuing a turnaround under new leadership.
For its anniversary this month, Petco is hosting tastings, promotions and adoption events, including a birthday party Aug. 16 at stores nationwide. From 2 p.m. to 4 p.m. local time, pets and their families get various treats, with gift bags going to the first 60 customers. The festivities culminate on Aug. 26, National Dog Day, with special deals and an Instagram giveaway for a chance to win a Petco shopping spree.
What we're watching
The return of Outdoor Voices
After an abrupt closure of its store footprint last year and a sale to Consortium Brand Partners, Outdoor Voices is back with new product and its old founder. Ty Haney has rejoined the brand as founder, owner and partner, and led the nine-month-long design process of the brand's new collection, launching next week.
The move has already sparked plenty of discourse about what Outdoor Voices will accomplish this time around, with fans peppering the brand's Instagram with comments about which products to bring back and general excitement for the reveal. Many also praised the return of Haney herself, who left the brand in 2020 under tumultuous circumstances.
But it's not all exercise dress bliss. The brand's posts have also become home to customers airing grievances about certain style changes in the new collection — including a sweater with a sparkly 'Doing Things' bedazzled on the front — as well as complaints about limited sizing and months-old order mishaps.
With Haney back at the helm and the deeper resources of a parent company, can Outdoor Voices regain its spot in activewear shoppers' closets?
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